Emerald Health Therapeutics’ Joint Venture Achieves Its Full Annualized Production Run-Rate
11 Julho 2019 - 8:00AM
Emerald Health Therapeutics, Inc.’s (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) 50%-owned joint venture for large-scale, low-cost,
high-quality cannabis production, Pure Sunfarms, has achieved its
full production run-rate of 75,000 kilograms of dried cannabis at
its 1.1 million square foot Delta 3 greenhouse in Delta, British
Columbia.
“Pure Sunfarms’ growing operation is setting the
standard for large-scale low cost high quality cannabis production,
which we believe serves as a strong indication of what the combined
expertise of Emerald and Village Farms can accomplish,” said Dr.
Avtar Dhillon, Executive Chairman and President of Emerald. “As
quality, yield and cost of production of Pure Sunfarms continue to
exceed our initial goals, we are building a tremendously valuable
asset in the Pure Sunfarms operation and achieving a significant
contribution to Emerald’s growth strategy.”
Pure Sunfarms has been profitable for in its
initial two quarters, with its gross margins benefiting from
the start of its packaged product sales to the Ontario Cannabis
Store and other retailers following the anticipated near-term
approval by Health Canada for Pure Sunfarms to sell directly to
provincial/territorial and private retailers. Pure Sunfarms is also
progressing on in-house extraction capabilities, which it expects
to be operational this year.
Pure Sunfarms has commenced conversion of its
second 1.1 million square foot (25 acre) greenhouse operation,
Delta 2, for cannabis production, which will double Pure Sunfarms’
annual output at full production to 150,000 kilograms. Pure
Sunfarms expects to complete its first harvest at the Delta 2
facility by mid-2020, ramp to an annualize full production run-rate
by the fourth quarter of 2020, and operate at full production of
75,000 throughout 2021.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. is a Canadian
licensed producer of cannabis products, with strategic initiatives
focused on differentiated, value-added product development for
medical and adult-use customers supported by novel intellectual
property, large-scale cultivation, extraction, and softgel
encapsulation, as well as unique marketing and distribution
channels. Its 50%-owned Pure Sunfarms operation in British Columbia
has reached its full run-rate annual production of
approximately 75,000 kg in its first 1.1 million square foot
greenhouse Delta 3 operation; a second 1.1 million square foot
greenhouse is planned to be in full production by the end of 2020.
Emerald’s two other wholly-owned facilities in Québec, a
high-quality indoor growing and processing facility, and British
Columbia, an organic greenhouse and outdoor operation, are
completing construction and are working toward final permitting.
Emerald has also contracted for approximately 1,200 acres of hemp
annually in 2019 to 2022 with the objective of extracting low-cost
CBD. Its team is highly experienced in life sciences, product
development, large-scale agri-business, and marketing.
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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