Emerald Health Sees License Expansion of Pure Sunfarms Cannabis Production Operation to 687,000 Square Feet, one of Largest P...
December 10 2018 - 7:00AM
Emerald Health Therapeutics, Inc. ("Emerald" or the “Company”)
(TSXV:EMH; OTCQX:EMHTF) announced that its 50%-owned joint venture
for large-scale, low-cost, high-quality cannabis production, Pure
Sunfarms, received from Health Canada the fifth amendment to its
cultivation license for its 1.1 million square foot greenhouse in
Delta, BC. With an added approximately 137,000 square feet (half of
Quadrant 3), the total licensed cannabis production area is
approximately 687,000 square feet. The newly licensed area is
expected to be fully planted by the end of this week.
“Pure Sunfarms is already one of the largest
licensed cannabis production facilities in the industry, and we
expect completion of the conversion in Q1,” said Dr. Avtar Dhillon,
Executive Chairman and President of Emerald. “With deep cannabis
and large-scale greenhouse-growing expertise, established
operational systems, and multiple cannabis strains being grown,
Pure Sunfarms is achieving industry-leading quality and yields in
line with our expectations. We expect this facility to be in full
production in the first half of 2019, and aim for it to be one of
the best cannabis production operations in the industry.
“Pure Sunfarms has delivered to Emerald
contracted cannabis shipments that we are selling under the Emerald
brand. It is also selling to other LPs, with favourable spot market
pricing, as it awaits its packaging sales license to commence
direct sales to provincial distributors. Pure Sunfarms continues to
implement its plan to be a vertically integrated cannabis producer
and marketer.”
Pure Sunfarms has completed conversion of the
remainder of Quadrant 3 and is awaiting Health Canada approval for
this additional approximately 138,000 square feet of production
area. Pure Sunfarms expects to complete conversion of Quadrant 4
(approximately 275,000 square feet) by year end and anticipates
Health Canada approval of that additional area by the end of
January 2019. At a total licensed area of 1.1 million square feet,
Pure Sunfarms’ Delta greenhouse will be one of the single largest
cannabis growing facilities in the world.
All supplemental lighting is operational in
Quadrants 2 and 3, and is expected to be operational in Quadrant 4
upon start of production, supporting maximum yields during the
lower-daylight winter months. Supplemental lighting will be
installed in Quadrant 1, which was completed as per plan earlier
this year without supplemental lighting in order to permit
immediate production during the summer months when supplemental
lighting is not required. Quadrant 1 is expected to resume
production by the end of February 2019.
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 16 grow rooms (eleven now
licensed) optimized for year-round harvesting with more than 80
harvests annually.
About Emerald Health
Therapeutics, Inc.
Emerald Health Therapeutics, Inc. is a Canadian
licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint
venture in BC is completing the conversion of its 1.1 million
square feet (25 acre) greenhouse for cannabis cultivation in the
Lower Mainland and its Agro-Biotech operation in Québec is
completing its 75,000 square feet indoor facility. Commercial
production is expanding in both facilities. In addition, Emerald
has secured over 500 acres of hemp harvest in 2018 and has
contracted for approximately 1000 acres in 2019 to 2022, with the
objective of extracting low-cost cannabidiol. Emerald’s team is
highly experienced in life sciences, product development,
large-scale agri-business, and marketing, and is focused on
developing proprietary, value-added cannabis products for medical
and adult-use customers. Emerald is part of the Emerald Health
group, which represents a broad array of companies focused on
developing pharmaceutical, botanical, and nutraceutical products
developed to provide wellness and medical benefits by interacting
with the human body’s endocannabinoid system.
Please visit http://www.emeraldhealth.ca for
more information or contact:
Rob Hill, Chief Financial Officer(800) 757 3536
Ext. #5
Investor Relations(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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