TORONTO--(BUSINESS WIRE)--Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce the launch of Premium 5 Ltd. (“Premium 5”) brand RAD, a new value brand dedicated to providing cannabis concentrate/extract consumers with affordable products while still maintaining the highest quality standard possible. The variety of different product formats seek to appeal to the unique needs and preferences of all types of cannabis consumers.
On December 23, 2020, Heritage announced it entered into a definitive agreement to acquire all of the issued and outstanding securities of Premium 5, a Canada-based recreational and medical cannabis company that creates high-quality full spectrum concentrates under the brand Premium 5, and the newly launched RAD brand.
“There is a strong market for our product offerings through Premium 5, but we acknowledge the growing consumer demand for more affordable concentrate offerings,” said David Schwede, CEO, Premium 5. “With RAD, we aim to leverage our strong reputation to delight our consumers with quality products at a value price point.”
High prices have been a regular consumer complaint after Canada legalized recreational cannabis in 2018. Although the legal market has continued to grow, the legacy market still owns a significant percentage of cannabis sales in the country. For consumers, there’s an uncertainty surrounding the ingredients and additives in products that are purchased from the legacy market that could potentially be harmful. RAD is committed to attracting consumers to the benefits of regulated and tested products through legacy-competitive pricing and in the interest of public health and safety.
RAD is entering the Canadian cannabis market with 21 SKUs with plans to launch a number of new SKU’s in the coming months. Products have now been ordered and shipped into Alberta and British Columbia and are soon expected to be going into the remaining provinces and territories.
Additionally, Heritage announces that it has terminated its previously announced term sheet with Cannahive Inc. (“Cannahive”) dated August 18, 2020. Heritage and Cannahive were unable to settle the terms of the definitive joint venture agreement. Heritage is now pursuing various alternative options for edibles.
About Heritage Cannabis Holdings Corp.
Heritage is 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 licenses and the Purefarma, Pura Vida and Premium 5 brands, Heritage focuses on extraction and the creation of derivative products for recreational consumers, as well as the formulation of cannabis based medical solutions. In the U.S., Heritage operates under Opticann Inc., a Colorado based oral and topical cannabinoid company with the rights to exclusively sell CBD and CBG products made with the patented VESIsorb® drug delivery system for optimized absorption and stability. As the parent company, Heritage is focused on providing the resources for its subsidiaries to advance their products or services to compete both domestically and internationally.
About Premium 5 Ltd.
Premium 5 products offer a feeling and a flavor that only the terpenes from a High Terpene Full Spectrum concentrate can give and encourages consumers to find their feeling. The Company is dedicated to creating high-quality full spectrum concentrates, selling a premium high THC experience, and providing a healthier, more discrete way to medicate/consume.
Products being offered under the Premium 5 brand are crafted from indoor grown, fresh-frozen, whole bud that has been carefully selected for optimal cannabinoid and terpene profiles to offer customers only the most exceptional quality.
Premium 5 prides themselves in being consumer-driven to delight their partners, their consumers, and their communities. For more information visit https://premiumfive.ca/.
RAD is committed to Pricing Weed Like It’s The 80’s — delivering quality concentrates and competitive price points to meet the needs and preferences of all types of cannabis consumers, while effectively harnessing the captivating power of nostalgia in our brand messaging.
Products being offered under RAD are made from high quality flower inputs selected specifically for their Indica, Sativa, and Hybrid profiles, and excellent terpene profiles, offering consumers a high-quality choice while delivering on an affordable price point.
For more information, please visit www.reallyawesomedope.com
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.