Heritage Cannabis Holdings Corp (CNSX: CANN) Bulls Keep Charging

Heritage Cannabis Holdings Corp (CNSX: CANN) is showing no signs of slowing down after its flying start to the year. The company has continued to underscore its credentials as a cannabis runner just as was the case in our previous update. A 200%-plus rally underscores the strength of the upward momentum that has continued to push the stock up the charts.

CANN Catalysts And Share Price Analysis

A spike in share price and market activity has not come on speculation but on a string of positive developments that have continued to underscore the company’s long-term prospects. For starters, the company’s wholly-owned subsidiary CannaCure is fresh from reporting its first ever harvest.Purefarma, the company’s other subsidiary, is also fresh from shipping proprietary designed biomass isolation and a compression unit to Saskatchewan. Heritage Cannabis sentiments have also inched higher on its extraction systems receiving manufacturing certification.Given the strides that the company has made in becoming a vertically integrated cannabis player, it does not come as a surprise that the stock has taken off. A stellar start to the New Year means the stock is closing in on its 52-week highs of C$0.72. HERTF Daily ChartA rally followed by a close above the C$0.72mark should reaffirm the bullish uptrend, setting the stage for the stock to continue powering high. Conversely, pullbacks from current highs will have to contend with support at the C$0.55 mark.A violation of the support level could see the stock plunging to the C$0.44 mark, the next support level. Above the C$0.44 mark, Heritage Cannabis remains well positioned to continue powering high in continuation of the strong uptrend.A breach of the C$0.44 support level, on the other hand, could see the stock turning bearish with the possibility of dropping to the C$0.22 level.

About Heritage Cannabis

Heritage Cannabis is working on becoming a vertically integrated cannabis player. The company owns two licensed producers PhyeinMed and CannaCure. In addition, the company owns Purefarma Solutions and BriteLife Sciences that provide cannabis extraction services.

Why is Heritage Cannabis Surging?

Shares of Heritage Cannabis are surging in response to the strides the company has made in becoming a diversified vertically cannabis player. The company has expanded its footprint into the cultivation of cannabis having also set toes on providing extraction services through its wholly owned subsidiaries.CannaCure, reporting a first ever-successful harvest, attests to the progress the company has made on the cultivation front. Plans are already underway to extract cannabis from the harvest for use in medical sales.

“We are extremely pleased with the result of our first crop. I am very proud of the cultivation team. Their experience, care, and passion for their work really came through and resulted in a successful first crop. The optionality provided by our recently awarded processing license at Falkland gives the Company the ability to maximize profits from all sources,” states Clint Sharples, CEO of Heritage.

Cannabis Extraction Milestone

Purefarma shipping its first biomass isolation and compression to Saskatchewan is another development that continues to affirm Heritage Cannabis prospects. The proprietary designed system is designed to remove undesirable plant material all in the effort of increasing active pharmaceutical ingredients for dried hemp feedstock.The P1200 machine should drive both efficiency and quality of the source material that Heritage Cannabis received from its hemp suppliers. Heritage Cannabis has already commissioned the delivery of a similar machine, later in the summer, in anticipation of growing hemp supply in Western Canada.The delivery of the P1200 machine also comes on the heels of Heritage Cannabis confirming that installed extraction systems at PhyeinMed have received manufacturing certification.

“As we continue to invest in our growth, the timing couldn’t be better to receive certification of our extraction systems. We have positioned ourselves very well to be able to service the rising demand for refined concentrates in Canada. Execution of our business plan continues to be the focus in our company,” said Clint Sharples, CEO of Heritage.

Bottom Line

Heritage Cannabis finds itself in a phase of robust growth given the milestones its subsidiaries continue to achieve. Right from the cultivation and harvesting of cannabis to extraction for medical sales underscores the milestones the company has achieved so far.The company is slowly becoming a vertically integrated cannabis operator, something that underscores the love it continues to receive in the market. As it stands, the stock remains well positioned to continue surging.We will be updating our subscribers as soon as we know more. For the latest updates on CNSX: CANN, sign up below!Disclosure: We have no position in CNSX: CANN and have not been compensated for this article.