We’ve done a lot to keep track of the vibrant and growing Canadian cannabis industry, and that includes searching for new players on the scene. EMERALD HEALTH THE (OTCMKTS:EMHTF) is one that has found its way onto our desk, with an ambitious plan to have an impressive 500,000 square feet of cannabis growing by the end of 2018.
That would certainly propel the company to a prominent position, and according to a recent review of its Health Canada application, it could be ready to get one step closer to those aspirations.
Recently EMERALD HEALTH THE (OTCMKTS:EMHTF) announced that its licensed producer application (submitted through its subsidiary, Emerald Health Botanicals) for a new Richmond, BC greenhouse facility under Access to Cannabis for Medical Purpose Regulations (ACMPR) has met the requirements of the paper-based review of Health Canada’s Office of Medical Cannabis (OMC). The OMC confirmed satisfactory provision of information regarding the security plan, record keeping and tracking systems, QA reports, and security clearance for key personnel, among other items. Emerald aims to harvest from this new 75,000 square feet of cultivation space by 3Q 2018 and plans to have over 500,000 square feet of cultivation space built at this site by year end.
The OMC has invited the submission of written and visual evidence, upon completion of construction of the first phase, demonstrating that there is a functioning facility that adheres to the OMC’s regulations. Health Canada’s satisfactory review of this evidence may then result in their issuance of a cultivation license for this new Emerald growing facility. Emerald has started construction of the first 75,000 square foot greenhouse module, which will include indoor growing space, and aims to complete construction and submit confirmation of readiness documentation to Health Canada in March 2018.
“As with Health Canada’s fast paper-based review of our Pure Sunfarms facility, we appreciate their quick preliminary review of our licensed producer application for Emerald’s fourth site,” said Chris Wagner, CEO of Emerald.
“With significant, secure supply from our large-scale Pure Sunfarms partnership and Emerald facilities, and our value-added product development plans, we intend to be well-positioned for growth in the adult use market in the near and long term,” said Dr. Avtar Dhillon, Executive Chairman of Emerald.
Emerald is aiming to significantly expand product sales in conjunction with adult-use legalization in the summer of 2018. The company expects cannabis supply from the first 250,000 square foot phase of its Pure Sunfarms 50/50 partnership prior to legalization. Completion of conversion of Sunfarms’ second phase of 250,000 square feet in its 1.1 million square foot greenhouse is targeted for 3Q 2018.
With its wholly owned facility, Emerald is targeting completion of construction of its second phase of 75,000 square feet of cultivation space in 3Q 2018 and its third phase of over 350,000 square feet — amounting to over 500,000 square feet — by the end of 2018. Emerald’s new facility will house corporate offices and have additional space for extraction and other activities.
As we mentioned above, the company’s plans are rather ambitious, and probably represent a best case scenario, but it certainly does add an element of anticipation on our part. We’ll be interested to keep track of the company’s licensure and buildout status on an ongoing basis from here forward. We’ll stay up on any further developments with EMHTF and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in EMHTF stock, short or long.