Emerald Health Therapeutics Commends Government of Ontario for Expanding Retail Cannabis Store Licences in Canada’s Largest...
03 Julho 2019 - 11:32AM
Emerald Health Therapeutics, Inc. (“Emerald” or “the Company”)
(TSXV: EMH; OTCQX: EMHTF) commends the Government of Ontario for
its newly announced plans to expand the province’s brick-and-mortar
retail sales network for adult-use cannabis. Emerald believes that
this initiative will position the industry and the Company for
significant sales growth in Canada’s largest province.
“After the first 25 stores began to open in
Ontario, the industry saw overall sales of cannabis basically
double,” said Dr. Avtar Dhillon, Executive Chairman and President
of Emerald. “Adult-use consumers are showing a preference for going
into a physical location where they can interact with educated,
savvy budtenders1 and we anticipate that the further expansion of
physical stores in Ontario and Canada will strongly serve the
growth of legal cannabis sales.”
In conjunction with Ontario’s retail expansion
and in response to the Ontario Cannabis Store’s (OCS) most recent
product call, Emerald has submitted its high-THC Island Honey,
Critical Kali Mist and White Rhino premium strains of dried flower
as well as its whole flower high-CBD Sync 25 oil.
These Emerald products would further diversify Ontario shoppers’
available product choices.
“I am proud of the new strains and oils we’re
planning to offer in Ontario,” said Traviss Graham, Vice President,
Production and Emerald’s Master Grower. “We have put a lot of time,
effort and care into making sure that these differentiated new
strains and oils will stand out in the marketplace as some of the
very best available.”
In Quebec, Prince Edward Island, Alberta, Nova
Scotia and New Brunswick, the majority of cannabis sales are
primarily through retail stores as opposed to online sales.
Currently there are approximately 300 legal cannabis stores in
Canada. According to AltaCorp, based on analysis from Colorado,
Ontario would require an additional 1,400 physical stores and the
rest of Canada would need to add 2,000 legal locations in order to
meet market demand.2
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 and fully planted in 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.
Emerald’s Verdélite operation in Saint Eustache, Québec is
completing the build-out of its 88,000 square foot indoor
cultivation facility and is scaling up production. Emerald has
contracted for approximately 1,200 acres of hemp annually 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 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
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 construction and licensing of facilities; market demand;
production and processing capacity of various facilities; expansion
of facilities; receipt of municipal permits and regulatory
approvals; sale of products; 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; construction costs; 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.
1
https://globalnews.ca/news/5424432/ontario-cannabis-sales-stores-open/
2
https://www.theglobeandmail.com/cannabis/article-mapping-canadas-cannabis-stores-from-dense-supply-to-zero-footprint/
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