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Heritage Cannabis Holdings Corp. (C:CANN)

Business Focus: Alternative Medicine

Sector:  Healthcare Industry:  Pharmaceuticals
Company Contact
Address: Suite 600-77 Bloor Street
Tel: N/A
IR: See website
Key People
Clinton B. Sharples
Chairman of the Board
David Schwede
President, Chief Executive Officer, Director
Umar Syed
Corporate Secretary, President - U.S. and International Medical Products
Jasmine Paige
Interim Chief Financial Officer
Eoin Hegarty
Chief Operating Officer
Cory Larsen
Chief Commercial Officer
Business Overview
Heritage Cannabis Holdings Corp. is a Canada-based cannabis company offering products to both the medical and recreational legal cannabis markets in Canada and the United States. It focuses on extraction and the creation of extract and extract-derivative products and brands for adult use and cannabis-based medical solutions. It has a portfolio of cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, Adults Only, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the United States. In Canada, it operates through its subsidiaries, Heritage Cannabis West Corporation (Heritage West) and Heritage Cannabis East Corporation (Heritage East). Heritage West holds a Health Canada issued cultivation, processing, and medical and adult use sales license, as well as an industrial hemp license, a cannabis oil sales license, and a cannabis research license. In the United States, it operates through, Opticann Inc., an oral and topical cannabinoid company.
Financial Overview
For the nine months ended 31 July 2023, Heritage Cannabis Holdings Corp revenues increased 1% to C$21.8M. Net loss totaled C$6.1M vs. income of C$2.2M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net loss reflects Unrealized gain (loss) on contingent con decrease from C$8.3M (income) to C$0K, Salaries, wages and benefits increase of 31% to C$6.6M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $21.63M as of Jul 31, 2023
Annual revenue (TTM): $29.85M as of Jul 31, 2023
EBITDA (TTM): -$8.01M as of Jul 31, 2023
Net annual income (TTM): -$33.42M as of Jul 31, 2023
Free cash flow (TTM): -$1.23M as of Jul 31, 2023
Net Debt Last Fiscal Year: $10.62M as of Jul 31, 2023
Shares outstanding: 943,009,230 as of Jul 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization