10:43:58 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 146,613,072
Close 2019-05-24 C$ 3.77
Market Cap C$ 552,731,281
Recent Sedar Documents

Emerald Health issues 2.12M shares to Verdelite vendors

2019-05-27 08:20 ET - News Release

Mr. Rob Hill reports

EMERALD COMPLETES ISSUANCE OF SHARES IN LIEU OF CASH DUE FOR VERDELITE ACQUISITION

The vendors of Verdelite Sciences Inc. and Verdelite Property Holdings Inc. have received 2,129,707 shares of Emerald Health Therapeutics Inc. in lieu of $7.5-million of the $22.5-million they were to receive as the final payment for their shares of Verdelite. Each share was valued at $3.5216, 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. The agreement to receive shares in lieu of cash was previously announced by the company on May 1, 2019.

Issuance of the shares was subject to approval from the TSX Venture Exchange, which was received on May 13, 2019. The shares are subject to a hold period of four months and one day.

Separately, Punit Dhillon has temporarily stepped down as a director of the company in order to potentially expedite Emerald licence applications to Health Canada while Health Canada processes Mr. Dhillon's previously submitted normal course application for security clearance to meet the requirements for company directors under the Cannabis Act. Mr. Dhillon will continue to serve as an observer to Emerald's board of directors and will be reappointed as a director upon his security clearance being finalized.

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 licensed and fully planted in the first of its two 1.1-million-square-foot greenhouses. The capacity of each greenhouse is estimated to exceed 75,000 kilograms of cannabis annually. Emerald's Verdelite operation in Saint Eustache, Que., is completing the buildout of its 88,000-square-foot indoor cultivation facility and is scaling up production.

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