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HERITAGE CANNABIS HLDGS - $HERTF STOCK NEWS

Welcome to our dedicated page for HERITAGE CANNABIS HLDGS news (Ticker: $HERTF), a resource for investors and traders seeking the latest updates and insights on HERITAGE CANNABIS HLDGS stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect HERITAGE CANNABIS HLDGS's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of HERITAGE CANNABIS HLDGS's position in the market.

News
Heritage Cannabis Announces Commencement of Sale and Investment Solicitation Process
Rhea-AI Summary
Heritage Cannabis Holdings Corp. announces the commencement of a sale and investment solicitation process under the Companies’ Creditors Arrangement Act. The process involves the sale of the company's business and assets, with a stalking horse bid already in place. Interested parties have until May 10, 2024, to submit proposals.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
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News
Heritage Cannabis Obtains Creditor Protection to Pursue Restructuring and Sales Process
Rhea-AI Summary
Heritage Cannabis Holdings Corp. (HERTF) announces creditor protection under CCAA, with $8.4 million debt demand. KPMG appointed as monitor. Potential delisting from CSE.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-77.5%
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News
Heritage Cannabis Reports Q4 2023 and Year-End Financial Results
Rhea-AI Summary
Heritage Cannabis Holdings Corp. achieved significant growth in gross margin for the year, with over 50% growth compared to the previous year, and an impressive 628% growth for the fourth quarter. The company reported increased revenues driven by the success of its RAD vape products and Adults Only brand. Cost of sales decreased, leading to improved gross margins. The company also made strategic operational and corporate moves to boost production and expand market reach.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.61%
Tags
earnings
News
Heritage Cannabis Announces Closing of Previously Announced Sale Lease Back Transaction and Third Amendment to its Senior Secured Loan
Rhea-AI Summary
Heritage Cannabis Holdings Corp. has closed a sale and leaseback agreement for its real estate properties in Ontario and British Columbia, receiving a net purchase price of $9,714,475. The company also amended its credit facilities and existing warrant certificates, reducing its remaining term loan debt by approximately 64% to $5,256,379.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.33%
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News
Heritage Cannabis Announces Balance Sheet Transforming Sale Lease Back Transaction and Third Amendment to its Senior Secured Loan
Rhea-AI Summary
Heritage Cannabis Holdings Corp. has entered into binding agreements to sell its real estate properties in Ontario and British Columbia for a net purchase price of $9,714,475 and lease them back. The lease terms include a 12-month free rent period, representing approximately $1,389,000 of savings. The purchase price will be used to reduce the company's remaining term debt by approximately 64% to $5,256,379. The remaining term financing has been extended until January 31, 2025, and the company retains its revolving line of credit of up to $5,000,000. The existing warrant certificates held by BJK will be amended to extend the expiry date and reprice the exercise price. CEO David Schwede is thrilled with the agreement as it reduces the company's debt and positions Heritage for further growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.29%
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none
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News
Heritage Cannabis Officially Begins Sales in the Recreational Market in the State of New York
Rhea-AI Summary
Heritage Cannabis Holdings Corp. has officially commenced recreational product sales in the state of New York. The company's RAD branded vape and concentrate products are now available in New York, marking the third state where Heritage's brands are sold. The New York market is projected to be valued at over $4 billion within five years.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.5%
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none
News
Heritage Cannabis Announces the Purchase of an Additional Extraction Machine, Doubling its Hydrocarbon Processing Capacity and Adding EU GMP Extraction Capabilities
Rhea-AI Summary
Heritage Cannabis Holdings Corp. announces procurement of EU GMP certified extraction machine to double hydrocarbon processing capacity.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.59%
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News
Heritage Cannabis Reports Q3 2023 Financial Results
Rhea-AI Summary
Heritage Cannabis Holdings Corp. reports continued year-over-year growth in revenue and gross margin, with a 47% increase in gross margin over Q3 2022. Sales in Missouri and West Virginia combined reached over $3.2 million. Cost of sales decreased by 10.6% in Q3 2023. The Company recorded a comprehensive loss of $1,061,856 for the quarter. Heritage has entered the recreational cannabis market in New York and the cannabis-infused beverage market in Canada. They also shipped their first purchase order to Australia. Financial statements are available on SEDAR+.
Rhea-AI Impact
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End-of-Day
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earnings
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News
Heritage Cannabis Enters the Québec Market with Initial Products from its Pura Vida Brand to be Listed with Société québécoise du cannabis
Rhea-AI Summary
Heritage Cannabis Holdings Corp.'s Pura Vida products approved for listing by SQDC in Quebec, expanding distribution across Canada.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.41%
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none
News
Heritage Cannabis Announces Appointment of Interim Chief Financial Officer
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.38%
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management
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HERITAGE CANNABIS HLDGS

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HERTF Stock Data

3.45M
863.52M
14.03%
Medicinal and Botanical Manufacturing
Manufacturing
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United States of America
Kelowna