Sugarbud Craft Growers entered into a series of contracts today, including a manufacturing agreement with Heritage Cannabis Holdings (CANN.C) and a product purchase and supply agreement with Namaste Technologies (N.V) subsidiary, CannMart, according to a press release.
Sugarbud’s deal with Heritage is more of a renewal, as their previously announced manufacturing deal completed the final development and qualification portion for its full-spectrum vape cartridges.
“Our high quality, 100% cannabis vape products are a natural and logical extension of our inhaled product strategy. Sugarbud vape products leverage and embody the quality, consistency, flavour profiles and aromas found in our exceptional craft cannabis flower. We are confident that our partnership with Heritage will equip Sugarbud to deliver high quality products to consumers with the safety, integrity and exceptional outcomes they demand,” said John Kondrosky, CEO of Sugarbud.
For the rundown—Heritage is a long-time equity guru client, cannabis company, cultivator, producer and now they have their own ecommerce arm. CannMart is Namaste’s ecommerce platform for cannabis, paraphernalia, accessories and education. Sugarbud is an Alberta-based boutique craft cannabis company involved in cultivation and production.
Heritage is going to continue to provide Sugarbud with extraction, formulation and production services for their vape cartridges, and CannMart is going to distribute and sell them in the provinces and territories, sending them out to authorized distributors under their own sales license. Sugarbud’s doing all their own packaging, and expects to begin shipping their extract products out by the end of Q1, 2021.
Heritage shares dipped $0.02 today and are presently trading at $0.18.
—Joseph Morton
Full disclosure: Heritage Cannabis is an equity.guru marketing client.
