22:26:05 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 136,997,693
Close 2018-11-30 C$ 3.07
Market Cap C$ 420,582,918
Recent Sedar Documents

Emerald Health arranges $10.8M offering

2018-12-03 08:38 ET - News Release

Mr. Rob Hill reports

EMERALD HEALTH THERAPEUTICS ANNOUNCES $10.8 MILLION PROSPECTUS SALE

Emerald Health Therapeutics Inc. has entered into a binding term sheet with a single Canadian institutional accredited investor under which the lead investor has agreed, subject to certain customary conditions, to purchase four million common shares of the company at a price of $2.70 per common share for gross proceeds of $10.8-million. The offering may be increased by an additional 600,000 common shares for total aggregate gross proceeds of up to $12.42-million.

The company intends to use the net proceeds of the offering to finance the completion of capital projects, research and development, working capital, and general corporate purposes.

The common shares will be qualified under a shelf prospectus supplement to be filed by Emerald in each of the provinces of Canada, except Quebec, prior to closing in accordance with National Instrument 44-101 Short Form Prospectus Distributions and National Instrument 44-102 Shelf Distributions.

The closing date of the offering is expected to be on or about Dec. 7, 2018, and is subject to certain conditions including, but not limited to, the lead investor being satisfied with the results of its due diligence, no material adverse change in the affairs of the company, and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is a Canadian licensed producer of cannabis. Its 50-per-cent-owned Pure Sunfarms joint venture in British Columbia is completing a sophisticated 1.1-million-square-foot greenhouse; its Agro-Biotech operation in Quebec is completing a 75,000-square-foot indoor facility. Commercial production is expanding in both facilities. It secured approximately 500 acres of hemp harvest in 2018 and has contracted for over 500 acres in 2019 to 2022 with the goal of extracting low-cost cannabidiol (CBD).

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