TORONTO – (BUSINESS WIRE) – Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”) announced today that Health Canada has granted Heritage the first license to export cannabis products from Canada to Brazil.
In December 2020, Heritage entered into an agreement (the “Agreement”) with CannaBR Exports Corp. (“CannaBR”), a Brazil-focused import and distribution company for pharmaceutical CBD products, through the distribution and bulk sale of formulated CBD products to the Brazilian cannabis market. The agreement provides that the minimum order quantities agreed by both parties will be delivered to CannaBR’s large distribution network in Brazil and that long-term distribution agreements can be concluded.
Heritage, in partnership with CannaBR, has focused on filing and obtaining approvals from the Brazilian Health Authority (ANVISA) for the distribution and sale of various formulated CBD products in Brazil and is currently in an advanced stage of product testing to meet ANVISA’s requirements fulfill.
Through its partnership in Brazil, CannaBR already has an import license. With Heritage receiving its export license from Health Canada, it is slated to begin shipping CBD products within a week to meet ANVISA requirements. Once all the necessary testing requirements are met, the company will enter into final negotiations to enter into a long-term sales agreement with minimum order quantities.
“We are delighted to be the first cannabis company in Canada to be granted an export license to Brazil by Health Canada,” said Clint Sharples, CEO of Heritage. “Our collaboration with CannaBR is the company’s second expansion beyond the Canadian and US markets. With the Brazilian market expected to grow dynamically over the next five to seven years, we are ready to take advantage of the many possibilities offered by the premium CBD product room. ”
About Heritage Cannabis Holdings Corp.
Heritage is a cannabinoid company focused on the manufacture and sale of hemp and cannabis based products and services for medical and recreational use. In Canada, Heritage is represented through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp. operating, both of which are regulated under the provisions of the Cannabis Act. Working under these subsidiaries and the Purefarma, Pura Vida, Premium 5, RAD and Wohlfühl. Marken, Heritage focuses on the extraction and manufacture of derivatives for recreational users as well as the formulation of medicinal cannabis-based solutions. In the US, Heritage works under Opticann Inc., a Colorado-based oral and topical cannabinoids company that has the right to sell only CBD and CBG products made with the patented VESIsorb® drug delivery system to aid absorption and optimize stability. As the parent company, Heritage focuses on providing its subsidiaries with the resources to further develop their products or services in the national and international competition.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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