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Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 136,671,444
Close 2018-08-22 C$ 4.30
Market Cap C$ 587,687,209
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Emerald Health, Village Farms JV garners licence change

2018-08-23 07:54 ET - News Release

Also News Release (C-VFF) Village Farms International Inc

Mr. Rob Hill of Emerald Health reports

EMERALD HEALTH THERAPEUTICS ANNOUNCES AMENDMENT TO PURE SUNFARMS CULTIVATION LICENSE, SUBSTANTIALLY EXPANDING CANNABIS PRODUCTION AREA TO APPROXIMATELY 420,000 SQUARE FEET

Emerald Health Therapeutics Inc. and Village Farms International Inc.'s 50/50 joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received from Health Canada its third amendment to the cultivation licence for its Delta 3 greenhouse in Delta, B.C. This amendment permits Pure Sunfarms to expand its cannabis production area by 195,000 square feet to approximately 420,000 square feet of the 1.1-million-square-foot Delta 3 production facility. The newly licensed area will be in commercial production this week, as the Delta 3 nursery has been producing cuttings in anticipation of this expansion.

"We look forward to completing our buildout over the next months," said Chris Wagner, chief executive officer of Emerald. "As Oct. 17 quickly approaches, we are prepared for significant sales growth and leveraging the potential of this large, highly optimized growing facility."

"We are thrilled with the rapid pace at which the Pure Sunfarms team continues to complete conversion of additional production area, as well as the rapid pace at which it has been able to secure amendments to its cultivation licence to steadily expand production," said Michael DeGiglio, chief executive officer of Village Farms. "It's a testament to the value of decades of large-scale operational experience combined with an unwavering approach to doing things the right way."

Pure Sunfarms expects to have the full 1.1-million-square-foot Delta 3 facility, one of the single largest cannabis growing facilities in the world, converted for cannabis production by year-end. The technologically advanced Delta 3 greenhouse design is based on decades of large-scale, low-cost agricultural production experience and extensive cannabis expertise, resulting in a state-of-the-art facility with 17 grow rooms (seven of which are now licensed) optimized for year-round harvesting (more than 85 harvests annually) and an automated process line encompassing harvesting, trimming, drying and packaging.

About Village Farms International Inc.

Village Farms International is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada. With more than 750 years of accumulated master grower experience coupled with advanced proprietary technology and environmentally sustainable growing practices, Village Farms is highly resource efficient. Village Farms produces and distributes fresh, premium-quality produce with consistency 365 days a year to national grocers in the United States and Canada from its large-scale controlled environment agriculture (CEA) greenhouses in British Columbia and Texas, as well as from its partner greenhouses in British Columbia, Ontario and Mexico.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is licensed in Canada to produce and sell dried cannabis and cannabis oil for medical purposes. Emerald is preparing to serve the fully legalized Canadian adult-use cannabis market starting Oct. 17, 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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