The company has also been delisted from stock exchanges in both the U.S. and Canada.
International marijuana company Heritage Cannabis Holdings Corp. completed its restructuring plan and sale of the company to HAB Cann Holdings Ltd, a move that has taken the resulting entity private and delisted the business from stock exchanges in Canada and the United States.
Heritage – which had a footprint in both the Canada and the U.S. cannabis markets – was trading on the Canadian Securities Exchange under the ticker symbol CANN until Aug. 26, and on the pink sheets on the Over the Counter Markets in the U.S. under the symbol HERTF until Aug. 28, according to a press release.
The purchase by HAB Cann Holdings effectively gets Heritage out of bankruptcy, following a Canadian court order in June that granted the business protection under the Companies’ Creditors Arrangement Act (CCAA). The order approved a stalking horse agreement between Heritage and HAB Cann Holdings.
Under the terms of the sale, Heritage had to turn over all purchased shares to HAB Cann Holdings and terminate all other shares in the company.
The Ontario Securities Commission on Aug. 27 approved a partial revocation of a failure-to-file cease trade order, and HAB Cann Holdings will pursue a full revocation, the company said in the release.
Heritage’s cannabis assets include a pair of licensed manufacturing facilities and several brands, such as Purefarma, Pura Vida, RAD, and Premium 5.
[[{“value”:”The company has also been delisted from stock exchanges in both the U.S. and Canada.
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