Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) Is A Cannabis Runner

Heritage Cannabis Holdings Corp (OTCMKTS:HERTF) has been running up the charts ever since bottoming at the end of last year. The stock is up more than 200% so far this year and looks set to continue its climb. Heritage has been posting a string of positive news releases that have been driving the enthusiasm surrounding the stock. As we continue our coverage of this cannabis runner, there's a lot to like with Heritage Cannabis Holdings. HERTF Daily ChartHeritage Cannabis HoldingsFirst up, a little background info for those that are not familiar with the company. Heritage Cannabis Holdings Corp is focused on becoming a vertically integrated cannabis provider that currently has two Health Canada approved licensed producers, through its subsidiaries PhyeinMed Inc. and CannaCure Corp. both regulated under the Cannabis Act Regulations, and its subsidiary Purefarma Solutions, which will be providing extraction services within the Company. Heritage is focused on advancing its scale and technology footprint to compete both domestically and internationally.Purefarma, based in Kelowna, BC, brings an experienced extraction team, which is a key aspect of the overall growth strategy for Heritage. The Purefarma team will expand its premium CBD and THC oil offerings within the PhyeinMed and CannaCure Licensed Producer infrastructure, as both LPs intend to obtain amended licenses to include extraction in the near future. Purefarma has an existing supply agreement for 1,600 acres of hemp available through partner farmers, which has been harvested this season and available for the 2019 consumer market.First Cannabis HarvestLast month, Heritage announced its first cannabis harvest at the Fort Erie location of its subsidiary CannaCure Corporation. As a result of the success of the first harvest, CannaCure intends on rolling immediately into their second grow, utilizing the same genetics as the original crop. Plants are scheduled to be introduced into the grow room environment within the next few weeks. CEO Clint Sharples said:

"We're proud to share this important milestone with our community, stakeholders and industry partners. This harvest signals our advancement in our production objectives and our continued growth within the cannabis industry. I would like to thank our cultivation team who worked hard over these past 10 weeks, including the holidays, to ensure our first crop was a success. We are on schedule to meet our 2019 production targets and expect multiple successful harvests in the coming months when CannaCure and PhyeinMed are producing at full capacity."

Extraction Capacity ExpansionHeritage has expanded its extraction capacity. Two new units were delivered to CannaCure Corp in Fort Erie, ON, and one new unit to be installed in addition to the Company's existing extraction unit at Falkland, BC in the PhyeinMed location. Once the installation of all four systems are completed, and the necessary licenses from Health Canada are obtained, Heritage will become one of the largest processing companies in Canada in terms of extraction capacity.The highly calibrated extraction machines will be temporarily installed in re-purposed clean rooms as CannaCure prepares for the buildout of phase 2. The planned second phase will include dedicated extraction rooms and other ancillary extraction related services, with anticipated completion of August 2019 at an estimated cost of $1 million.Once certified, the Fort Erie location will have a potential annual processing capacity in excess of 150,000 kilograms of dried cannabis or hemp input per year, which could produce up to 6,500 kilograms of cannabis resin on an annual basis.Heritage will have a potential combined extraction capacity of 300,000 kilograms through its Falkland and Fort Erie facilities. Both CannaCure and PhyeinMed have applied and are waiting to be awarded their Standard Processing Licence from Health Canada, allowing both locations to begin extracting dried cannabis and hemp.Bottom LineCurrently trading with a market cap of $51 million, HERTF is one of the most exciting plays in the cannabis sphere. Considering the excitement surrounding pot stocks, the bull run for HERTF looks to be just getting started.We will be updating our subscribers as soon as we know more. For the latest updates on HERTF, sign up below!Disclosure: We have no position in HERTF and have not been compensated for this article.Image courtesy of Pexels