Heritage Cannabis Holdings Corp said it signed a joint venture sales and processing agreement with Noble Growth Corp, a cannabis cultivator focused on creating beneficial strains that contain sought-after cannabinoid, flavonoid, and terpene profiles for both recreational and medical usage.
Under the deal, Heritage said Noble will produce some of its highly sought-after cultivars for it to strategically expand its presence in the premium dried flower markets across Canada under the RAD Reefer Reserve and Pura Vida Legacy brands.
Noble currently houses more than 300 Pheno-hunted genetics in tissue culture boasting high tetrahydrocannabinol (THC) and Terpene levels and rare genetics that customers are looking for, the company added.
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“Heritage has reached top 10 status in Canada at a rapid pace in the concentrate, vape and oil categories and we are excited to replicate this success in the flower category,” Heritage CEO David Schwede said in a statement.
“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,” he added.
Founded by a group from the legacy market, Heritage said high-quality craft flower has been the ethos of Noble since its inception. All premium flower is handcrafted, hand-trimmed and finished to perfection to fill the void in the current Canadian Craft flower market.
“We’re very stoked to be growing for a group of true industry people, brands like Pura Vida and RAD are what this industry needs,” Noble’s head of cultivation Gavin Delainey said.
“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.”
Heritage Cannabis is positioning itself to be a leader in the North American cannabis sector, offering innovative products to both the medical and recreational legal cannabis markets in Canada and the US. The company currently 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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