19:54:20 EST Sun 28 Feb 2021
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or Name

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Emerald Health Therapeutics Inc
Symbol EMH
Shares Issued 188,792,493
Close 2020-08-13 C$ 0.17
Recent Sedar Documents

Emerald Health arranges $3.25M at-the-market offering

2020-08-13 07:47 ET - News Release

Ms. Jenn Hepburn reports


Emerald Health Therapeutics Inc. has established an at-the-market equity program that allows the company to issue common shares from treasury having an aggregate gross sales price of up to $3.25-million to the public from time to time, at the company's discretion, at the prevailing market price when issued on the TSX Venture Exchange or on any other marketplace for the common shares in Canada. The ATM program is effective until the earlier of April 13, 2021, and completion of the sale of the maximum amount of shares thereunder and will be activated from time to time at the company's discretion if and when required based on the company's working capital requirements and capital expenditures and relative cost of other financing options.

Sales of the common shares through the ATM program will be made pursuant to the terms of an equity distribution agreement dated as of the date hereof with Eight Capital.

Sales of common shares will be made through at-the-market distributions as defined in National Instrument 44-102 -- Shelf Distributions on the TSX-V or on any other existing marketplace for the common shares in Canada. The common shares will be distributed at the prevailing market prices at the time of the sale and, as a result, prices may vary among purchasers and during the period of distribution. The ATM offering is being made pursuant to a prospectus supplement dated Aug. 13, 2020, to the company's short form base shelf prospectus dated March 13, 2019.

The company expects to use the net proceeds of the ATM program, if any, to finance the costs for the completion of its current capital projects and for working capital and general corporate purposes.

The prospectus supplement (together with the related base shelf prospectus) is available under the company's profile on the SEDAR website maintained by the Canadian Securities Administrators.

The company has applied for conditional approval from the TSX-V for the listing of the common shares to be offered under the ATM program.

The company has also entered into a termination agreement with Stifel Nicolaus Canada Inc. pursuant to which the parties have agreed to terminate the company's previous at-the-market equity program originally established under the equity distribution agreement dated March 27, 2019. Pursuant to the previous program, the company issued an aggregate of 5,936,500 common shares during the period commencing March 30, 2019, and ending Aug. 22, 2019, for gross aggregate proceeds of $18.77-million. No shares have been sold under the previous program since Aug. 22, 2019.

About Emerald Health Therapeutics Inc.

Emerald Health Therapeutics is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis and non-cannabis products, with an emphasis on life-science-based innovation and production excellence. The company's three distinct operating assets are designed to uniquely serve the Canadian marketplace and international opportunities. These assets, all in full production, include: its Metro Vancouver-based greenhouse operation (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), which the company has recently agreed to sell; 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 subsidiary 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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