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Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 136,671,444
Close 2018-09-06 C$ 4.39
Market Cap C$ 599,987,639
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Emerald, Village JV can expand production to 550K sqft

2018-09-06 07:14 ET - News Release

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

Mr. Rob Hill of Emerald Health reports

EMERALD HEALTH THERAPEUTICS ANNOUNCES AMENDMENT FROM HEALTH CANADA FOR PURE SUNFARMS CULTIVATION LICENSE, EXPANDING CANNABIS PRODUCTION AREA TO APPROXIMATELY 550,000 SQUARE FEET IN ONE OF THE SINGLE LARGEST CANNABIS GROWING FACILITIES IN THE

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 fourth 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 to 550,000 square feet -- half of the 1.1-million-square-foot Delta 3 production facility. The newly licensed area is expected to be in full production by mid-October of this year.

"It's a remarkable achievement to now have 550,000 square feet -- half of the 1.1-million-square-foot Delta 3 facility -- approved for production just six months since receiving the initial cultivation licence," said Michael DeGiglio, chief executive officer of Village Farms. "I am tremendously proud of the Pure Sunfarms team."

"Pure Sunfarms is making great strides to achieve high-quality, low-cost cannabis production ahead of the Canadian government's legalization of adult-use cannabis on Oct. 17," said Chris Wagner, CEO of Emerald.

In July, Pure Sunfarms received its sales licence from Health Canada, permitting it to sell cannabis produced in the Delta 3 greenhouse facility. 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 (nine 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 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 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. Emerald's team is highly experienced in life sciences, product development, large-scale agribusiness and marketing, and is focused on developing value-added cannabis-based products with potential wellness and medical benefits.

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