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.
Join us on our journey of making lives better through
cannabis science.
For investor and media inquiries please email
invest@emerald.care
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.