12:08:30 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 105,572,933
Close 2018-01-02 C$ 6.55
Market Cap C$ 691,502,711
Recent Sedar Documents

Emerald Health arranges $15M financing

2018-01-03 08:15 ET - News Release

An anonymous director reports

EMERALD HEALTH ANNOUNCES $15 MILLION PROSPECTUS SALE; CONCURRENT SECONDARY SALE

Emerald Health Therapeutics Inc. has entered into a binding term sheet with a single Canadian institutional accredited investor under which the investor has agreed, subject to certain customary conditions, to purchase three million units of the company at a price of $5 per unit for total gross proceeds of $15-million. The securities forming the units will be qualified under a shelf prospectus supplement to be filed by Emerald prior to closing.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the investor to acquire one common share of the company at a price of $6 per warrant share for a period of 36 months following the closing of the offering. In the event that the closing sale price of the company's common shares on the TSX Venture Exchange is greater than $8 per common share for a period of 10 consecutive trading days at any time after the closing of the offering, the company may accelerate the expiry date of the warrants by giving notice to the investor and in such case the warrants will expire on the 30th day after the date on which such notice is given by the company.

The investor has also agreed to purchase from Emerald Health Sciences Inc., a control person of the company, two million common shares held by Sciences at a price of $5 per share. The secondary sale will close concurrently with the closing of the offering.

The company intends to use the net proceeds of the offering for its production and research-and-development-related growth plans, working capital, and general corporate purposes.

The units will be offered by way of a shelf prospectus supplement to be filed in all of the provinces of Canada, except Quebec, pursuant to National Instrument 44-101 -- Short-Form Prospectus Distributions. The secondary sale will be completed pursuant to a Form 45-102F1 Notice of Intention to Distribute Securities under Section 2.8 of NI 45-102 Resale of Securities filed by Sciences today.

The closing date of the offering and the secondary sale is expected to be on or about Jan. 10, 2018, and is subject to certain conditions including, but not limited to, the investor being satisfied with the results of its due diligence, no material adverse change and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics operates through Emerald Health Botanicals Inc., a wholly owned subsidiary and licensed producer under Canada's Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, B.C., and is building a 500,000-square-foot greenhouse on 32 acres in Metro Vancouver, with expansion potential to one million square feet to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50 per cent of Pure Sunfarms, a partnership with Village Farms that is converting an existing 1.1-million-square-foot greenhouse in Delta, B.C., from growing tomatoes to growing cannabis.

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