Heritage Cannabis Holdings Corp. CANN HERTF has successfully shipped its first order of 15,000 units of live resin concentrate vape cartridges to an established Australian company.
The company has also received a second purchase order for an additional 15,000 units expected to ship this summer.
The CEO of Heritage, David Schwede, highlighted the company's focus on supplying cannabis globally and expanding its market share beyond Canada.
“(...) Countries outside of Canada offer additional revenue streams along with strong margins that provide lucrative opportunities for Heritage," he said.
Heritage holds import permits that allow it to enter the Australian legal cannabis market, which is projected to experience significant growth in the coming years.
According to Grandview Research, “the Australian legal cannabis market was valued at US $66.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 29.6% from 2023 to 2030,” reads a press release.
Price action: On Tuesday, before the market closed, HERTF shares were trading at $0.0112 per share, a 36.59% up.
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