A widening distribution net with award winning products and it shouldn’t come as much of a surprise that Heritage Cannabis (CANN.C) has had an excellent October so far and shows no signs of slowing down. They’ve widened their distribution and availability chain a little more in the past week, adding their wares with Patient Choice, an online virtual portal, and through expanding their offerings in both BC and Manitoba, but we’ll get to both in a bit.

First, we need to look at their chart.

Source: stockwatch.com

They closed out on the day with a 29.6% boost on their price and if you bought in on equity guru’s own Lukas Kane‘s financials revelation that the company was near profitability, then congrats on your near double. The month is far from over, though, and there’s still more to chat about.

A few months ago we announced the arrival of the Purefarma and Pura Vida brands for Heritage. Purefarma vape cartridges containing sativa and indica properties called respectively sun and moon, as well as a CBD offering. But also Pura Vida, full spectrum sativa, indica and hybrid honey oil vapes, separated into daybreak and nightfall themes respectively. Well, they’re on shelves now and beyond that they’ve been added to the Patient Choice online platform to be picked up at your leisure. Patient Choice is a Health Canada licensed virtual portal that you can use whenever you like to get your cannabis needs met. It’s not just Heritage either, there’s a number of different licensed producers on processors represented.

Here’s a helpful graphic:

“Medical cannabis patients deserve convenience, choice, and competitive pricing. Through our licensed Patient Choice medical sales platform, we’re proud to offer patients a wide range of high-quality Canadian products, and we’re excited to make Heritage’s full spectrum tinctures and vapes available,” said Joel Taylor, co-founder of Patient Choice.

If you’re in the market for getting your Heritage fix offline, their vape products can be bought now in B.C. Courtesy of the Liquor Distribution Branch channels, and in selection other licensed retail locations in Manitoba. All seven of their vape cartridge products, including Pura Vida CBD, 4:1 honey oil, and indica, sativa and hybrid oil vape cartridges, Purefarma Moon, Sun and Earth vapes are available. In Manitoba, the selection is limited to Purefarma CBD Earth, Pura Vida’s indica, sativa and hybrid honey oil cartridges.

“We are thrilled to have our vape cartridges on the shelves in Manitoba and British Columbia. Purefarma indica and sativa have already sold out in B.C. — a clear indication of the strong demand for our full spectrum products, which contain no potentially harmful additives or back added terpenes. Heritage is delivering products with the highest quality standards while remaining affordably priced,” said Clint Sharples, CEO for Heritage.

Heritage’s products have won awards. Back in 2016, Pura Vida THC and CBD extract products won first place awards at the Emerald Cannabis Cup, and then again in 2018, they took first and third in the concentrate and flower categories. They also placed first in the Best Vaporizer and Sativa Concentrate categories, and grabbed second place for their Indica and Hybrid Concentrates.

What else happened?

The above portion is mostly what’s happened this week, but there’s some background required to properly preface the developments.

CANN Q3, 2020 Financial Highlights:

  • Gross revenue of $2.4-million in Q3 2020 compared with nil in the three-month period ended July 31, 2019.
  • After adjusting for excise taxes, CANN reported net revenue of $2.3-million
  • Gross margin percentage loss on sales net of excise taxes of 42%. The COVID-19 outbreak had a negative impact on the company’s revenue, maintaining efficient production and operating metrics.
  • Net loss of $15,000 or zero cents per common share
  • As at the end of Q3 2020, the company had cash and cash equivalents of $10.2-million

Unfortunately, with COVID-19 take-two hanging over all of our heads like a viral sword of damocles, we have to wonder where we’re all going to be in the next few months, and that’s no different for companies like Heritage. They’ve managed to make the most of the limited time we have between lockdowns, and if we do end up moping around for the first few months of 2021 it’ll be good to know that we’ve still got our medicine on lock.

—Joseph Morton

Full disclosure: Heritage Cannabis is an equity.guru marketing client.

Written By:

Joseph Morton

Joseph is a Vancouver-based author and journalist with both a communications degree and journalism diploma (and a few novels) under his belt. His joie de vivre is to spin difficult technical topics into more human-centric narratives. Buy him a coffee and he'll talk your ear off for hours about privacy issues, blockchain, cryptocurrency and martial arts. Don't talk to him if you're either a tomato, a bully, or if you're not a fan of either 1984 or Tender is the Night. No. You can still talk to him. Just be prepared to be told why you're wrong.

More By This Author
Featured Content
British Columbia cannabis
British Columbia weed
Canadian cannabis companies
Cannabis 2.0
Heritage Cannabis
Manitoba cannabis
Manitoba weed
Pura Vida
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments