Northern Vine Labs Expands Dealer’s License with Health Canada
December 15th, 2017
News, Top News
VICTORIA, B.C., Dec. 15, 2017 (GLOBE NEWSWIRE) — Northern Vine Labs (“Company”), a subsidiary of Emerald Health Therapeutics Inc. (“Emerald”) (EMH.V) (EMHTF) and Abattis Bioceuticals Corp. (“Abattis”) (CSE:ATT) (ATTBF), today announced that Health Canada has approved an amendment to the Company’s dealer’s license.
The license amendment provides the Company the ability to transport, deliver and sell product to other Licensed Dealers (LD), authorized persons under the Controlled Drug and Substance Act (CDSA), and Licensed Producers (LP). Along with the Company’s already authorized activities for analytical testing, extraction, and import/export, this amendment also allows Northern Vine Labs to broaden its business opportunities through the production and sale of downstream cannabis products.
“This amendment helps expand the business potential of our dealer’s license,” said Avtar Dhillon, MD, Executive Chairman of Emerald. “With the new Proposed Approach to the Regulation of Cannabis released by the Government of Canada, we believe Northern Vine Labs is in a unique position to become a leader in the analytical, international processing, and R&D segments of the cannabis market.”
Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act. An LD is permitted to carry out certain business activities that Emerald is not permitted to undertake as an LP under Access to Cannabis for Medical Purpose Regulations (“CMPR), including the import/export of cannabis and cannabis oils, as well as the manipulation, formulation, dosage form, strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances. These opportunities expand possible research and product innovation opportunities for Emerald.
Emerald acquired 53% of Northern Vine from Abattis in November, 2017.
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 Canada’s Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms, a partnership with Village Farms that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information.
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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 expansion of Emerald’s business; creation of strategic development opportunities; commercial operations; construction or conversion of production facilities; international opportunities for the Company; 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 to obtain regulatory approval for closing of the proposed transaction or to meet the conditions set out in the Agreement; 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 filings 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.
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