Emerald Health Therapeutics Receives Standard Processing License for Verdélite Facility in Quebec
April 08 2019 - 7:00AM
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) today announced that its Québec facility, Verdélite, has
received its Standard Processing License from Health Canada. This
license means that, in addition to Verdélite’s right to cultivate
and sell cannabis flowers, it can now extract, manufacture,
synthesize, test and sell next-generation cannabis products and
will position Verdélite to launch these products in conjunction
with the expected legalization of a broader spectrum of cannabis
products in Canada in October 2019. The license also allows
Verdélite to build and operate a laboratory for research and
development of cannabis-based products.
"The ability to carry out research and
development on cannabis, and to extract cannabinoids and
manufacture next-generation cannabis products are important steps
forward for Verdélite,” said Thierry Schmidt, President of
Verdélite. “This processing license will allow us to develop and
offer a wide-range of high-quality cannabis products, advance
Verdélite and Emerald brands, and to serve recreational and
medicinal consumers in Quebec and throughout Canada.”
This is the third processing license issued to
Emerald by Health Canada.
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 licensed to cultivate in 1.03 million square feet
of the first of its two 1.1 million square foot greenhouses. The
capacity of each greenhouse is estimated to exceed 75,000 kg of
cannabis annually. The initial greenhouse has been scaling up
production over the last four quarters and is expected to be fully
planted in April. Emerald’s Verdélite operation in Québec is
completing the build out of its 88,000 square foot indoor
cultivation facility and is scaling up production. 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 has secured exclusive
strategic partnerships for large scale extraction and softgel
encapsulation, as well as for proprietary technology to enhance
cannabinoid bioavailability. Its 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 aimed at
providing 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
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 production and processing capacity of various facilities;
expansion of facilities; legalization of broader spectrum cannabis
products; sale of such products; construction and operation of a
laboratory; receipt of hemp deliveries; 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; 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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