Emerald Health Therapeutics’ New Organic Cannabis Operation Receives Cultivation License for Outdoor Grow Area
15 Julho 2019 - 8:00AM
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) has received its cultivation license from Health Canada for
the 12-acre outdoor grow area at its new organic cannabis operation
in Metro Vancouver, BC. The outdoor grow area is expected to be
capable of producing approximately 10,000 kg of cannabis annually
with multiple crops during a full growing season. With this license
effective as of July 12, 2019, Emerald is positioned to deliver one
harvest and a portion of the expected full production volume this
year.
The 12 acres (~500,000 square feet) of outdoor
cultivation are part of an overall 20-acre site that includes
156,000 sq. ft. in two greenhouses. This operation was purposefully
designed for organic cultivation with the goal of exceeding 20,000
kg of annual production. There is also the prospect of securing and
licensing an additional adjacent 12 acres of outdoor grow area,
with potential for an additional approximately 10,000 kg of annual
production.
“As one of the few licensed producers licensed
for outdoor growing, receiving this cultivation license highlights
our planning and execution to achieve potentially very-low cost
organic cannabis. We have been working for months on ground and
seed preparation and are now preparing for planting,” said Dr.
Avtar Dhillon, Executive Chairman and President of Emerald. “With
our team’s extensive organic farming experience and expertise, we
look forward to assessing multiple cannabis strains and refining
cultivation practices for scalable outdoor growing.”
With the organic operation’s first greenhouse
ready for cultivation and the second greenhouse near completion,
Emerald will continue to apply for license amendments to expand its
licensed cultivation areas. Emerald is also working to complete the
requirements for municipal permitting.
Separately, Health Canada also approved
Emerald’s amendment application to increase its processing
footprint at one of its two Victoria, British Columbia facilities,
allowing Emerald to expand processing and storage capabilities.
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 in 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; obtaining additional cultivation license;
production at various facilities; 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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