Heritage Cannabis Holdings Corp. Acquisition of Premium 5 Ltd. and Recent Financing Deal with The Stock Day Podcast
Phoenix, Arizona--(Newsfile Corp. - February 25, 2021) - The Stock Day Podcast welcomed Heritage Cannabis Holdings Corp. (OTCQX: HERTF)("the Company"), a cannabinoid company focused on the production and sale of medical and recreational hemp-based and cannabis-based products and services. CEO of the Company, Clint Sharples, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. "Heritage is a Canadian-based cannabis company that specializes in extract and extract derivative products," explained Sharples. "We are a market leader in Canada on the extract and extract derivative side."
Jolly then commented on the Company's recent acquisition of Premium 5 Ltd., and asked about the advantages of this acquisition. "The Premium 5 products have really given us a foothold on the extract derivatives market. Prior to that, Heritage was strong on the vape and tinctures with the production of our full-spectrum oil, a unique oil blend here in Canada," said Sharples. "Bringing on the Premium 5 products has given us an additional 80 SKUs to bring to market that are full of innovation, as well as options."
"Are you planning on expanding into any other markets or any other countries?", asked Jolly. "We've previously announced two transactions in Brazil," shared Sharples, adding that the Company is currently working to export their products to this area. "We have an agreement with Australia for our CBD Filmstrips," he added. "We're looking at bringing CBD soft gel caps and our topicals to market in the United States utilizing the VESIsorb technology," continued Sharples. "We have both a strong focus here in Canada as well as several options for countries outside of Canada, including the United States."
Jolly then asked about the progress of the Company's transactions in Brazil. "What we're working towards right now is having Heritage produce the required clinical data for the groups down in Brazil, and the information that the government is looking for, including shelf stability," said Sharples. "Most of our original results have already come in and we are pleased with them," he added. "We will be getting further results as the year progresses, but definitely the second half of 2021 is where that transaction will really start to heat up. We hope to be bringing products to Brazil in the latter half of 2021 and full bore into 2022."
The conversation then turned to the Company's recent financing announcement. "We're just closing the financing this week; it is prospectus-based financing here in Canada. Looks like we will be quite a bit north of $12 million," said Sharples. "By bringing those funds in, it really does bridge our company. As our revenues are picking up month-over-month right now, we are targeting to be EBITDA positive for the second half of this year," he continued. "These funds will be utilized for bringing more equipment in, very specialized equipment, for some of the extract derivatives we will be offering. This equipment will allow us to increase our margins and take a really good run at being a strong, profitable company by the end of this calendar year."
Jolly then asked about the Company's current valuation. Sharples shared that the Company's recent round of financing triggered some selling pressure, but this was to be expected. "I believe that is just about behind us after we close this. We should be setting a new level here to move up from this point, at least that is our intention."
To close the interview, Sharples encouraged listeners and shareholders to consider the Company's high-quality and innovative products, which have garnered a significant response from consumers. "In every province we go into here in Canada, we are getting phenomenal uptake in our products," shared Sharples. "Our sales are strong and the product that we are bringing to the market is getting great reviews, and we have no intention but to keep moving forward. We're looking forward to a really strong 2021 and years beyond."
To hear the entire interview with Clint Sharples, follow the link to the podcast here: https://audioboom.com/posts/7809607-heritage-cannabis-holdings-corp-acquisition-of-premium-5-ltd-and-recent-financing-deal-with-the.
About Heritage Cannabis Holdings Corp.
Heritage is a cannabinoid company focused on the production and sale of medical and recreational hemp-based and cannabis-based products and services. In Canada, Heritage operates through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., both regulated under the Cannabis Act Regulations. Working under these subsidiaries and the Purefarma, Pura Vida and Premium 5 brands, Heritage focuses on extraction and the creation of derivative products for recreational consumers, as well as the formulation of cannabis based medical solutions. In the U.S., Heritage operates under Opticann Inc., a Colorado based oral and topical cannabinoid company with the rights to exclusively sell CBD and CBG products made with the patented VESIsorb® drug delivery system for optimized absorption and stability. As the parent company, Heritage is focused on providing the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Corey Herscu for Heritage Cannabis
About The "Stock Day" Podcast
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