HERITAGE CANNABIS HOLDINGS CORP. (CSE:CANN) (CNSX:CANN.CN) (OTC:HERTF) (“Heritage” or the “Company“), a leading Canadian cannabis company, today announced that it has signed an agreement to purchase Pura Vida, an award winning legacy cannabis brand recognized primarily for its superior tinctures, concentrates and vape cartridge products.
Pura Vida is the recipient of first place awards for their THC and CBD extract products in the 2016 Emerald Cannabis Cup. In the 2017 High Times Cannabis Cup, they were winners of the Best Vaporizer Award, Sativa First 1st place Concentrate Cup and took 2nd place for both Indica and Hybrid Concentrates. In the 2018 Emerald Cannabis Cup, Pura Vida achieved another 1st and 3rd in the concentrate and flower category making it a well recognized brand with a strong customer following.
The Pura Vida brand will be marketed primarily as Heritage’s recreational offering and is a complement to the previously announced launch of the Purefarma med/rec brand by the Company on May 26, 2020. Products will be sold through provincial cannabis stores across Canada, beginning in British Columbia and Alberta in July.
“With over 25,000 customers served in its history, Pura Vida has clearly demonstrated previous brand loyalty, and will be a valuable addition to the portfolio of brands and products being launched by Heritage in the coming months,” commented Clint Sharples, CEO of Heritage. “Strong brands are key to our strategy to maximize domestic and international revenue opportunities and achieve strong margin performance from our products.”
Heritage is acquiring the Pura Vida brand and trademark for CDN$75,000 which will be satisfied by the issuance of 500,000 common shares of the Company at a value of CDN$0.15 each, with the transaction expected to close by June 19, 2020. Pura Vida founder Brandon Kitcher will join the Heritage family to facilitate the launch and growth of the brand into the Canadian market.
“I chose to bring my brand to Heritage specifically because I knew the extraction experts from their subsidiary Purefarma Solutions could deliver the quality that my customers have come to expect from my products,” stated Brandon Kitcher. “We have always thought of Purefarma as the best in the business, and I’m looking forward to delivering that once again.”
About Heritage Cannabis Holdings Corp.
Heritage Cannabis Holdings Corp. is a vertically integrated cannabis company that owns two Health Canada approved licenced producers, Voyage Cannabis Corp. and CannaCure Corp., both of which also have industrial hemp licenses. Additionally, Voyage recently received its sales license from Health Canada. Working under these licenses, Heritage has two additional subsidiaries, Purefarma Solutions, that provides extraction services, and a Medical Services Division which is focused on cannabis based medical solutions. Heritage as the parent company, provides the synergies and resources for its subsidiaries to advance their medical and adult use products and services both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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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.
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