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Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 142,419,646
Close 2019-02-19 C$ 3.37
Market Cap C$ 479,954,207
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Emerald Health creates Verdelite Sciences unit

2019-02-20 07:39 ET - News Release

Mr. Rob Hill reports

EMERALD HEALTH THERAPEUTICS LAUNCHES 88,000 SQUARE FOOT STATE-OF-THE-ART, FULLY-INTEGRATED INDOOR FACILITY AND VERDELITE BRAND IN QUEBEC

Emerald Health Therapeutics Inc. has launched Verdelite Sciences Inc., a wholly owned, Quebec-based production subsidiary licensed by Health Canada. Formerly known as Agro-Biotech, Verdelite currently produces high-grade dried cannabis for medical and adult-use purposes.

Emerald is nearing completion of its over $100-million investment to secure and expand its multipurpose facility to 88,000 square feet and enable the complete cycle of indoor cultivation, product development and automated packaging of cannabis products. Upon reaching full production levels in mid-2019, Verdelite projects it will have created approximately 140 jobs.

"This investment will enable us to produce quality cannabis products adhering to our high growing and processing standards," said Thierry Schmidt, president of Verdelite Sciences. "Verdelite will be synonymous with differentiated and value-added cannabis products, and we are pleased to see the level of industry skill and enthusiasm coming from the Saint-Eustache community and the local interest and support to help contribute to our success."

In addition to 23 state-of-the-art growing rooms, the facility will include an analytical testing laboratory as well as a research centre for product innovation and extraction technology. These capabilities will also position Verdelite to competitively participate in the development and production of edible cannabis products, which are expected to be sanctioned by Health Canada by Oct. 17, 2019.

"We're delighted to see our Quebec-based Saint-Eustache facility coming on line and adding to our capability to deliver high-quality adult-use and medical cannabis products," said Dr. Avtar Dhillon, president and executive chairman of Emerald. "The Verdelite team has been working tirelessly to bring to fruition one of the core assets in Emerald's national and international development strategy."

Emerald acquired Verdelite in May, 2018, with an operating footprint of 25,000 square feet. The full 88,000-square-foot facility is expected to be operational in Q2 2019, with approximately 50,000 square feet of cannabis flowering capacity in precision-controlled environments. Verdelite possesses approximately 200 strains of cannabis.

By the numbers

  • 140 estimated full-time jobs in Saint-Eustache once fully operational;
  • 88,000-square-foot purpose-built cannabis production facility;
  • 23 independent growing rooms;
  • 200 cannabis strains;
  • 12 processing and packaging rooms.

About Verdelite Sciences Inc.

Verdelite, a wholly owned subsidiary of Emerald Health Therapeutics, is a Health Canada-licensed cannabis cultivation facility located in Saint-Eustache, 30 kilometres north of Montreal, Que. This facility, purpose-built to produce, process and package cannabis products, is nearing completion of an expansion to 88,000 square feet. The facility has abundant access to high-quality low-cost water and electricity.

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 acres) greenhouse for cannabis cultivation in the Lower Mainland and its Verdelite operation in Quebec is completing the buildout of its 88,000-square-foot indoor cultivation facility. Commercial production is expanding in both facilities. Emerald secured over 500 acres of hemp harvest in 2018 and has contracted for approximately 1,000 acres from 2019 to 2022 with the objective of extracting low-cost cannabidiol (CBD).

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