Canadian producer Heritage Cannabis has been approved to import a medical CBD product into Brazil.
The approval came from the Brazil Health Authority (ANVISA), according to a Monday news release.
“This is a very important step for Heritage as we continue to expand the reach of our high quality products beyond the borders of Canada,” CEO David Schwede said in a statement.
“Brazil has a very healthy market outlook due to its large population, and we are poised and in position to leverage our early entry in the market and take advantage of the many opportunities in the CBD product space.”
The company did not state the quantity or the value of any forthcoming shipments to Brazil.
Heritage said two additional products are awaiting final approval from ANVISA.
Heritage, based in Toronto, has two licensed manufacturing facilities in Canada.
Shares of Heritage trade on the Canadian Securities Exchange as CANN.