Heritage Cannabis Holdings Corp. (CSE:CANN) (OTCQX:HERTF) said Tuesday it has signed a joint venture sales and processing agreement with Noble Growth Corp., a cannabis cultivator focused on creating beneficial strains that contain sought after CBD, flavonoid, and terpene profiles for both recreational and medical usage.
Under the deal, Noble agreed to produce some of their highly sought-after cultivars for Heritage to strategically expand its presence in the premium dried flower markets across the nation under the RAD Reefer Reserve and Pura Vida Legacy brands.
“With this joint venture with Noble, we are focused on market penetration and profitability,” David Schwede, CEO of Heritage, said. “Heritage now has access to Noble’s rare-genetics that will be used to create our top-shelf products, including RAD Reefer Reserve and Pura Vida Legacy branded flower. This Agreement along with Noble’s amazing genetics will contribute to expanded market share for our brands in the flower category – the largest category in Canada – and contribute to our existing strong revenue streams and higher margin business.”
Noble, founded by a group from the legacy market, produces handcrafted, hand-trimmed premium flower which is finished to perfection.
“We are happy to see our product hitting provincial shelves and being able to make a notable impact in the continued improvement of flower quality in Canada,” Gavin Delainey, head of cultivation for Noble, said.
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Heritage’s shares traded 0.86% higher at $0.047 per share at the time of writing Tuesday morning.