Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) has appointed Riaz Bandali as Chief Executive Officer. Mr.
Bandali has over 25 years of experience in life sciences, with
expertise in global operations, strategy development, innovation
cultivation, M&A, and investment management spanning contract
clinical and research services, analytical instrumentation, lab
services and venture capital. Mr. Bandali most recently served as
President, Early Phase Clinical Services, for Syneos Health, an
international clinical research organization.
“Mr. Bandali has driven the vision, strategy,
innovation and execution of growth plans in a number of life
sciences enterprises. He has managed rapidly growing businesses and
global teams of over 900 people to achieve significant sales growth
and profitability – and he has a meticulous focus on process and
the bottom-line,” said Dr. Avtar Dhillon, Executive Chairman and
President of Emerald. “Emerald has implemented unique
infrastructure and strategic partnerships to form the foundation
for its growth in the emerging global legal cannabis and
cannabinoid market, and Riaz is very well-equipped to lead our team
to leverage and build on our competitive positioning with the goal
of achieving growing, sustainable, and profitable revenue
streams.”
Mr. Bandali previously served as President,
Early Stage Development, inVentiv Health Clinical; SVP, Strategy
and Business Development, AB Sciex and Molecular Devices; Vice
President and General Manager, Global Early Stage Development at
MDS Pharma Services; and Venture Partner and Vice President, MDS
Capital.
Mr. Bandali holds a Master of Business
Administration from McGill University, a Bachelor of Science from
the University of British Columbia and has completed the Advanced
Management Program at the Harvard Business School.
Expansion of Emerald’s
C-suite
Emerald has also appointed Thierry Schmidt as
its Chief Commercial Officer. Mr. Schmidt will oversee all sales,
marketing, and product development for Emerald. He is a marketing,
brand/product management, sales, and business development expert
who brings over twenty years of consumer goods experience, having
worked at L’Oréal, Avon, and British American Tobacco. Mr. Schmidt
will maintain his current position as President of Verdélite,
Emerald’s cannabis cultivation, production and packaging facility
in St. Eustache, Quebec.
“We have committed significant resources to the
construction and launch of our Pure Sunfarms joint venture, which
we believe is a leader among Canadian cannabis greenhouse
operations. We have also substantially completed the build-out of
other strategic operating assets and partnerships and are preparing
to move them into commercialization ramp-up,” said Dr. Dhillon. “As
we advance our product innovation and development initiatives
focused on differentiated, value-added products serving consumers
seeking both recreational and wellness benefits, we are pleased to
have Thierry’s expertise and energy contributing to these important
next steps of our growth plan.”
Avtar Dhillon, MD, will continue in his role as
Executive Chairman and President. Rob Hill and Sean Rathbone will
continue in their respective roles as Chief Financial Officer and
Chief Operating Officer.
The appointments of Messrs. Bandali and Schmidt
are subject to the customary approval of the TSX Venture
Exchange.
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 obtaining required regulatory approvals; 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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