Heritage Cannabis (CANN.C) achieved a weekly revenue exceeding $1 million during the second week of March, 2021.
“This achievement is an exciting milestone for Heritage as we continue to develop and innovate new products within our already popular brands…while there is still much more work to be done to make this a consistent outcome, we are energized by our first million dollar week in the Canadian market. We continue to make significant progress on both our medical and recreational product offerings. Expanding our international strategy in conjunction with growing larger in all Canadian provinces will continue to drive this revenue number higher in the future,” stated Clint Sharples, CEO of Heritage
This milestone represents the Company’s first time exceeding $1 million since launching its own brands in 2020. Heritage Cannabis has released an onslaught of popular cannabis-based brands including Purefarma, Pure Vida, Premium 5 and RAD. In addition to the aforementioned brands, the Company’s latest feelgood. brand has performed exceptionally well in the market despite having only just launched on March 9, 2021.
Over the past few months, Heritage Cannabis has expanded its business footprint substantially across Canada. The Company has been able to push out new brands while simultaneously making its products available in provinces like Ontario, British Colombia, Manitoba, and Nova Scotia. Additionally, with a growing list of over 80 SKUs, Heritage Cannabis has steadily received provincial orders for a variety of its brands. Despite product availability still ramping up in Ontario and Alberta, the Company was able to achieve $1 million over the course of one week.
Heritage Cannabis has managed to successfully launch new brands in Canada as cannabis-based products continue to gain popularity. With a growing and increasingly competitive market, the Company’s most recent milestone is well deserved. Overall, there is certainly a healthy following supporting Heritage Cannabis and its goal of competing both domestically and internationally. The Company is likely to find continued success with future releases considering how well its latest brands have performed.
Heritage Cannabis’s stock price opened at $0.145 and currently sits at $0.14.
Disclaimer: Heritage Cannabis is a client of Equity Guru.
