/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VICTORIA, Feb. 10, 2017 /CNW/ - Emerald Health
Therapeutics Inc. (TSXV: EMH) ("Emerald" or the
"Company") is pleased to announce the closing today of its
public offering (the "Offering") announced on February 1 and 2, 2017. Pursuant to the
Offering, the Company has issued 10,235,000 units (the "Units") at
a price per Unit of $1.35 (the
"Offering Price"), for gross proceeds of $13,817,250. Dundee Capital Partners (the
"Underwriter") acted as underwriter for the Offering. The
10,235,000 Units issued include 1,335,000 Units issued and sold
pursuant to the over-allotment option granted by the Company to the
Underwriter, which was exercised in full.
Each Unit consists of one common share of the Company (a
"Share") and one-half of one common share purchase warrant (each
full warrant, a "Warrant"). Each Warrant entitles the holder
thereof to acquire one Share at a price of $2.00 per Share for a period of 24 months
following the closing of the Offering. In the event that the
closing price of the Company's Shares on the TSX Venture Exchange
is greater than $2.50 per Share for a
period of 20 consecutive trading days, the Company may accelerate
the expiry date of the Warrants by giving notice to the holders
thereof and in such case the Warrants will expire on the 30th day
after such notice is given.
Emerald issued to the Underwriter a total of 307,050
compensation options in connection with the Offering. Each
such compensation option entitles the holder to acquire a Unit at a
price of $1.35 per Unit for a period
of 24 months following the closing of the Offering.
The Company intends to use the net proceeds of the Offering to
accelerate facility expansion and for working capital and general
corporate purposes.
The Units were offered by way of a base shelf prospectus and a
shelf prospectus supplement (together, the "Prospectus") filed in
all of the provinces of Canada,
except Quebec.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities being offered have not been,
nor will they be, registered under the
United States Securities Act of 1933, as amended, and
may not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the
United States Securities Act of 1933, as amended, and
applicable state securities laws.
Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. operates primarily through
Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned
subsidiary of the Company and a Licensed Producer under the Access
to Cannabis for Medical Purposes Regulations (the "ACMPR").
Botanicals is authorized to cultivate and sell both dried medical
cannabis flowers and medical cannabis oils in Canada. Botanicals currently operates an
indoor cultivation facility in Victoria,
British Columbia, and plans to construct a much larger
purpose built hybrid greenhouse facility on 32 acres in metro
Vancouver. Botanicals prides
itself on being one of Canada's
most medically focused licensed producers and on having one of the
industry's most qualified management teams with respect to
pharmaceutical drug discovery, development and distribution.
Botanicals intends to capture unique niches in both the medical and
future adult use cannabis markets through its proprietary strains,
defensible intellectual property, and superb client experience.
Please visit https://www.emeraldhealth.ca/ for more
information.
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, the use of proceeds from the Offering.
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, the
ability of the Company to negotiate and complete future
funding transactions; variations in market conditions; and other
risk factors described in the Prospectus and the Company's other
filings with the applicable Canadian securities regulators, which
may be viewed at www.sedar.com. Actual results may differ
materially from those expressed or implied by such forward-looking
statements.
"Neither 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."
SOURCE Emerald Health Therapeutics, Inc.