Emerald Health Therapeutics Announces Amendment to Pure Sunfarms’ Cultivation License, Substantially Expanding Cannabis Pro...
June 27 2018 - 7:00AM
Emerald Health Therapeutics, Inc. (TSX-V:EMH) (OTCQX:EMHTF)
(“Emerald”) and Village Farms International, Inc. (“Village Farms”
or the “Company”) (TSX:VFF) (OTC:VFFIF) today announced that their
50/50 joint venture for large-scale, low-cost, high-quality
cannabis production, Pure Sunfarms, received from Health Canada an
amendment to its cultivation license for its Delta 3 greenhouse in
Delta, BC. This amendment permits Pure Sunfarms to substantially
expand its cannabis production to 225,000 square feet of the
1.1-million square foot Delta 3 production facility.
In mid-May, Pure Sunfarms initiated
commercial-scale production on 130,000 square feet at the Delta 3
greenhouse, which is now fully utilized, with harvesting expected
to begin in August. Planting in the newly-licensed area will
commence this week and is expected to be completed by the end of
July. Pure Sunfarms expects to have the full 1.1 million square
foot Delta 3 facility, one of the single largest cannabis growing
facilities in the world, converted to cannabis production by year
end.
The technologically-advanced Delta 3 greenhouse
design is based on decades of large-scale, low-cost agricultural
production experience and extensive cannabis expertise, resulting
in a state-of-the-art facility with 17 grow rooms optimized for
year-round harvesting (more than 85 harvests annually) and an
automated process line encompassing harvesting, trimming, drying
and packaging. The greenhouse is designed to cultivate more than
200,000 cannabis plants concurrently.
“We are thrilled to expand Pure Sunfarms’
production area to 225,000 square feet,” said Michael DeGiglio,
Director, Pure Sunfarms and CEO of Village Farms. “Leveraging
Village Farms’ deep experience designing greenhouse operations
globally for high-value crops, Pure Sunfarms has developed the
Delta 3 greenhouse to optimize operating conditions for the highest
quality and yield with continuous year-round harvesting. We are not
surprised to see our first commercial-scale crop thriving in this
environment and remain firmly on track for our production targets
in 2018 and beyond.”
“The Delta 3 production facility is maturing at
an outstanding pace thanks to our senior cultivation, financial,
and operational teams. We are making great strides to achieve
large-volume, high-quality, low-cost cannabis production and
anticipate receiving our sales license before the onset of
recreational sales on October 17th,” said Chris Wagner, Director,
Pure Sunfarms, and CEO of Emerald Health Therapeutics. “With the
Canadian government’s historic legalization of adult-use cannabis,
we are focused on meeting the needs of both medical and
recreational consumers in this new era of cannabis regulation.
About Village Farms International,
Inc.
Village Farms International, Inc. is one of the
largest and longest-operating vertically integrated greenhouse
growers in North America and the only publicly traded greenhouse
produce company in Canada. With more than 750 years of accumulated
master grower experience coupled with advanced proprietary
technology and environmentally sustainable growing practices,
Village Farms is highly resource efficient. Village Farms produces
and distributes fresh, premium-quality produce with consistency
365-days a year to national grocers in the U.S. and Canada from its
large-scale Controlled Environment Agriculture (CEA) greenhouses in
British Columbia and Texas, as well as from its partner greenhouses
in BC, Ontario, and Mexico.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics (TSX-V: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 fully legalized Canadian
adult-use cannabis market starting October 17, 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
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 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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