Mr. Riaz Bandali reports
EMERALD HEALTH THERAPEUTICS TO CLOSE GREATER VANCOUVER PRODUCTION FACILITY
Emerald Health Therapeutics Inc. will cease operations at its cannabis production facility in Greater Vancouver, B.C., effective March 31, 2021, and will consider strategic alternatives for this facility.
"Closing our Greater Vancouver production facility is part of Emerald's revised business strategy and transition away from the value segment of the cannabis market toward science-driven product development and the defined-scale production of premium cannabis in our St. Eustache, Que., facility targeting consumers in Quebec, Ontario and other key markets, along with the medical cannabis segment of the market," said Riaz Bandali, president and chief executive officer of Emerald.
"This action is expected to save Emerald approximately $4-million in annual operating expenses and will enable us to devote more time, resources and investment related to potential opportunities beyond Canada."
Approximately 10 positions will be made redundant by the closure of the Greater Vancouver production facility. Emerald will continue to operate its St. Eustache and Victoria facilities as well as its separate, purpose-designed research and development facility in Greater Vancouver.
About Emerald Health Therapeutics Inc.
Emerald is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis products with an emphasis on innovation and production excellence.
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