Heritage Cannabis Holdings (CANN.C) announced they have received their first order for the RAD and Premium 5 products from New Brunswick.
RAD is one of Heritage’s three value brands, along with their feelgood and munchy brothers brands, which together represent 45% of their sales. Premium 5 is CANN’s only premium brand and accounts for 15% of their total sales.
Once Cannabis NB receives their order, 19 Heritage SKUs will be available in New Brunswick, including vapes and resin.
“We are very pleased to be entering the New Brunswick market with Cannabis NB’s order of our RAD and Premium 5 brands. Consumers in New Brunswick will have a broad range of choice of extract and extract derivative products across our high-quality Premium 5 and favourably priced RAD brands, and we expect the positive reaction and strong following for our products to continue growing,” stated Heritage’s President of the Recreational Division David Schwede.
Like Quebec, New Brunswick has not allowed private stores to get involved in the cannabis market, recently rejecting a proposal for a private seller to take over the market.
New Brunswick has seen a huge increase in cannabis sales recently. In the final quarter of 2020, they sold nearly $20 million worth of cannabis, which was 76% higher than the previous year’s final quarter sales.
Because all the stores in New Brunswick are operated by a single entity, if the Heritage sales are strong and they become a staple of for Cannabis NB, it could be very positive for Heritage Cannabis.
Following the news, the share price of CANN.C rose slightly to $0.135.
Full disclosure: Heritage Cannabis Holdings is an Equity.Guru marketing client.