VICTORIA, BC, April 17, 2017 /CNW/ - Emerald Health Therapeutics Inc. (TSXV: EMH) ("Emerald" or the "Company") today announced the launch of its CBD-25 and CBD-50 medical cannabis oils containing 25mg and 50mg of CBD per ml. Management believes these oils contain the highest amount of CBD per ml, with a nominal amount of THC, on the ACMPR market today, putting Emerald in a leading position for CBD medical cannabis extracts, an important dosage form for patients and their doctors.
Emerald created these new products based on its ongoing research to characterize cannabis strains and their attributes, which identified particularly high CBD cultivars optimal for CBD extraction. Emerald secured federal funding from the Canadian National Research Council's Industrial Research Assistance Program to support this research and is continuing to develop a product line with a high level of genetic and product diversity.
"These high CBD oils have minute amounts of THC and thus little to no psychoactive effects. Emerald is also actively developing capsules that will have the advantage of precise dosing in a format familiar to patients and doctors. We believe that capsules are the ideal form of delivery for patients with little or no experience with cannabis and will become the preferred delivery method in the medical cannabis industry," says Dr. Bin Huang, President & CEO of Emerald. "We look forward to conducting clinical studies to assess the efficacy of our formulations in the management of medical conditions such as insomnia and pain."
Emerald Supports Proposed Cannabis Act
Emerald strongly supports the Canadian government's recently proposed legislation regarding the legalization of adult-use cannabis in Canada, a significant step toward the implementation of adult-use cannabis in Canada on or before July 1, 2018.
"Emerald supports the federal government's legislative initiative to legalize, regulate and restrict access to cannabis by the Canadian public. Legalization is a considerable undertaking that will touch all aspects of Canadian society and has the potential to be viewed around the world as the leading benchmark for adult-use cannabis regulated at a national level. As one of 43 Licensed Producers, we are pleased to see the federal government's recognition of good production practices and desire to establish an efficient cross-country cannabis market. We look forward to participating in the future adult-use cannabis industry and aim to offer consumers the same level of quality, consistency, and experience that our current patients enjoy. Legalization would not only open the doors to general adult use of cannabis, but provide many consumers with the opportunity to explore the possible physiological effects of cannabis against conditions such as poor sleep and pain," said Dr. Avtar Dhillon, Executive Chairman of Emerald.
"In preparing to supply the adult-use cannabis market, we are rapidly expanding our cultivation space prior to legalized sales under the proposed regulatory framework. We are currently executing on Phases 1 and 2 of our expansion plan, which combined will initially add 100,000 square feet of purpose-built hybrid greenhouse space on 32 acres of land in Metro Vancouver. With close to $40 million dollars in the bank post our upsized financing with Eight Capital, Emerald is well capitalized for future growth."
For more information on our expansion plans, see our press release from February 22, 2017 and our investor presentation.
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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.
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 filing and effectiveness of the prospectus supplement; the use of proceeds from the Offering; and the anticipated closing date of 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, uncertainty with respect to the completion of the Offering; the ability to obtain applicable regulatory approval for the Offering; 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.