Heritage Cannabis Announces Twenty New Product Listings for the Ontario Cannabis Market
CANNANNEW REPORT

TORONTO–(BUSINESS WIRE)–$cann #cann—Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), today announced the upcoming launch of twenty new products that will be available in the Ontario cannabis market through the Ontario Cannabis Store (“OCS”) and retailers in the province. New products include flower, pre-roll, vape, edible and concentrates products. Under a recent call for new products, Heritage submitted products from their diverse portfolio for consideration by the OCS, twenty of which have received notice to purchase (NTP) from the OCS, an outstanding result for the Heritage product team. Heritage expects the new products to be available in Ontario in fall of this year. “Our product innovation team continues to hit it out of the park, creating exceptional products that have ‘forever SKU’ potential,” said David Schwede, CEO of Heritage. “We are consistently delivering disruptors to the market and have a strong pipeline of new SKU development under way.” Additionally, Heritage announces that on the advice of the Company’s compensation committee, the decision has been made to award certain executive employees and consultants (the “Parties”) a total of $391,000 based on the performance of those individuals in 2021, and the Company’s revenue in the most recent fiscal quarter. The Parties have elected to receive common shares in the capital of the Company in lieu of cash as consideration for their bonuses pursuant to the terms of certain debt conversion and exchange agreements (collectively, the “Debt Settlement Agreements”). As such, the Parties have collectively agreed to convert the $391,000 owed to them into common shares in the capital of the Company (the “Settlement Shares”). Pursuant to the terms of the Debt Settlement Agreements, the Company has issued 7,109,090 Settlement Shares to the Parties at a price of $0.055 per Settlement Share, calculated based on the 5-day volume-weighted average…

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