01:25:09 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 78,179,698
Close 2017-04-20 C$ 1.44
Market Cap C$ 112,578,765
Recent Sedar Documents

Emerald Health receives $2.75-million from greenshoe

2017-04-21 15:04 ET - News Release

Mr. Sandy Pratt reports

EMERALD ANNOUNCES PARTIAL EXERCISE OF OVER-ALLOTMENT OPTION IN CONNECTION WITH RECENT $24.4 MILLION BOUGHT-DEAL

Emerald Health Therapeutics Inc. has closed the issuance of an additional 1,465,100 common shares and 987,750 common share purchase warrants for gross proceeds of $2,758,923. Each warrant entitles the holder thereof to acquire one share at a price of $2.60 per share until April 20, 2019. In the event that the closing price of the shares on the TSX Venture Exchange, or such other principal Canadian stock exchange on which the shares are then listed, is greater than $3.50 per share for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof, and in such case, the warrants will expire on the 30th day after such notice is given.

The overallotment offering was completed pursuant to the exercise in part of an overallotment option granted by the company to Eight Capital in connection with the company's bought deal offering of 13.17 million units for gross proceeds of $24.4-million, which closed on April 20, 2017. Each unit consists of one share and one-half of one warrant.

Emerald issued to the underwriter a total of 43,953 compensation options in connection with the overallotment offering. Each such compensation option entitles the holder to acquire a unit at a price of $1.85 per unit until April 20, 2019.

The company intends to use the net proceeds of the exercise of the overallotment offering for general corporate purposes.

The units were offered by way of a base shelf prospectus and a shelf prospectus supplement filed in all of the provinces of Canada, except Quebec.

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics operates primarily through Emerald Health Botanicals Inc., a wholly owned subsidiary of the company and a licensed producer under the access to cannabis for medical purposes regulations (ACMPR). Botanicals is authorized to cultivate and sell both dried medical cannabis flowers and medical cannabis oils in Canada. Botanicals currently operates an indoor cultivation facility in Victoria, B.C., and plans to construct a much larger purpose-built hybrid greenhouse facility on 32 acres in metro Vancouver.

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