Heritage Cannabis Holdings Corp. announced that it has entered into term sheet with new investor Merida Capital Partners IV LP, a fund managed by Merida Capital Partners, LLC for private placement of senior unsecured convertible promissory notes for gross proceeds of $1,500,000 on September 13, 2021. The notes carry an annual interest rate of 15% and may convert at any time at $0.07 per share. The notes will mature in 24 months from the date of issuance.