Emerald Health Therapeutics Announces Secondary Offering
January 15 2019 - 7:00AM
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Emerald Health Therapeutics, Inc. (TSXV:EMH) (“Emerald” or the
“Company”) today announced that Emerald Health Sciences Inc. (the
“Selling Shareholder”) has entered into a share purchase agreement
(the “Share Purchase Agreement”) with a single Canadian
institutional accredited investor (the “Investor”) in connection
with a secondary offering (the “Secondary Offering”) of common
shares of the Company. Pursuant to the Share Purchase Agreement,
the Investor will purchase 2,800,000 common shares of the Company
(the “Secondary Shares”) from the Selling Shareholder at a price of
$2.50 per Secondary Share.
The Selling Shareholder will receive all of the
net proceeds from the Secondary Offering. No securities are being
sold by the Company.
In connection with the Secondary Offering, the
Company has agreed to file a shelf prospectus supplement qualifying
the Secondary Shares for distribution in each of the provinces of
Canada, except Quebec, in accordance with National Instrument
44-101 Short Form Prospectus Distributions and National Instrument
44-102 Shelf Distributions.
The closing date of the Secondary Offering is
expected to be on or about January 16, 2019, and is subject to
customary closing conditions.
This press release will not constitute an offer
to sell or the solicitation of an offer to buy nor will there be
any sale of the securities in any jurisdiction in which such offer,
solicitation, or sale would be unlawful. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of the
United States Securities Act of 1933, as amended, and applicable
state securities laws.
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 Verdélite (previously called Agro-Biotech)
operation in Québec is completing its 75,000 square feet indoor
facility. Commercial production is expanding in both facilities. In
addition, Emerald 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 www.emeraldhealth.ca for more
information or contact:
Rob Hill, Chief Financial Officer(800) 757 3536
Ext. #5
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 statements relating to the filing and effectiveness of the
prospectus supplement; the anticipated closing date of the
Secondary Offering; production capacity of various facilities;
expansion of facilities; increased commercial production;
anticipated production costs; implementation of future business
plans; and receipt of hemp deliveries.
Actual results may vary from forward-looking
statements. 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 meet the conditions of closing of the Secondary
Offering; filing of the shelf prospectus supplement; uncertainty
with respect to the completion of the Secondary Offering; 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; future distribution agreements; failure of
counterparties 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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