Emerald Health Therapeutics Expands its Cannabis Supply with Purchase from Supreme Pharmaceuticals
September 19 2017 - 6:10PM
Emerald Health Therapeutics Inc. (EHT) (TSXV:EMH) (OCTQX:EMHTF)
today announced that its wholly owned subsidiary, Emerald Health
Botanicals Inc., has completed a purchase of dried cannabis from
Supreme Pharmaceuticals Inc.’s (Supreme) (TSXV:FIRE) subsidiary,
7ACRES.
“Emerald’s strategy emphasizes value-added
downstream product development. Our ability to source low-cost
cannabis from our own facilities is increasing through our Pure
Sunfarms joint venture, which presents industry-leading scale and
cost potential. Partners such as Supreme will help us
supplement our supply for the higher-end dried flower segment, both
for current patients and for the anticipated growth in domestic and
international demand for medical and adult-use cannabis,” said
Dr. Bin Huang, President and CEO of Emerald. “Supreme’s 7ACRES is a
high quality grower that meets our own standards for cultivation,
and which we are pleased to work with to expand our sources of
dried cannabis.”
Join us on our journey of making lives better through
cannabis science.
About Supreme Pharmaceuticals
Inc.
Supreme Pharmaceuticals is committed to becoming
a leading cultivator and distributor of sun-grown cannabis through
its wholly owned subsidiary 7 Acres. 7 Acres is a federally
licensed producer of medical cannabis pursuant to the ACMPR (access
to cannabis for medical purposes regulations) operating inside a
342,000-square-foot hybrid greenhouse facility.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (TSXV:EMH)
(OTCQX:EMHTF) operates primarily through Emerald Health Botanicals
Inc. ("Botanicals"), a wholly owned subsidiary and Licensed
Producer under the Access to Cannabis for Medical Purposes
Regulations. Botanicals is authorized to produce and sell both
dried medical cannabis flower and medical cannabis oil in Canada.
Botanicals currently operates an indoor facility in Victoria, BC,
and is progressing on expansion plans for a 32-acre property in
Metro Vancouver and a joint venture with Village Farms utilizing a
25 acre existing greenhouse complex in Delta, BC. Botanicals is one
of Canada's most medically focused licensed producers, with a team
highly experienced in life sciences product development and
large-scale agribusiness. Its vision is to be a leading provider of
cannabis products through its production capabilities, proprietary
genetics, value-added products and branding, and superb customer
experience. Emerald Health Therapeutics is part of the Emerald
Health group, which comprises multiple companies advancing diverse
botanical, nutraceutical and pharmaceutical products that may
provide wellness and medical benefits by interacting with the
body’s endocannabinoid system.
For investor and media contacts:
invest@emeraldhealth.ca
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 legalization of
non-therapeutic cannabis sales in Canada; participation in the
legalized non-therapeutic cannabis industry; growth in the
extract-based market; increased production of cannabis; commercial
operations; construction or conversion of production facilities;
applications for licensing; obtaining such licenses; commencement
of production of cannabis at the Company’s facilities; estimates of
production capacity at such facilities; international opportunities
for the Company; the Company becoming a leading Canadian supplier
of cannabis products; expected timing of any of the above matters;
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, failure of the federal government to
approve legislation legalizing sales of non-therapeutic adult-use
cannabis; failure to obtain Health Canada and other regulatory
approvals; failure to obtain necessary financing; availability of
production facilities; timeliness of government approvals and the
granting of permits and licenses; 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 and other filing 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.
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