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Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 136,997,693
Close 2018-12-07 C$ 2.77
Market Cap C$ 379,483,610
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Emerald Health JV expands production are to 687K sq ft

2018-12-10 07:55 ET - News Release

Mr. Rob Hill reports

EMERALD HEALTH SEES LICENSE EXPANSION OF PURE SUNFARMS CANNABIS PRODUCTION OPERATION TO 687,000 SQUARE FEET, ONE OF LARGEST PRODUCTION CAPACITIES IN CANADA

Emerald Health Therapeutics Inc.'s 50-per-cent-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received from Health Canada the fifth amendment to its cultivation licence for its 1.1-million-square-foot greenhouse in Delta, B.C. With an added approximately 137,000 square feet (half of quadrant 3), the total licensed cannabis production area is approximately 687,000 square feet. The newly licensed area is expected to be fully planted by the end of this week.

"Pure Sunfarms is already one of the largest licensed cannabis production facilities in the industry, and we expect completion of the conversion in Q1," said Dr. Avtar Dhillon, executive chairman and president of Emerald. "With deep cannabis and large-scale greenhouse-growing expertise, established operational systems, and multiple cannabis strains being grown, Pure Sunfarms is achieving industry-leading quality and yields in line with our expectations. We expect this facility to be in full production in the first half of 2019, and aim for it to be one of the best cannabis production operations in the industry.

"Pure Sunfarms has delivered to Emerald contracted cannabis shipments that we are selling under the Emerald brand. It is also selling to other LPs, with favourable spot market pricing, as it awaits its packaging sales licence to commence direct sales to provincial distributors. Pure Sunfarms continues to implement its plan to be a vertically integrated cannabis producer and marketer."

Pure Sunfarms has completed conversion of the remainder of quadrant 3 and is awaiting Health Canada approval for this additional approximately 138,000 square feet of production area. Pure Sunfarms expects to complete conversion of Quadrant 4 (approximately 275,000 square feet) by year-end and anticipates Health Canada approval of that additional area by the end of January, 2019. At a total licensed area of 1.1 million square feet, Pure Sunfarms' Delta greenhouse will be one of the single largest cannabis growing facilities in the world.

All supplemental lighting is operational in quadrants 2 and 3, and is expected to be operational in quadrant 4 upon start of production, supporting maximum yields during the lower-daylight winter months. Supplemental lighting will be installed in quadrant 1, which was completed as per plan earlier this year without supplemental lighting in order to permit immediate production during the summer months when supplemental lighting is not required. Quadrant 1 is expected to resume production by the end of February, 2019.

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 16 grow rooms (11 now licensed) optimized for year-round harvesting with more than 80 harvests annually.

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 the conversion of its 1.1-million-square-foot (25 acre) greenhouse for cannabis cultivation in the Lower Mainland and its Agro-Biotech operation in Quebec is completing its 75,000-square-foot indoor facility. Commercial production is expanding in both facilities.

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