Ms. Jenn Hepburn reports
EMERALD HEALTH THERAPEUTICS EXTENDS DATES FOR FILING FINANCIAL STATEMENTS
As a result of the COVID-19 pandemic, Emerald Health Therapeutics Inc., as well as its auditor and filing agents, has followed the recommendations of local health authorities and has temporarily closed its offices, having employees work remotely to minimize their exposure risk. As such, Emerald is relying on the co-ordinated relief provided by securities regulators, which consists of a 45-day extension for certain periodic filings required on or before June 1, 2020, pursuant to B.C. Instrument 51-515 (Temporary Exemption from Certain Corporate Finance Requirements in British Columbia) and similar exemptions in other provinces.
Emerald will rely on these exemptions with respect to the requirement to file:
- Audited financial statements for the year ended Dec. 31, 2019, within 120 days of the company's financial year-end;
- Management's discussion and analysis for the period covered by the annual financial statements within 120 days of the company's financial year-end;
- Its annual information form for the year ended Dec. 31, 2019;
Certifications of the annual financial statements and annual information form;
Interim financial statements for the quarter ended March 31, 2020, within 60 days of the company's financial quarter-end;
- Management's discussion and analysis for the period covered by the interim financial statements within 60 days of the company's financial quarter-end;
Certifications of the interim financial statements.
In addition, the U.S. Securities and Exchange Commission has issued an order under Section 36 of the Exchange Act (release No. 34-88318 (March 4, 2020) and 34-88465 (March 25, 2020)) that will provide Emerald with a similar extension on the filing of its annual report on Form 20-F provided that it satisfies the conditions of the order, including the filing of a report of foreign private issuer on Form 6-K with the SEC that includes information regarding the impact of COVID-19 on the business of Emerald and certain other required information.
Emerald is continuing to work diligently and expeditiously to file its annual documents for the year ended Dec. 31, 2019, and the quarterly documents for the quarter ended March 31, 2020. Emerald currently expects such documents to be filed on or about May 13, 2020, and June 17, 2020, respectively.
Emerald confirms that there have been no material developments, other than those disclosed through news releases, since the filing of its interim consolidated financial statements for the period ended Sept. 30, 2019.
Emerald advises that, in accordance with the requirements of the blanket relief, management and other insiders of Emerald are subject to a trading blackout as described, in principle, in Section 9 of National Policy 11-207 (Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions) until its filings are up to date.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics is committed to cutting-edge cannabis science to create new consumer experiences with distinct recreational, medical and wellness-oriented cannabis and non-cannabis products. With an emphasis on innovation and production excellence, Emerald has three distinct operating assets that are designed to uniquely serve the Canadian marketplace and international opportunities. These assets, all in full production, include: its greenhouse operation based in Richmond, B.C. (78,000 square feet), capable of producing organic-certified product; Verdelite, its premium craft cannabis production indoor facility in St. Eustache, Que. (88,000 square feet); and Pure Sunfarms, its 41.3-per-cent-owned joint venture in Delta, B.C., producing high-quality, affordably priced products (1.1 million square feet). Its Emerald Naturals joint venture has launched a new natural wellness product category with its non-cannabis endocannabinoid-supporting product line and is expanding distribution across Canada.
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