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Emerald Health Therapeutics Inc
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Close 2020-02-26 C$ 0.21
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Emerald Health JV supplies its first pot to Alberta

2020-02-26 07:36 ET - News Release

Mr. Riaz Bandali reports


Emerald Health Therapeutics Inc.'s 50-per-cent-owned joint venture for large-scale, low-cost, quality cannabis production, Pure Sunfarms Corp., has completed its first shipment of cannabis under its supply agreement with Alberta Gaming, Liquor & Cannabis (AGLC). Pure Sunfarms' recreational adult-use cannabis products will be available on Alberta's only legal on-line store in the first week of March and can be purchased by the province's licensed private sector retailers. The AGLC is the wholesaler to private retailers and the only authorized on-line retailer in Alberta.

Alberta has over 400 licensed stores, more than all other provinces combined. The province reported $255-million in legal cannabis retail store sales in the 12 months through December, 2019 (StatsCan), making it the second largest in provincial retail store cannabis sales. Among the top four Canadian provinces by population (86 per cent) and retail store cannabis sales (75 per cent), Alberta's $60-per-capita cannabis purchases compares with a $23-per-capita average in Ontario, Quebec and British Columbia.

"At Pure Sunfarms, we aim to bring great cannabis at the price it should be to recreational consumers across Canada -- that's why we are so excited to expand our footprint into Alberta," said Mandesh Dosanjh, president and chief executive officer, Pure Sunfarms. "With the province's extensive network of licensed retail outlets and strong retail sales, the Alberta cannabis market presents a substantial opportunity for Pure Sunfarms as we continue to share our high-quality B.C. bud with even more Canadians."

Pure Sunfarms launched its branded packaged cannabis products in Canada in September, 2019, starting in Ontario, the province with the largest retail cannabis sale. Pure Sunfarms became the No. 1 selling brand of dried flower products by sales value and volume in October and maintained this position for the fourth quarter. In the fourth quarter it achieved market share of 13 per cent by volume and 11 per cent by sales dollars, with its Afghan Kush the top strain for the quarter in sales dollars and two of its strains (Afghan Kush and White Rhino) in the top five.

"We are pleased to see Pure Sunfarms' advancement in one of the most important provincial cannabis markets in Canada and their brand appeal and success in Ontario," said Riaz Bandali, president and CEO of Emerald. "PSF is well positioned in the three provinces representing more than half of Canadian cannabis sales, significant monthly sales growth in the past year and almost two-thirds of the Canadian population."

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is committed to creating new consumer experiences with recreational and wellness-oriented cannabis products. With an emphasis on innovation and production excellence, Emerald has built a platform of distinct operating assets designed to uniquely serve the Canadian marketplace and international opportunities.

We seek Safe Harbor.

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