Heritage Cannabis Holdings Corp (HERTF)

[BlueGreenPower]

**NEWS** Heritage Cannabis Reports 2021 Year-End Financial Results

"Heritage’s revenue grew over 100% for the year and almost 40% from Q3/21 to Q4/21, which was the higher end of the previously provided guidance. Our ability to facilitate this growth while integrating our acquisitions, expand our distribution and launch numerous new products including into the flower vertical is an outstanding result given the continued turbulence in the cannabis markets," commented David Schwede, CEO of Heritage. "While our results were impacted by several one-time cost adjustments, we believe we have been able to make a number of improvements which we expect will allow us to show positive results in the coming quarters as we move to cash flow positive territory. The combination of our launch into both the flower and pre-roll categories combined with our incumbent product offering has created a very strong platform. We are building a strong and sustainable business in a nascent industry and with our solid business practices and product and brand innovations we are focused on positive cash flow as a priority."

https://finance.yahoo.com/news/heritage-cannabis-reports-2021-end-221500413.html

Really strong finish for fiscal 2021 bringing in a record $7.1 million in Q4. That puts them on a annual run rate of $28.4 million for fiscal 2022, but I'm expecting much more than that. They have already reported the upcoming Q1 2022 report would be around 25% higher than Q4, so about $8.8 million coming in a few weeks. That would put their annual run rate at $35 million. The sales chart in the earlier update shows Heritage sales growth in this current quarter around 26%. That's some real good news that Q2 could be another big quarter for Heritage. Like :)

Was also happy to hear that Heritage's move into the US is on track to begin production this quarter, Great news is Missouri cannabis supporters have submitted the signatures needed to get recreational legalization on the ballot. Recent polling shows it should pass. This is awesome news for Heritage as it will expand their customer base "mega" exponentially. They would also be a first Canadian LP mover should the US legalize nationwide.

The team of David and Clint have really righted the ship by throwing the excess goodwill overboard and cleaning up the balance sheet for fiscal 2022. This feels like the beginning of a great year for cannabis. Who couldn't use a little more in these anxious times :) always imho glta

https://www.ksdk.com/article/news/local/recreational-marijuana-decided-voters-missouri-cannabis/63-6990d897-c8b6-4d00-b9b4-d880776d899f