Mr.
Clint Sharples of Heritage reports
HERITAGE SIGNS PROCESSING AND SUPPLY TERM SHEET WITH CANNTAB
Heritage Cannabis Holdings Corp. has signed a processing and supply term sheet with Canntab Therapeutics Ltd. for the purpose of capsule manufacturing.
Under this term sheet, Heritage's subsidiary, Purefarma Solutions, will provide processing services for hemp supplied by Canntab to its specification as required for the production of Canntab's planned rollout of its 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," said Jeff Renwick, chief executive officer 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," stated Clint Sharples, chief executive officer 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.
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 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.
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