Emerald Health’s Two Cannabis Production Expansion Sites Progressing for Legalized Adult-Use Market in 2018
Ryan Allway
October 18th, 2017
News, Top News
VICTORIA, British Columbia, Oct. 18, 2017 (GLOBE NEWSWIRE) — Emerald Health Therapeutics Inc. (“EHT”) (EMH.V) (EMHTF), through Emerald Health Botanicals Inc. (“Emerald”), its wholly owned subsidiary and a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”), has submitted license applications to Health Canada for approval of two new growing sites. Emerald is preparing for the large-scale production of cannabis in anticipation of legalization of the adult-use cannabis market on July 1, 2018.
In September, Emerald filed an application to Health Canada for its Pure Sunfarms’ Delta, BC facility, which is a partnership with Village Farms (TSXV:VFF). This partnership combines Emerald’s extensive medical cannabis growing experience and broad portfolio of cannabis genetics with Village Farms’ many decades of greenhouse growing expertise and large-scale, quality, low-cost production of an array of plant products and a currently producing, highly efficient 25-acre, 1.1 million square feet greenhouse facility. Emerald and Village Farms are retrofitting this greenhouse from tomato growing into a configuration optimized for large-scale cannabis cultivation. With a key goal of the partnership to be a large, very low-cost cannabis producer, Pure Sunfarms also optioned from Village Farms an additional 3.7 million square feet of existing highly-efficient greenhouse space in the same Delta complex.
In October, Emerald submitted its application for its own Richmond, BC, facility, for which Emerald is initially constructing 150,000 square feet of hybrid indoor and greenhouse growing space to produce cannabis in conjunction with legalized recreational use. This 32-acre site can be expanded to 1 million square feet. This facility will also house extraction and other processing capabilities as Emerald pursues value-added downstream product development.
In early October, Health Canada granted approval of Emerald’s second site application related to its Saanich facility, which is currently producing medical cannabis for sale as dried flower and oils, and serves as Emerald’s research and product development facility. This additional 7,000 square feet site, which is adjacent to the existing site, will allow expansion of this operation, subject to receiving the necessary approvals from the District of Saanich.
“As a licensed producer that is currently operating exclusively in Canada, submitting these license applications to Health Canada is a vital step as we execute our expansion plans,” said Chris Wagner, Chief Executive Officer of EHT. “We have appreciated our working relationship with Health Canada, which has already allowed us to secure a second site license, and look forward to working with them through their review of these additional applications.”
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About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (EMH.V) (EMHTF) operates through Emerald Health Botanicals Inc. (“Botanicals”), a wholly owned subsidiary and Licensed Producer under the Access to Cannabis for Medical Purposes Regulations. Botanicals is authorized to produce and sell both dried medical cannabis flower and medical cannabis oil in Canada. Botanicals currently operates an indoor facility in Victoria, BC, and is progressing on expansion plans for a 32-acre property in Metro Vancouver and a partnership with Village Farms, called Pure Sunfarms, utilizing a 25-acre existing greenhouse complex in Delta, BC. Botanicals is one of Canada’s most medically focused licensed producers, with a team highly experienced in life sciences product development and large-scale agribusiness. Its vision is to be a leading provider of cannabis products through its production capabilities, proprietary genetics, value-added products and branding, and superb customer experience. Emerald Health Therapeutics is associated with the Emerald Health group, which comprises multiple companies advancing diverse botanical, nutraceutical and pharmaceutical products that may provide wellness and medical benefits by interacting with the body’s endocannabinoid system.
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.
We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to legalization of non-therapeutic cannabis sales in Canada; participation in the legalized non-therapeutic cannabis industry; growth in the extract-based market; increased production of cannabis; commercial operations; construction or conversion of production facilities; applications for licensing; obtaining such licenses; commencement of production of cannabis at the Company’s facilities; estimates of production capacity at such facilities; contributions of cash to the JV; international opportunities for the Company; commencement of clinical trials; the Company becoming a leading Canadian supplier of cannabis products; expected timing of any of the above matters; and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure of the federal government to approve legislation legalizing sales of non-therapeutic adult-use cannabis; failure to obtain Health Canada and other regulatory approvals; failure to obtain necessary financing; results of production and sale activities; the Company’s historical experience with medical marijuana operations; results of scientific research; uninsured risks; regulatory changes; difficulties in construction or in obtaining qualified contractors to complete construction or conversion of facilities; availability of production facilities; timeliness of government approvals and the granting of permits and licenses; changes in prices and costs; actual operating and financial performance of facilities; equipment and processes relative to specifications and expectations; as well as the other risk factors set out in the Company’s annual information form and other filing with the applicable Canadian securities regulators, which may be viewed at www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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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