Mr. Rob Hill reports
EMERALD TO ISSUE SHARES IN LIEU OF CASH DUE UNDER FOR VERDELITE ACQUISITION
The vendors of Verdelite Sciences Inc. and Verdelite Property Holdings Inc. have elected to receive $7.5-million of the $22.5-million they were to receive as the final payment for their shares of Verdelite in shares of Emerald Health Therapeutics Inc. valued on the five-day volume-weighted average price of the common shares of Emerald on the TSX Venture Exchange, discounted 10 per cent, calculated as of April 30, 2019. See the company's news release dated May 2, 2018, for more details on the Verdelite acquisition. Emerald is to pay the remaining $15-million of the purchase price to the vendors on or before May 30, 2019.
Issuance of the shares is subject to approval from the TSX Venture Exchange. The shares will be subject to a hold period of four months and one day.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics is a Canadian licensed producer of cannabis.
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