Plan would expand total production space to 100,000 square
feet
VICTORIA, Nov. 28, 2016 /CNW/ - Emerald Health
Therapeutics Inc. (TSXV: EMH) ("Emerald" or the "Company")
today announced that it has executed a non-binding letter of intent
to lease up to 32 acres of Agricultural Land Reserve (ALR) lands in
Metro Vancouver, BC. Having
successfully grown and sold dried cannabis and oils under the
Marihuana for Medical Purposes Regulations (MMPR), now Access to
Cannabis for Medical Purposes Regulations (ACMPR), Emerald is
moving forward on its plan to expand its operations and
capability.
Emerald intends to significantly increase its production of
cannabis and cannabis oils through a multi-phase expansion plan
that leverages its experience in building, growing, and selling
cannabis under Health Canada regulation for Licensed Producers
(LP). In phase I, Emerald proposes to build a modular hybrid
greenhouse growing facility with 50,000 square feet of production
space using its team of experienced builders, designers, and
growers. The Company's proposed expansion plans will require
approval from Health Canada and the Company expects that its
procedural expertise and experience as an LP under the ACMPR will
assist in obtaining the required approvals from Health Canada.
Concurrently with phase I, Emerald plans to begin phase II
expansion of its modular facility to add an additional 50,000
square feet of production space and advanced processing facilities
intended to be operational soon after phase I. Emerald expects its
planned facilities would be one of the lower-cost cannabis
production facilities in Canada,
taking full advantage of the moderate temperatures, number of hours
of sunshine and lower electricity costs enjoyed by ALR lands in
Metro Vancouver compared to other provinces.
"Having the experience and capability to scale up operations
combined with the opportunity to lease up to 32 acres of ALR lands
is a game changer for Emerald," stated Jim
Heppell, Lead Director of the Company. "We have researched
facilities built by other Licensed Producers and have brought in
our contacts from the life science industry to design one of the
most cost-efficient cannabis production facilities in Canada. We have spent many months of planning
and with the years of experience of our management team we expect
to be able to build out Phases I and II in a timely fashion and
feed the production and consumer demands of the anticipated
Canadian recreational market. Emerald's plans would result in the
company having 100,000 square feet of production space with room to
increase its total production space to more than one million square
feet in the future."
ON BEHALF OF THE BOARD
Jim Heppell
Lead Director
Emerald Health Therapeutics Inc.
Emerald Health
Therapeutics wholly owns Emerald Health Botanicals, which has been
granted a license under the ACMPR to cultivate and sell medical
cannabis, and to produce and sell medical cannabis oils in
Canada.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements Regarding Forward Looking
Information
Certain statements in this press release constitute
forward-looking statements, within the meaning of applicable
securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking statements" involve
known and unknown risks and uncertainties that could cause actual
and future events to differ materially from those anticipated in
such statements.
Forward-looking statements include, but are not limited to,
statements with respect to the lease of new property, completion of
build-out of new production facilities, increased production of
cannabis and cannabis oils, receipt of Health Canada approvals,
commercial operations, including production and sales of medical
marijuana, anticipated costs and revenues, projected size of
market, quantities of future medical marijuana production and other
information that is based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management.
Emerald Health Therapeutics Inc. does not intend, and does not
assume any obligation, to update these forward-looking statements
except as required by law. These forward-looking statements involve
risks and uncertainties relating to, among other things, inability
to negotiate and sign a definitive lease agreement, failure to
obtain Health Canada and other regulatory approvals, failure to
obtain necessary capital, results of production and sale
activities, the Company's historical experience with medical
marijuana operations, uninsured risks, regulatory changes,
availability of production facilities, changes in prices and costs,
actual operating and financial performance of facilities, equipment
and processes relative to specifications and expectations as well
as the other risk factors set out in the Company's annual
information form. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
SOURCE Emerald Health Therapeutics, Inc.