Emerald Health Therapeutics (TSXV:EMH)
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1 Year : From Aug 2017 to Aug 2018
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.
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