Emerald Health Therapeutics’ Québec Premium Cannabis Operation Receives Sale License Amendment, Allowing Direct Sales of B...
16 Outubro 2019 - 8:00AM
Emerald Health Therapeutics’ (“Emerald”)(TSXV: EMH; OTCQX: EMHTF)
wholly-owned production facility, Verdélite, in St. Eustache,
Québec, has received from Health Canada its license amendment
permitting it to sell and distribute packaged, branded dried
cannabis products directly to provincial/territorial wholesalers
and authorized private retailers in accordance with
provincial/territorial frameworks in Canada. To date, Verdélite has
been packaging product under the Emerald brand. Moving forward, its
marketing strategy will evolve and focus on building multiple
differentiated brands, with a unique Quebec identity, targeting
consumers seeking premium cannabis for adult use as well as health
and wellness benefits.
“There is no brand we’re aware of that has been
crafted to serve the Quebecois community. With this license,
Verdélite will transition into its commercial phase where it
cultivates unique cannabis strains grown in Québec and brands
designed to build a dedicated relationship with Quebec cannabis
customers,” said Thierry Schmidt, President of Verdélite.
“Verdélite was built to bring to the market premium craft cannabis
products particularly for Québec consumers, but which, much as with
other consumer product categories, also hold appeal outside Québec.
We believe this is a significant market opportunity that we can
strongly serve with the type of products and brands that Verdélite
will roll out in the next months.”
“The premium cannabis consumer market segment
that we are targeting to serve in Québec with our distinctive
cannabis strains perfectly matches our expertise in production and
highly-controlled environment in our indoor facility,” said Riaz
Bandali, Chief Executive Officer of Emerald. “Québec is the
Canadian province with the second largest population and the
exclusive provincial distributor, the Société Québécoise du
Cannabis (SQDC), sold 27 million grams of cannabis since
legalization and plans to double the number of Québec outlets
during the next six months. We look forward to serving this
important Canadian marketplace and this distinctive customer
base.”
Just last week, Verdélite’s indoor facility
received its amendment to its original license allowing cultivation
in the 50,000 square foot growing and processing area of its 88,000
square foot indoor facility, allowing it to expand production from
4 to 21 highly-controlled-environment grow rooms and 16 processing
rooms. The newly licensed area is expected to be fully planted in
eight weeks. Moreover, Verdélite’s established packaging and
processing line are well equipped to manage the desired production
volume and a wide diversity of value-added products.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. is a Canadian
licensed producer of cannabis products, with targeted strategic
initiatives and assets 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; its second 1.1 million square foot
greenhouse, Delta 2 operation, is planned to be in full production
by the end of 2020. Emerald’s two wholly-owned facilities, a
high-quality indoor growing and processing facility in Québec and
an organic greenhouse and outdoor operation in British Columbia,
are transitioning into production. Emerald has also contracted for
approximately 1,000 acres of hemp annually in 2019 to 2022 with the
objective of extracting low-cost CBD. The executive 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 licenses and other permits;
production at various facilities; receipt of hemp deliveries;
entering into of strategic agreements; payments of amounts owed to
and owed by Emerald; transplanting crops; obtaining final municipal
approvals; assessment of cultivation and harvesting techniques;
scale up of reliable, quality low-cost cannabis; 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 or permits;
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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