On February 25, 2019, Heritage Cannabis (CANN.C) announced a significant expansion of its medical cannabis footprint, with the addition of BriteLife Sciences – a newly-formed 100% owned subsidiary.
Heritage currently has two Health Canada approved LPs, through its subsidiaries PhyeinMed and CannaCure. Its subsidiary Purefarma will be providing extraction services, as Heritage focuses on “advancing its scale and technology footprint to compete both domestically and internationally.”
Heritage has executed a series of moves, gaining traction in the medical, health and wellness sectors including December 2018’s acquisition of Purefarma – a manufacturer and wholesale processor of premium CBD oils.
CBD – a non-psychoactive cannabis compound – treats a wide variety of ailments including age-related bone and muscle pain.
CBD demand is catalysed by the medical needs of aging baby boomers – and that is the mother of all of demographic waves.
According to Health Daily News, seniors are giving medical marijuana rave reviews. In a new survey, seniors using medical marijuana reported it reduced pain and decreased the need for opioid painkillers.
“I was on Percocet and replaced it with medical marijuana. Thank you, thank you, thank you,” said one senior. “Medical marijuana has allowed me to function in my work and life again,” stated another senior.
“Medical marijuana led seniors to taking less medications overall — opioids and non-opioids — and they had better function and better quality of life,” confirmed Dr. Diana Martins-Welch – a N.Y. geriatric and palliative medicine physician.
By 2021, the number of people older than 65 years will jump from 617 million to 656 million (about 11% of the total population).
According to The Economist Intelligence Unit global annual health spending reached $7 trillion dollars in 2015, and is expected to reach to $8.7 trillion dollars in the next two years.
Heritage is making moves the market understands, and likes.
On October 17, 2018 – the day rec weed became legal in Canada – the company was trading at .28. In a post-legal rec funk forewarned by Equity Guru’s Chris Parry, it fell to a December 20, 2018 low of .15 – then rebounded today’s share price of .43.
BriteLife Sciences will “look to introduce various medical related propriety branded products and partnerships with other recognized industry leaders”.
Dr. Chris Spooner, Heritage’s Chief Science Officer, will oversee the strategic direction while Cyndi McLean will take the role as V.P of Biz Development for BriteLife, responsible for sales and client relationship management.
McLean created and executed the Boucher Institute of Naturopathic Medicine’s Professional Development Curriculum for naturopathic medicine students.
A values-based communications strategist, McLean has more than 20 years executing brand visions and strategic plans.
“Developing a strong focus on the medical cannabis market is one of the pillars of our corporate growth strategy,” stated Debra Senger, Heritage’s Chief Strategy Officer. “Having the right people in place has allowed us to expand our plans to include many options which were previously unavailable to us.”
BriteLife will have the advantage of drawing from Dr. Spooner’s and Ms. McLean’s medical networks and years of experience in the pharmaceutical and medical cannabis market.
The BriteLife division will include a significant educational component targeted at assisting patients with individualized custom solutions. Heritage is right to be aggressively expanding.
This cannabis thing ain’t no blockchain buzz.
Another Heritage subsidiary, PhyeinMed, has received an updated cultivation license, allowing the company to sell and distribute:
- dried cannabis to qualified license holders
- cannabis plants and seeds to licensed nurseries
- cannabis plants and seeds to any entity authorized to sell cannabis
PhyeinMed has completed Phase 1 construction of its grow facility, consisting of 15,500 sq ft of production space. Phase 11 consists of 10 greenhouses, with four slated for completion this fall and the remaining six by spring 2019.
“Total grow canopy from the second phase of construction will deliver 41,580 square feet of grow space,” wrote Equity Guru’s Ethan Reyes, “The company aims to produce its first harvest in Q1 2019.”
“We expect that the addition of BriteLife will expand our markets and introduce new ways for us to reach medical cannabis patients,” stated Clint Sharples, CEO of Heritage “The exclusive modifications that we have incorporated into our existing extraction methods allow us to easily isolate a few of the less known therapeutic cannabis components which can be used in our medial product lines.”
Full Disclosure: Heritage Cannabis is an Equity Guru marketing client and we own the stock.