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Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 135,437,506
Close 2018-06-19 C$ 4.08
Market Cap C$ 552,585,024
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Emerald Health cheers passing of pot legalization bill

2018-06-19 19:46 ET - News Release

Mr. Chris Wagner reports

EMERALD HEALTH THERAPEUTICS WELCOMES HISTORIC PASSING OF BILL C-45 TO LEGALIZE ADULT-USE CANNABIS IN CANADA

Emerald Health Therapeutics Inc. applauds the Canadian government's historic passing of Bill C-45 (Cannabis Act) to end Canada's near-century-long prohibition of recreational cannabis and usher in a new era of cannabis regulation.

"Today is a historic moment for Canada with the government's approval of the Cannabis Act, which will provide a new legal framework and establish Canada as a globally recognized leader of cannabis legalization. We are the first G7 country to federally legalize cannabis for medicinal and recreational use. Moving forward, the world will look to Canada when developing their own rules and regulations," said Chris Wagner, chief executive officer at Emerald.

"We support the government's efforts to ensure we keep cannabis out of the hands of children and profits out of the pockets of organized crime. At Emerald, we support the right of patients across Canada to access safe and affordable medical cannabis, and we will continue to advocate for tax-exempt status for medical cannabis. In addition, we support building on this regulatory framework, furthering cannabis research and education, and fostering comprehensive communication in order to allow this industry to mature and consumers to make informed choices."

To conclude, Mr. Wagner stated: "We respect the people who made this day possible: government officials and social advocates who believed in a safer, more well-regulated system for Canadians. We will continue to uphold our commitment to deliver high-quality product to consumers, advance product innovation and expand our production capacity to meet anticipated demand. At Emerald, we envision a valuable cannabis industry that will work in the best interests of Canadians, and we will continue to focus on our goal of enhancing the health and well-being of others through cannabis science and product innovation." With the introduction of legalized recreational cannabis in Canada, Emerald is making great strides toward achieving its goal of large-scale, high-quality, low-cost cannabis production via multiple projects:

  • Currently retrofitting its 50-per-cent-owned, 1.1-million-square-foot greenhouse in Delta, B.C., which has its cultivation licence, and is expected to generate 46,000 to 52,000 kilograms in 2019 and more than 75,000 kg per year when the facility reaches full production;
  • Acquired licensed producer Agro-Biotech, the assets of which include a Health Canada cultivation licence and a 75,000-square-foot, purpose-built facility in Saint-Eustache, Que.; estimated full production capacity is targeted to exceed 10,000 kg per year starting in 2019;
  • Planning to construct a 500,000-square-foot hybrid indoor and greenhouse cannabis growing facility in Metro Vancouver.

Emerald looks forward to participating in the launch, evolution and future success of the Canadian adult-use cannabis market. Emerald is available for comment on the historic passing of Bill C-45.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is a licensed producer under Canada's Access to Cannabis for Medical Purposes Regulations, and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald is preparing to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald owns 50 per cent of Pure Sunfarms, which is converting a licensed existing 1.1-million-square-foot greenhouse in Delta, B.C., and is now in commercial production. It owns Agro-Biotech, a Quebec-based licensed cannabis grower with a 75,000-square-foot indoor facility, and is planning to add a 500,000-square-foot greenhouse in Metro Vancouver.

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