Emerald Health Therapeutics Welcomes Historic Passing of Bill C-45 to Legalize Adult-Use Cannabis in Canada
June 19 2018 - 7:35PM
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF)
(Emerald) today applauds the Canadian government’s historic passing
of Bill C-45 (Cannabis Act) to end Canada’s near century-long
prohibition of recreational cannabis and usher in a new era of
cannabis regulation.
“Today is a historic moment for Canada with the
government’s approval of the Cannabis Act, which will provide a new
legal framework and establish Canada as a globally recognized
leader of cannabis legalization. We are the first G7 country to
federally legalize cannabis for medicinal and recreational use.
Moving forward, the world will look to Canada when developing their
own rules and regulations,” said Chris Wagner, CEO at Emerald.
“We support the government’s efforts to ensure
we keep cannabis out of the hands of children and profits out of
the pockets of organized crime. At Emerald, we support the right of
patients across Canada to access safe and affordable medical
cannabis and we will continue to advocate for tax-exempt status for
medical cannabis. In addition, we support building on this
regulatory framework, furthering cannabis research and education,
and fostering comprehensive communication in order to allow this
industry to mature and consumers to make informed choices.”
To conclude, Mr. Wagner stated: “We respect the
people who made this day possible: government officials and social
advocates who believed in a safer, more well-regulated system for
Canadians. We will continue to uphold our commitment to deliver
high-quality product to consumers, advance product innovation, and
expand our production capacity to meet anticipated demand. At
Emerald, we envision a valuable cannabis industry that will work in
the best interests of Canadians and we will continue to focus on
our goal of enhancing the health and well-being of others through
cannabis science and product innovation.”
With the introduction of legalized recreational
cannabis in Canada, Emerald is making great strides towards
achieving its goal of large-scale, high-quality, low-cost cannabis
production via multiple projects:
- Currently retrofitting its 50-percent owned 1.1 million
square foot greenhouse in Delta, BC, which has its cultivation
license and is expected to generate 46,000–52,000 kg in 2019 and
more than 75,000 kg/year when the facility reaches full
production.
- Acquired Licensed Producer Agro-Biotech, the assets of which
include a Health Canada cultivation license and a 75,000 square
foot purpose-built facility in Saint-Eustache, Québec; estimated
full production capacity is targeted to exceed 10,000 kg/year
starting in 2019.
- Planning to construct a 500,000 square foot hybrid indoor and
greenhouse cannabis growing facility in Metro Vancouver.
Emerald looks forward to participating in the
launch, evolution, and future success of the Canadian adult-use
cannabis market.
Emerald is available for comment on the historic
passing of Bill C-45.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics (TSXV:EMH)
(OTCQX:EMHTF) (Frankfurt:TBD) is a Licensed Producer under Canada’s
Access to Cannabis for Medical Purposes Regulations and produces
and sells dried cannabis and cannabis oil for medical purposes.
Emerald is preparing to serve the anticipated legal Canadian
adult-use cannabis market starting in 2018. Emerald owns 50% of
Pure Sunfarms, which is converting a licensed existing 1.1 million
square foot greenhouse in Delta, BC and is now in commercial
production. It owns Agro-Biotech, a Québec-based licensed cannabis
grower with a 75,000 square foot indoor facility and is planning to
add a 500,000 square foot greenhouse in Metro Vancouver. Emerald’s
team is highly experienced in life sciences, product development,
large-scale agri-business, and marketing, and is focused on
developing value-added cannabis-based products with potential
wellness and medical benefits. Emerald is part of the Emerald
Health group, which is broadly focused on developing
pharmaceutical, botanical, and nutraceutical products that may
provide wellness and medical benefits by interacting with the human
body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more
information or contact:
Rob Hill, Chief Financial Officer, Emerald (800)
757 3536 Ext. #5
Ray Lagace, Investor Relations Manager, Emerald
(800) 757 3536 Ext. #5invest@emeraldhealth.ca
John Bowes, Media Relations, DDB Public
Relations416-529-5775 john.bowes@can.ddbpr.com
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the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements: Certain statements made in this press release that are
not historical facts are forward-looking statements and are subject
to important risks, uncertainties and assumptions, both general and
specific, which give rise to the possibility that actual results or
events could differ materially from our expectations expressed in
or implied by such forward-looking statements. Such statements
include legalization of non-medicinal cannabis; production capacity
of various facilities; expansion of facilities; and anticipated
production costs.
We cannot guarantee that any forward-looking
statement will materialize and readers are cautioned not to place
undue reliance on these forward-looking statements. These
forward-looking statements involve risks and uncertainties related
to, among other things, failure to obtain regulatory approvals;
failure to obtain necessary financing; results of production and
sale activities; results of scientific research; regulatory
changes; changes in prices and costs of inputs; demand for labour;
demand for products; as well as the risk factors described in the
Company’s annual information form and other regulatory filings. The
forward-looking statements contained in this press release
represent our expectations as of the date hereof. Forward-looking
statements are presented for the purpose of providing information
about management's current expectations and plans and allowing
investors and others to obtain a better understanding of our
anticipated operating environment. Readers are cautioned that such
information may not be appropriate for other purposes. The Company
undertakes no obligations to update or revise such statements to
reflect new circumstances or unanticipated events as they occur,
unless required by applicable law.
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