Heritage Orders an Additional Two Extraction Systems
Vancouver, B.C. / TheNewswire / April 2, 2019 - HERITAGE CANNABIS HOLDINGS CORP. (CSE: CANN) ("Heritage" or "Company") is pleased to announce that it has placed an order to acquire an additional two Vitalis Q90 extraction systems, scheduled to be delivered to the CannaCure Corporation ("CannaCure") facility in Fort Erie, Ontario.
The units are scheduled to be delivered by the end of May, 2019, and are anticipated to be installed and operational by July, 2019. Once delivered Heritage will have a total of six Vitalis Q90's machines amongst its subsidiaries, making it one of the largest extraction footprints within the industry. The rapid expansion rate over the past three months has positioned the Company to have the capacity to both process its own hemp supply, as well as compete for toll processing jobs that other Licenced Cannabis Companies may look to contract out.
The Company feels that with the upcoming changes to the proposed regulations for derivative products for cannabis will create a significant increase in demand for extracted products and extraction services. By adding these additional extraction systems, ensures that the Company will be better positioned to meet the projected demand.
With this purchase, we will double our extraction capacity at our Fort Erie facility by this summer. We continue to prepare our infrastructure for the upcoming changes to the Cannabis Act to include vaping, edibles and infusions
says Clint Sharples, CEO of Heritage
Our extraction team continues to grow as Purefarma Solutions trains more technicians to be deployed across our network. We are confident that we will be able to meet the demand for our products and services as the market expands
The Company is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licenced producers, through its subsidiaries PhyeinMed Inc. 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.