Emerald Health Therapeutics’ Quebec Cannabis Operation Receives License Expansion for Total Facility Area
October 07 2019 - 7:00AM
Emerald Health Therapeutics’ (“Emerald”)(TSXV: EMH; OTCQX: EMHTF)
wholly-owned cannabis production facility, Verdélite, in St.
Eustache, Quebec, has received from Health Canada a license
amendment for the complete growing and processing area in its
88,000 square foot indoor facility. The additional 50,000 square
feet will allow Verdélite to expand production from 4 to 21
highly-controlled-environment grow rooms and to a total of 16
processing rooms. Planting in the newly licensed area is starting
immediately, with the plan focused on having the expanded facility
fully planted in eight weeks.
“Verdélite is now fully built and licensed
across all its growing and processing areas, and I congratulate the
team for this accomplishment,” said Thierry Schmidt, President of
Verdélite. “As we expand production of Emerald Health Therapeutics
products sold under the Emerald sales license, this step enables us
to also continue advancing our marketing strategy encompassing
Verdélite brands and direct sales to provincial/territorial
wholesalers and authorized Canadian private retailers.”
“This new license amendment allows Verdélite to
transition into its full commercial phase and positions Verdélite
as a key growth contributor to Emerald's financial results in
2020,” said Riaz Bandali, Chief Executive Officer of Emerald. “With
this extended, controlled indoor growing space and Verdélite’s
unique cannabis strains, we aim to bring distinct and unique
consumer-driven products to the Quebec market.”
Verdélite is a vertically integrated
seed-to-sale indoor operation optimized for year-round production
of high-quality craft cannabis through its highly controlled
environment. Its established packaging and processing line are well
equipped to manage significant volume and a wide diversity of
value-added products.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. is a Canadian
licensed producer of cannabis products focused on differentiated,
value-added product development for medical and adult-use customers
supported by novel intellectual property, large-scale cultivation,
extraction, and softgel encapsulation, as well as unique marketing
and distribution channels. Its 50%-owned Pure Sunfarms operation in
British Columbia has reached its full run-rate annual production of
approximately 75,000 kg at its first 1.1 million square foot
greenhouse operation, Delta 3. Pure Sunfarm’s second 1.1 million
square foot greenhouse, Delta 2, is planned to be in full
production by the end of 2020. Emerald’s Verdélite subsidiary is a
high-quality indoor growing and processing facility in Québec
focused on premium, craft cannabis strains. Its Metro Vancouver
organic greenhouse and outdoor operation is completing construction
and working towards its final licensing extension. Emerald has
contracted for approximately 1,000 acres of hemp annually in 2019
to 2022 with the objective of extracting low-cost CBD. The
executive team is highly experienced in life sciences, product
development, large-scale agri-business, and marketing.
Please visit www.emeraldhealth.ca for more information or
contact: Rob Hill, Chief Financial Officer (800) 757 3536 Ext. #
5
Emerald 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 obtaining required regulatory approvals; production and
processing capacity of various facilities; expansion of facilities;
obtaining additional cultivation licenses and other permits;
production at various facilities; receipt of hemp deliveries;
entering into of strategic agreements; payments of amounts owed to
and owed by Emerald; transplanting crops; obtaining final municipal
approvals; assessment of cultivation and harvesting techniques;
scale up of reliable, quality low-cost cannabis; 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, changes of law and regulations; changes of
government; failure to obtain regulatory approvals or permits;
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; failure of counter-parties to perform
contractual obligations; 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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