Heritage Cannabis Holdings Corp. (CSE:CANN; OTC:HERTF)(“Heritage” or “Company”) is pleased to announce the arrival of the first two Vitalis Q90 extraction systems at the CannaCure Corp (“CannaCure”) facility in Fort Erie, Ontario.
The highly calibrated extraction machines will be temporarily installed in re-purposed clean rooms as CannaCure prepares for the buildout of phase 2. The planned second phase will include dedicated extraction rooms and other ancillary extraction related services, with an anticipated completion of August 2019 at an estimated cost of $1 million.
Once certified, the Fort Erie location will have a potential annual processing capacity in excess of 150,000 kilograms of dried cannabis or hemp input per year, which could produce up to 6,500 kilograms of cannabis resin on an annual basis.
Heritage will have a potential combined extraction capacity of 300,000 kilograms through its Falkland and Fort Erie facilities. Both CannaCure and PhyeinMed have applied and are waiting to be awarded their Standard Processing Licence from Health Canada, allowing both locations to begin extracting dried cannabis and hemp.
“Our management team continues to move quickly on executing our business plan. We are well on our way to establishing ourselves as one of the leaders in the Canadian extraction industry.” said Clint Sharples, CEO of Heritage “our team continues to have discussions to provide services to third parties, as well as producing our own products.”
Installation of these two units will be performed by the experienced team at Purefarma Solutions which is expected to take approximately two weeks until they are ready to be tested and certified by the manufacturer.
About Heritage Cannabis Holdings Corp.
The Company is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licensed producers, through its subsidiaries PhyeinMed Inc. and CannaCure Corp. both regulated under the Cannabis Act Regulations, and its subsidiary Purefarma Solutions, which will be providing extraction services within the Company. Heritage is focused on advancing its scale and technology footprint to compete both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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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.