Replies to post #2754 on Canadian Weed!

[JohnCM]

HERITAGE CANNABIS HOLDINGS CORP.

Shares outstanding 01/31/2020 473,718,024

Q1 2020 Financial Highlights


- Revenue of $4.0 million in Q1 2020 compared to $nil in the three-month period ended January 31, 2019 (“Q1 2019”).

- Gross Margin of $1.5 million in Q1 2020 or 37%, and adjusted Gross Margin, which excludes the impact of excise taxes was 41%.

- Net loss of $2.0 million or $0.01 per common share in Q1 2020 compared to a net loss of $3.8 million or $0.01 per common share in Q1 2019.

- Although the Company is not yet producing positive cash flows from operations, management expects to achieve positive cash flows from operations later this year.

- As at the end of Q1 2020, the Company had a cash position of $9.3 million, including GICs totalling $4.6 million and working capital of $14.8 million compared to $11.5 million in cash at the end of fiscal year 2019 and working capital of $11.7 million.

[howestreetbull]

CANN.ca $HERTF Heritage Cannabis Holdings Subsidiary Voyage Receives Sales License from Health Canada
by @thenewswire on 13 Apr 2020, 04:00
(TheNewswire)



Toronto, ON – TheNewswire - April 13, 2020 - HERITAGE CANNABIS HOLDINGS CORP. (CSE:CANN) (CNSX.CANN.CN) (OTC:HERTF) (“Heritage” or the “Company”), a leading Canadian cannabis company is pleased to announce that its subsidiary Voyage Cannabis Corp. (“Voyage”) has been granted a cannabis oil sales license by Health Canada, effective April 8, 2020. This sales license will allow Voyage to begin selling cannabis products, including oil derivatives, to the Provincial cannabis boards as well as directly to patients in the medical market. The Company is developing a variety of products which it plans to market under brands that offer unique high quality properties and provide consumers with clear choices.

The Company plans to begin making its cannabis oil available for sale as soon as possible. Included in this offering will be its award-winning, direct-to-vape, all natural oil products. The Company’s proprietary extraction methodology uses high pressure systems and no harmful chemicals. Additionally, Heritage will launch various formulations of full spectrum CBD tinctures when product approval is received from Health Canada.

With the achievement of this sales license, the Company intends to further discussions to create joint ventures with companies which have distinct cannabis products that can be formulated at a Heritage facility and mutually marketed to Canadian consumers.

“We are extremely excited for Voyage to receive this sales license. It is a significant development allowing us to begin selling cannabis oil to the Canadian retail market. We have been processing and formulating products in anticipation of this license and are eager to begin offering them to the public.” stated Clint Sharples, CEO of Heritage. “High quality cannabis oil products are in great demand and we are confident that our customers will appreciate the value in the products we will be bringing to market. Our extraction division, Purefarma, has built a reputation for quality and purity, and this license allows Voyage to offer these products directly to this growing market in addition to our contract manufacturing business.”

About Heritage Cannabis Holdings Corp.


Heritage Cannabis currently has two Health Canada approved licenced producers through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., both regulated under the Cannabis Act Regulations. Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and a Medical Services Division which is focused on cannabis based medical solutions. Heritage as the parent company, 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.


“Clint Sharples”

Clint Sharples

CEO


For more information contact:


Clint Sharples

Tel: [phone]

[e-mail]


or


Kelly Castledine

Tel: [phone]

[e-mail]



The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds, the results of financing efforts, the results of exploration activities -- that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.



Click Image To View Full Size


Copyright (c) 2020 TheNewswire - All rights reserved.

[howestreetbull]

oops