Emerald Health Therapeutics Announces Amendment from Health Canada for Pure Sunfarms’ Cultivation License, Expanding Cannab...
September 06 2018 - 7:00AM
Emerald Health Therapeutics, Inc. (TSXV: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 its
fourth amendment to the cultivation license for its Delta 3
greenhouse in Delta, BC. This amendment permits Pure Sunfarms to
expand its cannabis production area to 550,000 square feet – half
of the 1.1 million square foot Delta 3 production facility. The
newly licensed area is expected to be in full production by
mid-October of this year.
“It’s a remarkable achievement to now have
550,000 square feet – half of the 1.1 million square foot Delta 3
facility – approved for production just six months since receiving
the initial cultivation license,” said Michael DeGiglio, CEO of
Village Farms. “I am tremendously proud of the Pure Sunfarms
team.”
“Pure Sunfarms is making great strides to
achieve high-quality, low-cost cannabis production ahead of the
Canadian government’s legalization of adult-use cannabis on October
17,” said Chris Wagner, CEO of Emerald.
In July, Pure Sunfarms received its sales
license from Health Canada, permitting it to sell cannabis produced
in the Delta 3 greenhouse facility. 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
for 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 (nine of which are now licensed) optimized for year-round
harvesting (more than 85 harvests annually) and an automated
process line encompassing harvesting, trimming, drying and
packaging.
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 (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 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 Quebec-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 agribusiness, 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(800) 757
3536 Ext. #5
Ray Lagace, Investor Relations Manager(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 nonmedicinal 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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