Heritage Cannabis Holdings Corp. (CSE:CANN)(OTCQX: HERTF) (“Heritage” or “Company”) is pleased to announce that it has signed a Processing and Supply Term Sheet with Canntab Therapeutics Limited (CSE: PILL) (“Canntab”) for the purpose of capsule manufacturing.
Under this Term Sheet, Heritage’s subsidiary Purefarma Solutions (“Purefarma”) will provide processing services for hemp supplied by Canntab, to their specification as required for the production of Canntab’s planned roll out of their ingestible oral cannabis products. Canntab and Heritage will jointly support each other in relation to the regulatory submissions required to distribute and sell cannabis capsules. Additionally, Heritage will provide strategic support including packaging and distribution.
“Canntab has developed proprietary cannabinoid formulations, and it’s our intention to become an industry leader in oral dosage cannabis.” says Jeff Renwick, CEO of Canntab “We view this partnership with Heritage and Purefarma as a critical step in our company achieving our goals.”
This agreement will begin immediately and is open-ended subject to a 120 day cancellation notice by either party.
“This agreement with Canntab is a strategic fit for our growth as a contract service provider, aligns with our vision to operate in final product verticals and advances our offering in the medical cannabis sector.” states Clint Sharples, CEO of Heritage “Purefarma’s extraction expertise and ability to provide quality oil is a good match for the high expectations that Canntab has for the products they will be bringing to market.”
About Canntab Therapeutics Ltd.
Canntab Therapeutics is a Canadian company engaged in the research and development of advanced, pharmaceutical-grade formulations of cannabinoids in a variety of timed-release dosages, including extended release, immediate release and flash melt. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace. The company’s proprietary hard pill cannabinoid formulations will provide doctors, patients and the general consumer with a medical grade solution with all the features you would expect from any prescription or over the counter medication.
About Heritage Cannabis Holdings Corp.
The Company is focused on becoming a vertically integrated cannabis provider that 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 BriteLife Sciences 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.
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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.