Heritage Cannabis Holdings Corp (CSE:CANN) (OTCMKTS:HERTF) announced Monday that its subsidiary Cannacure Corporation has been granted an industrial hemp license by Health Canada.
The industrial hemp license, which took effect on April 3 and runs until April 3, 2023, will allow Cannacure to bulk store, sell industrial hemp, flowering heads, leaves or branches to other license holders, and to import and export grain.
"Receiving our industrial hemp license provides a key advantage for Cannacure as it allows for the purchase and storage of greater quantities of hemp, supporting further extraction opportunities to participate in the rapidly growing hemp and CBD markets,” said CEO Clint Sharples in a statement.
"This license allows Heritage to further leverage the existing facility infrastructure at Cannacure and is part of our path to successfully building better capacity for our cannabis company," he added.
Toronto-based Heritage Cannabis 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 a Medical Services Division, which is focused on cannabis-based medical solutions.
Heritage, as the parent company, provides the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
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