Vancouver, B.C. / TheNewswire / April 19, 2018 – HERITAGE CANNABIS HOLDINGS CORPORATION (CSE: CANN) ( “Heritage ” or “Company ”) is pleased to announce that it has signed an agreement with GLE Brands Inc (“GLE”)., a branding company inclusively representing the ‘Cheech’s Private Stash’ (“Private Stash”), Cannabis brand of Iconic Hollywood actor, stand-up comedian and Cannabis legalization advocate, Cheech Marin. Mr. Marin is widely known for being one half of the comedy duo ‘Cheech and Chong’ which gained prominence in the 70s and early 80s for its public use of cannabis in mainstream movies.
The agreement calls for Heritage to have exclusive rights to use cannabis and cannabis related products utilizing the Private Stash brand throughout Canada for an initial period of two years, with the agreement automatically renewing for an additional year upon achieving various milestones. In addition, Heritage will have the right to supply products for export as GLE executes on their strategy to expand the Private Stash brand to other countries and appropriate export licences are obtained.
“We chose Heritage based on the strength of their team, and the relationship we’ve had with some management in the past” says Lisa Marcus, President of GLE “We are confident in their ability to execute, and their commitment to quality of product was of particular importance to us. We see Canada as an important next step as we expand the brand.”
Representatives of GLE, as well as Cheech Marin himself, will play an active role in assisting Heritage with the use of the brand, and ensuring the quality of the products meets their high expectations. Current branding and products being used in the USA can be viewed at www.cheechsprivatestash.com , however all Canadian packaging will be altered to meet all Federal Government regulations.
Cheech Marin states “I am excited to see the expansion of my personal Private Stash brand to Canada, I look forward to working with the quality team that Heritage has assembled, in order to help ensure the brand integrity, I have worked to create”. “It Will Always Be Good” - is my personal commitment to all our customers.”
Terms of the agreement include GLE being paid certain royalties depending on retail sales targets, after all taxes and distribution costs are deducted, as well as various milestone payments being awarded upon achieving revenue levels.
“We are very excited to have such an iconic name joining our team” says Clint Sharples, Chairman of Heritage “Cheech’s celebrity, personal brand and name recognition is synonymous with quality cannabis and we have high hopes for launching these products in Canada.”
About Heritage Cannabis Holdings Corporation
The Company is currently listed as a marijuana issuer. It is a Parent and Development Company with strategic plans to continue to acquire Cannabis related companies.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORPORATION
“Jag Bal” Jagdip Bal President and CEO For more information contact: Jag Bal Tel: 604-628-1767 jbal@heritagecann.com
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