Northern Vine Labs Expands Dealer’s License with Health Canada
December 15 2017 - 8:30AM
Northern Vine Labs (“Company”), a subsidiary of Emerald Health
Therapeutics Inc. (“Emerald”) (TSXV:EMH) (OTCQX:EMHTF) and Abattis
Bioceuticals Corp. (“Abattis”) (CSE:ATT) (OTC:ATTBF), today
announced that Health Canada has approved an amendment to the
Company’s dealer’s license.
The license amendment provides the Company the
ability to transport, deliver and sell product to other Licensed
Dealers (LD), authorized persons under the Controlled Drug and
Substance Act (CDSA), and Licensed Producers (LP). Along with the
Company’s already authorized activities for analytical testing,
extraction, and import/export, this amendment also allows Northern
Vine Labs to broaden its business opportunities through the
production and sale of downstream cannabis products.
“This amendment helps expand the business
potential of our dealer’s license,” said Avtar Dhillon, MD,
Executive Chairman of Emerald. “With the new Proposed Approach to
the Regulation of Cannabis released by the Government of Canada, we
believe Northern Vine Labs is in a unique position to become a
leader in the analytical, international processing, and R&D
segments of the cannabis market.”
Northern Vine is a Licensed Dealer under the
provisions of the Canadian Controlled Drugs and Substances Act. An
LD is permitted to carry out certain business activities that
Emerald is not permitted to undertake as an LP under Access to
Cannabis for Medical Purpose Regulations (“CMPR), including the
import/export of cannabis and cannabis oils, as well as the
manipulation, formulation, dosage form, strength or package size of
cannabis, including mixtures with other additives, controlled
substances, and non-controlled substances. These opportunities
expand possible research and product innovation opportunities for
Emerald.
Emerald acquired 53% of Northern Vine from
Abattis in November, 2017.
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 Canada’s Access to Cannabis for Medical Purposes Regulations.
Through Botanicals, Emerald is authorized to produce and sell dried
medical cannabis flower and medical cannabis oil. It currently
operates an indoor facility in Victoria, BC, and is building a
500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with
expansion potential to 1 million s.f. to serve the anticipated
legal Canadian adult-use cannabis market starting in 2018. Emerald
also owns 50% of Pure Sunfarms, a partnership with Village Farms
that is converting an existing 1.1 million s.f. greenhouse in
Delta, BC from growing tomatoes to growing cannabis. Emerald’s team
is highly experienced in life sciences, product development and
large-scale agribusiness. Emerald is part of the Emerald Health
group, which is broadly focused on developing pharmaceutical,
botanical and nutraceutical products designed to provide wellness
and medical benefits by interacting with the human body’s
endocannabinoid system.
Please visit
www.emeraldhealth.ca for more information.
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 expansion of Emerald’s
business; creation of strategic development opportunities;
commercial operations; construction or conversion of production
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 to obtain regulatory approval for
closing of the proposed transaction or to meet the conditions set
out in the Agreement; 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 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.
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