07:14:31 EDT Fri 23 Aug 2019
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol C : EMH
Shares Issued 142,645,495
Close 2019-03-11 C$ 3.89
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Emerald Health JV receives 7th amendment to pot licence

2019-03-11 09:43 ET - News Release

Dr. Avtar Dhillon reports

EMERALD HEALTH THERAPEUTICS SEES PURE SUNFARMS LICENSED FOR 1.03 MILLION SQUARE FEET OF CANNABIS CULTIVATION; FULL PLANTING TARGETED FOR END OF APRIL

Emerald Health Therapeutics Inc.'s 50-per-cent-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp., has received from Health Canada a seventh amendment to the cultivation licence for its 1.1-million-square-foot greenhouse in Delta, B.C. The additional 206,000 square feet (approximately) of growing area in the fourth and final quadrant of the greenhouse brings Pure Sunfarms' total licensed cannabis production area to approximately 1.03 million square feet in 16 grow rooms. The newly licensed area is expected to be fully planted by the end of March, 2019.

"Pure Sunfarms is now licensed across all its growing areas and we congratulate their team for this significant accomplishment," commented Dr. Avtar Dhillon, president and executive chairman of Emerald Health Therapeutics. "With Emerald's 50-per-cent stake in one of the largest fully operational cannabis production facilities in the world, we expect to realize significant economic value from Pure Sunfarms. We expect our supply agreement with Pure Sunfarms for 40 per cent of its 2019 production, along with our Quebec and hemp operations, to support strong quarter-to-quarter sales growth this year."

Pure Sunfarms is now replanting quadrant No. 1 of the greenhouse, following the planned suspension of production in that area last fall to begin the process of installing supplemental lighting to maximize yields in the winter months. This project is planned to be completed in Q3, when supplemental lighting will again be required. Pure Sunfarms expects quadrant No. 1 to be fully replanted by the end of April, 2019, at which time Pure Sunfarms will be in production in the entire 1.03 million square feet of cultivation space.

Last week, Pure Sunfarms announced a wholesale supply agreement with Canna Farms Ltd., which will offer a select variety of Pure Sunfarms-branded, high-quality dried flower products to Canna Farms' medical clients for retail purchase. This initiative is intended to help expand the marketing and sales reach of Pure Sunfarms-branded products.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is a Canadian licensed producer of cannabis. Emerald Health Therapeutics' 50-per-cent-owned Pure Sunfarms joint venture in Delta, B.C., has a 1.1-million-square-foot (25-acre) greenhouse with 1.03 million square feet of licensed cannabis cultivation space. Emerald Health Therapeutics' Verdelite operation in Quebec is completing the buildout of its 88,000-square-foot indoor cultivation facility. Commercial production is expanding in both facilities. Emerald secured over 500 acres of hemp harvest in 2018 and has contracted for approximately 1,000 acres from 2019 to 2022 with the objective of extracting low-cost cannabidiol.

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