Heritage Cannabis Holdings Corp said its Opticann subsidiary has signed two agreements with a pair of well-established Australian companies for the supply of medical cannabis products.
The company noted it recently completed the first shipment of medical cannabis CBD/CBDA filmstrips totalling $60,000, which were formulated with Heritage CBD raw material and manufactured using IntelGenx VersaFilm technology.
“As we continue to grow our market and brand distribution in Canada, it is important for us to monitor and act on new markets with a strategic approach in order to capitalize on new market opportunities,” Heritage Cannabis Holdings CEO David Schwede said in a statement.
READ: Heritage Cannabis sees fiscal 3Q revenue rise by 114% as it expands its product portfolio and distribution in Canada
“By partnering with these well established companies in Australia, we can leverage their local knowledge and expertise, while minimizing the costs and risks of entering new markets,” Schwede added.
Heritage Cannabis medical division president Umar Syed also commented, stating: “Our proprietary rapidly dissolving sublingual CBD Filmstrips are unique (CB4 Control filmstrips in Canada) in providing medical patients with rapid onset and maximum bioavailability of CBD versus oral products.”
The company added that the CBD filmstrips are produced at IntelGenx’s manufacturing facility under Canadian Good Production Practices (GPP) conditions and will be registered as a product for sale with the Australian Department of Health’s Therapeutic Goods Administration as medicinal cannabis.
Heritage Cannabis offers innovative cannabis products to both the medical and recreational legal cannabis markets in Canada and the US operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, feelgood., CB4 and ArthroCBD.
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