09:38:59 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 142,761,047
Close 2019-03-28 C$ 3.93
Market Cap C$ 561,050,915
Recent Sedar Documents

Emerald Health launches at-the-market equity program

2019-03-28 13:37 ET - News Release

Mr. Rob Hill reports

EMERALD HEALTH THERAPEUTICS ANNOUNCES AT-THE-MARKET EQUITY PROGRAM

Emerald Health Therapeutics Inc. has established an at-the-market equity program, which allows the company to issue common shares from treasury having an aggregate gross sales price of up to $39-million to the public from time to time, at the company's discretion, at the prevailing market price when issued on the TSX Venture Exchange or on any other marketplace for the common shares in Canada. The ATM program is effective until the earlier of April 13, 2021, or the completion of the sale of the maximum amount of shares thereunder, and will be activated from time to time, at the company's discretion, if and when required, based on the company's working capital requirements, capital expenditures and relative cost of other financing options.

Sales of the common shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated as of the date hereof with GMP Securities LP.

Sales of common shares will be made through "at-the-market distributions," as defined in National Instrument 44-102 -- Shelf Distributions, on the TSX-V or on any other existing marketplace for the common shares in Canada. The common shares will be distributed at the prevailing market prices at the time of the sale and, as a result, prices may vary among purchasers. The ATM offering is being made pursuant to a prospectus supplement dated March 27, 2019, to the company's short form base shelf prospectus dated March 13, 2019.

The company expects to use the net proceeds of the ATM program, if any, to finance a portion of the costs for the completion of its capital projects, for research and development, working capital and general corporate purposes.

The prospectus supplement (together with the related base shelf prospectus) is available under the company's profile at the SEDAR website, which is maintained by the Canadian Securities Administrators.

The company has applied for conditional approval from the TSX-V for the listing of the common shares to be offered under the ATM program.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is a Canadian licensed producer of cannabis. Emerald Health Therapeutics' 50-per-cent-owned Pure Sunfarms joint venture in Delta, B.C., has a 1.1-million-square-foot (25-acre) greenhouse with 1.03 million square feet of licensed cannabis cultivation space. Emerald Health Therapeutics' 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.

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