Heritage Cannabis Holdings Corp (OTCMKTS: HERTF) and Canopy Growth Corp (NASDAQ: CGC) have announced the signing of a commercial agreement for bulk concentrate supply, including live resins. Recently Heritages provided its first live resin shipment to Canopy Growth, and additional purchase orders and shipments are expected to follow.
Canopy Growth Picks Heritage Cannabis as its bulk concentrate distributor
Canopy Growth, a Canadian cannabis industry leader in terms of revenue and market share, partnered with Heritage for bulk concentrate supply. The Canadian industry leader picked Heritage because of its consistency, product quality, industry-proven technology and innovation, and ability to execute quickly enough to keep up with the company’s expansion. As a result, Canopy will be able to maintain their good momentum by leveraging the Heritage platform and second-to-none execution.
Heritage CEO David Schwede said, “I am honoured that Heritage is being recognized by Canopy and was selected as the pre-eminent commercial partner to supply their bulk concentrates. We are excited to launch this relationship as it demonstrates our depth and breadth of experience in cannabis extraction and provides a high gross margin revenue stream to our well-established platform – one that we will continue to grow through a number of additional commercial relationships we are pursuing.”
Heritages distribution agreement with BRNT ltd
Recently Heritage Cannabis entered a definitive white label contract with BRNT Ltd to launch Violet Tourist branded Cannabis 2.0 infused pre-rolls. BRNT is an Alberta-based brad house and marijuana ancillary firm that launched Violet Tourist. Based on the agreement, Heritages will expand Violet Tourist distribution across Canada and add to its SKU listings of cannabis 1.0 and cannabis 2.0 segments.
Schwede said, “We are thrilled to have executed this Agreement with BRNT as it provides us with control of a brand in Alberta that has proven its ability to capture market in Canada’s second largest market by revenue. Without a cash outlay or issuance of Heritage shares, we secure exclusive cannabis 2.0 rights to Violet Tourist branded products in Alberta and retain control to expand distribution of the brand across the Country.”