Emerald Health Therapeutics Continues to Grow Sales with First Cannabis Shipment to Ontario Cannabis Retail Corporation
March 14 2019 - 7:00AM
Emerald Health Therapeutics, Inc. ("Emerald" or the “Company”)
(TSXV:EMH; OTCQX:EMHTF) has fulfilled its first purchase order of
cannabis from Ontario Cannabis Retail Corporation, operating as the
Ontario Cannabis Store (“OCS”).
“As we scale up production in our wholly-owned,
premium indoor growing facility, Verdélite, and our large-scale,
state-of-the-art joint venture greenhouse operation, Pure Sunfarms,
we are consistently meeting our supply commitments of
Emerald-branded adult-use cannabis in British Columbia and
Newfoundland Labrador, and we are now prepared to provide the same
service to the Ontario Cannabis Retail Corporation and other
provinces,” said Dr. Avtar Dhillon, President and Executive
Chairman of Emerald. “We now have distribution access to over half
of the Canadian population of adult-users of non-medical cannabis.
We are advancing prospective supply agreements that we expect will
ultimately give us nation-wide market exposure.”
Currently, Emerald’s cannabis supply is provided
primarily through its 88,000 sq. ft. Verdélite indoor facility in
Saint Eustache, Quebec, and through Pure Sunfarms, its 50%-owned
1.1 million sq. ft. greenhouse facility in Delta, British Columbia.
It is working to expand sources and volume of indoor, greenhouse
and outdoor-grown cannabis and cannabinoid products. In 2018,
Emerald acquired 500 acres of harvested hemp and expects to
purchase approximately 1,000 acres of harvested hemp in 2019. It is
implementing steps intended to achieve large-scale extraction and
softgel encapsulation of cannabis products.
Emerald-branded products are expected to be
available through the OCS next week.
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 has completed the conversion of its 1.1 million
square foot (25 acre) greenhouse for cannabis cultivation in the
Lower Mainland and its Verdélite operation in Québec is completing
the build-out of its 88,000 square feet indoor cultivation
facility. Commercial production is expanding in both facilities.
Emerald secured over 500 acres of hemp harvest in 2018 and expects
to purchase approximately 1000 acres of harvested hemp in 2019 to
2022, to provide a low-cost source of cannabidiol (CBD). 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 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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