Heritage Cannabis Holdings Corporation announced that it has entered into a Letter of Intent (LOI) to form a Joint Venture Partnership (JV) with Empower Clinics Inc. (Empower), based in Sandy, Oregon, for the extraction of hemp for cannabidiol (CBD) oil production, and formulated CBD products. Terms of the LOI will have Heritage and Empower each with a 50% ownership of the Joint Venture.
Heritage, via its wholly owned subsidiary Purefarma Solutions Inc. (Purefarma), will install extraction units and related downstream extraction equipment inside Empower’s existing licensed hemp processing facility. In addition, Purefarma will train and supervise the staff on the proprietary methods of extraction and oil production that it produces in Canada. The JV will be equally funded by both companies with Heritage investing an initial $500,000 for start-up funds as the JV completes the build out and secures the high quality hemp supply from local growers.
Once operational, the JV will begin producing proprietary branded products for Empower’s corporately owned physician staffed health clinics in Washington State, Oregon, Nevada, and Arizona. These clinics include Sun Valley Health (Sun Valley), a subsidiary of Empower, which has direct marketing access to over 165,000 consumers and growing as Sun Valley expands its franchised network nationwide. The JV will utilize formulations from Heritage, as well as manufacture Sollievo branded products that Empower distributes throughout its clinic network. The JV will also look to manufacture white label products for other distributors throughout the U.S., and it is currently considering several potential customers to produce tinctures, topicals, gel caps, and formulated bulk CBD oil.
Heritage Cannabis Holdings Corporation is a vertically integrated cannabis provider organization that currently has two Health Canada approved licensed producers, through its subsidiaries Voyage Cannabis Corporation and CannaCure Corporation both regulated under the Cannabis Act Regulations. Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and BriteLife Sciences that is focused on cannabis-based medical solutions. Heritage, as the parent company, is focused on providing resources for its subsidiaries to advance their products and services to compete both domestically and internationally.
Empower is a vertically integrated and growth-oriented cannabidiol (CBD) life sciences company, and a multi-state operator of medical health and wellness clinics, operating the Sun Valley Health clinic brand, for its nine corporate locations and for franchises in the United States. As a CBD product manufacturer under the Sollievo brand, the company distributes its lines through clinics, on-line, and through retail partners. Extraction operations are currently being developed in the company’s new extraction facility in Oregon.
This was reported by Heritage Cannabis Holdings Corporation on September 17, 2019.
Contact information: Clint Sharples, Chief Executive Officer, Heritage Cannabis Holdings Corporation, 929 Mainland Street, Vancouver, British Columbia V6B1S3; 416-705-8529; Email: email@example.com; Website: www.heritagecann.com