Heritage Cannabis Holdings (CANN.C) subsidiary Purefarma added another piece of their portfolio expansion today, adding three vape cartridges to their existing catalog of intended product launches.
The company started a scaled rollout back in May, announcing first the arrival of the Purefarma brand of formulated extraction products in May, and followed that with a promised launch of Pura Vida brand of vape cartridges. The Purefarma brand is sold in the recreational cannabis market through their Voyage Cannabis subsidiary.
“We have targeted a pricing strategy for our products in order to deliver what consumers have been demanding — high-quality products at reasonable prices. At Heritage we are able to deliver this by keeping our fixed costs as low as possible, while eliminating as many traditional manufacturing and distribution costs as we can. Our goal is to deliver strong margins for Heritage, while providing competitively priced high-quality product options to consumers,” said Clint Sharples, chief executive officer of Heritage.
The Purefarma offerings include vape cartridges filled with concentrates containing sativa and indica properties, called Sun and Moon respectively, which are extracted using the companies own proprietary extraction process. For CBD, the company offers the Purefarma Earth CBD vape cartridge.
The company’s extraction process produces full-flavour vapes without the necessity of additional terpenes, or carrier oil. The products are formulated to maximize the bioavailability of the compounds, ensuring that the products offer the full effect of the strain specific benefits, which may not be normally available in a formulated distillate.
“Featuring premium hardware and packaging, and available to the consumer in the mid $30s range for a 500-milligram cartridge, our Purefarma vape cartridges are expected to be well received by our launch markets. The Purefarma Earth CBD vape cartridge is our most anticipated product launch and we are eager to fulfill the many requests we have been receiving for this distinctive product,” said Chris Pearson, vice-president of sales and marketing of Heritage.
In between Purefarma’s arrival in May and the announcement today is Pura Vida, the other offering of full spectrum sativa, indica and hybrid honey oil vapes, which they intend to launch in British Columbia, Alberta and Manitoba by the middle of next month. Not unlike Purefarma’s offerings, Pura Vida’s Daybreak and Nightfall tinctures are extracted from the same hand-selected cannabis, but it’s also formulated through crowd-sourcing client feedback.
Finding out what works directly from consumers is an unusual deviation from the standard operating procedures of the legal recreational cannabis industry, where one can expect to buy dustweed that’s been sitting on a shelf for eighteen months before finally landing at the dispensary.
So that’s a welcome change.
Heritage has streamlined its processes from manufacturing to consumer channels, letting them save money on distribution, but also giving Heritage the ability to offer Pura Vida products in the mid-$30 range for a 500-milligram cartridge, which is a decently competitive price when compared to other companies.
Whether or not that’s enough to save Heritage from this dumpster fire of a cannabis market is difficult to tell at this point.
Full disclosure: Heritage Cannabis is an equity.guru marketing client.