Emerald Health Therapeutics Fulfilling Supply Commitments with Provincial Adult-Use Cannabis Shipments
Ryan Allway
November 7th, 2018
News
VICTORIA, British Columbia, Nov. 07, 2018 (GLOBE NEWSWIRE) — Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV:EMH; OTCQX:EMHTF) has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the Company as it significantly ramps up production and sourcing of cannabis and cannabinoid products. Emerald products have been available in these provinces since October 31st.
“It has always been important to us to ensure we fulfill the supply commitments we made to our provincial cannabis distribution customers. We are pleased that our initial deliveries have met this obligation and that we have the ability to provide consistent and increasing contracted shipments of Emerald products,” said Paul Dillman, Emerald’s Executive VP, Global Sales & Marketing. “With proprietary market research, differentiated products based on unique plant genetics, a recognizable, trusted brand, significant marketing expertise and bandwidth, and a growing sales team across Canada, we are aiming for a significant ramp-up in sales every quarter from these initial deliveries forward.”
“Emerald aims to assure its customers a secure supply of an array of products by establishing significant, diverse sources of indoor, greenhouse, and outdoor-grown cannabis and cannabinoid products. We have a strong and building foundation to achieve this goal,” said Chris Wagner, CEO at Emerald. “Our products are now available in stores and online in BC as well as Newfoundland and Labrador. Emerald is in negotiations with cannabis distribution authorities in several provinces as we continue to scale our production and sourcing efforts.”
About Emerald Health Therapeutics, Inc.
Emerald Health Therapeutics, Inc. (TSXV: EMH; OTCQX: EMHTF; Frankfurt: TBD) is a Canadian licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint venture in BC is completing a sophisticated 1.1 million square feet greenhouse; its Agro-Biotech operation in Québec is completing a 75,000 square feet indoor facility. Portions of both facilities are in commercial production. It has also contracted for approximately 500 acres of hemp harvest in 2018 and 1000 acres in 2019 to 2022 with the goal of extracting low-cost 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 is broadly focused on developing pharmaceutical, botanical, and nutraceutical products that may 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
Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
invest@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 ramping up production and sourcing of cannabis and cannabinoid products; future deliveries of Emerald products; availability of Emerald products in other provinces; production capacity of various facilities; expansion of facilities; anticipated production costs; 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 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; 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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About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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