Emerald Health’s Two Cannabis Production Expansion Sites Progressing for Legalized Adult-Use Market in 2018
October 18 2017 - 7:00AM
Emerald Health Therapeutics Inc. (“EHT”) (TSXV:EMH) (OTCQX:EMHTF),
through Emerald Health Botanicals Inc. ("Emerald"), its wholly
owned subsidiary and a Licensed Producer under the Access to
Cannabis for Medical Purposes Regulations (“ACMPR”), has submitted
license applications to Health Canada for approval of two new
growing sites. Emerald is preparing for the large-scale production
of cannabis in anticipation of legalization of the adult-use
cannabis market on July 1, 2018.
In September, Emerald filed an application to
Health Canada for its Pure Sunfarms’ Delta, BC facility, which is a
partnership with Village Farms (TSXV:VFF). This partnership
combines Emerald’s extensive medical cannabis growing experience
and broad portfolio of cannabis genetics with Village Farms’ many
decades of greenhouse growing expertise and large-scale, quality,
low-cost production of an array of plant products and a currently
producing, highly efficient 25-acre, 1.1 million square feet
greenhouse facility. Emerald and Village Farms are retrofitting
this greenhouse from tomato growing into a configuration optimized
for large-scale cannabis cultivation. With a key goal of the
partnership to be a large, very low-cost cannabis producer, Pure
Sunfarms also optioned from Village Farms an additional 3.7 million
square feet of existing highly-efficient greenhouse space in the
same Delta complex.
In October, Emerald submitted its application
for its own Richmond, BC, facility, for which Emerald is initially
constructing 150,000 square feet of hybrid indoor and greenhouse
growing space to produce cannabis in conjunction with legalized
recreational use. This 32-acre site can be expanded to 1 million
square feet. This facility will also house extraction and other
processing capabilities as Emerald pursues value-added downstream
product development.
In early October, Health Canada granted approval
of Emerald’s second site application related to its Saanich
facility, which is currently producing medical cannabis for sale as
dried flower and oils, and serves as Emerald’s research and product
development facility. This additional 7,000 square feet site, which
is adjacent to the existing site, will allow expansion of this
operation, subject to receiving the necessary approvals from the
District of Saanich.
“As a licensed producer that is currently
operating exclusively in Canada, submitting these license
applications to Health Canada is a vital step as we execute our
expansion plans,” said Chris Wagner, Chief Executive Officer of
EHT. “We have appreciated our working relationship with Health
Canada, which has already allowed us to secure a second site
license, and look forward to working with them through their review
of these additional applications."
Join us on our journey of making lives better through
cannabis science.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (TSXV:EMH)
(OTCQX:EMHTF) operates 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 partnership with Village Farms, called Pure
Sunfarms, 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 associated with 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; contributions of cash to
the JV; international opportunities for the Company; commencement
of clinical trials; 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; results of
production and sale activities; the Company's historical experience
with medical marijuana operations; results of scientific research;
uninsured risks; regulatory changes; difficulties in construction
or in obtaining qualified contractors to complete construction or
conversion of facilities; 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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