Emerald Health Plans for 1,000,000 Square Feet of Cultivation Space by End of 2018 -- CFN Media

Date : 12/06/2017 @ 9:00AM
Source : GlobeNewswire Inc.
Stock : Emerald Health Therapeutics (EMH)
Quote : 4.12  0.14 (3.52%) @ 3:59PM

Emerald Health Plans for 1,000,000 Square Feet of Cultivation Space by End of 2018 -- CFN Media

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CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering Emerald Health Therapeutics Inc.’s (TSX-V: EMH) (OTCQX: EMHTF) ongoing and planned expansion to over one million square feet of cultivation space, expected to be operational by the end of 2018.

New Facility Approved

Emerald Health recently announced that the first 75,000 square feet of its Metro Vancouver greenhouse facility has met the requirements of a preliminary paper-based review of Health Canada’s Office of Medical Cannabis (OMC), which puts it on track to move into the cultivation phase next year. The OMC confirmed satisfactory provision of information regarding the security plan, record keeping and tracking systems, QA reports, and security clearances among key personnel.

“As with Health Canada’s fast paper-based review of our Pure Sunfarms facility, we appreciate their quick preliminary review of our licensed producer application for Emerald Health’s fourth site,” said CEO Chris Wagner in a recent press release. “With significant, secure supply from our large-scale Pure Sunfarms partnership and Emerald facilities, and our value-added product development plans, we intend to be well positioned for growth in the adult use market.”

The new facility will consist of two 75,000 square foot modules of hybrid indoor-greenhouse space expected to be completed by summer 2018. By the end of 2018, management anticipates expanding the facility to a total of over 500,000 square feet of cultivation space with corporate offices and additional space for extraction of oils and processes to create other value-added products. Situated on a 32-acre site, this facility can be expanded to one million square feet.

Pure Sunfarms Partnership

Emerald Health partnered with Village Farms (TSX-V: VFF) earlier this year to retrofit its existing 25-acre 1.1 million square foot greenhouse being used to grow tomatoes to cultivate cannabis, with the goal to be a large-scale, low-cost producer. In September, the partnership, called Pure Sunfarms, submitted an application to Health Canada to become a cannabis Licensed Producer. Emerald Health also optioned an additional 3.7 million square feet of existing greenhouse space in the same Delta complex.

“Partnering with Village Farms, one of North America’s largest and most efficient greenhouse growers, on this tremendous opportunity, is a very exciting development for Emerald,” said Executive Chairman Avtar Dhillon, MD, in a press release at the time. “Village Farms is a global leader in greenhouse growing and, importantly, an expert in the complex matter of safety for agricultural consumables.”

Management anticipates that the first 250,000 square foot conversion of the 1.1 million square foot greenhouse will be completed in February, with a first harvest ready prior to adult-use legalization, anticipated in July of 2018. The second 250,000 square foot expansion is targeted for completion in the third quarter of 2018, which would bring the total cultivation space up to 500,000 square feet. Since it’s a 50/50 partnership, Emerald Health would essentially own roughly 250,000 square feet of production by the end of next year.

Following completion of the whole 1.1 million square foot retrofit, Pure Sunfarms has an option to similarly develop an additional 3.7 million square feet of greenhouse production area. Combined with the 1 million square feet from the Metro Vancouver campus, this puts Emerald Health at 5.8 million square feet of potential production area and among the very largest licensed producers, in terms of production potential, both in Canada and internationally.

Please follow the link to read the full article: http://www.cannabisfn.com/emerald-health-plans-1000000-square-feet-cultivation-space-end-2018/

For more information, visit the company’s website or investor presentation.

About CFN Media

CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

Learn how to become a CFN Media client company, brand or entrepreneur: http://www.cannabisfn.com/featuredcompany

Download the CFN Media iOS mobile app to access the world of cannabis from the palm of your hand: https://itunes.apple.com/us/app/cannabisfn/id988009247?ls=1&mt=8

Or visit our homepage and enter your mobile number under the Apple App Store logo to receive a download link text on your iPhone: http://www.cannabisfn.com

Disclaimer:

Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/

CFN Media
Frank Lane
206-369-7050
flane@cannabisfn.com

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