Emerald Health Therapeutics Inc OTCMKTS: EMHTF is a Canadian licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint venture in BC is licensed and fully planted in the first of its two 1.1 million square foot greenhouses. The capacity of each greenhouse is estimated to exceed 75,000 kg of cannabis annually. Emerald’s Verdélite operation in Saint Eustache, Québec is completing the build-out of its 88,000 square foot indoor cultivation facility and is scaling up production. Emerald has contracted for approximately 1000 acres of hemp in 2019 to 2022 with the objective of extracting low-cost cannabidiol. Emerald has secured exclusive strategic partnerships for large scale extraction and softgel encapsulation, as well as for proprietary technology to enhance cannabinoid bioavailability. Its team is highly experienced in life sciences, product development, large-scale agri-business, and marketing, and is focused on developing proprietary, value-added cannabis products for medical and adult-use customers.
Emerald is part of the Emerald Health group, which represents a broad array of companies focused on developing pharmaceutical, botanical, and nutraceutical products aimed at providing wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Emerald Health Therapeutics Inc OTCMKTS: EMHTF On May 30, 2019 has received its first purchase order from Société Québécoise du Cannabis (SQDC) to supply its cannabis products to the Quebec recreational cannabis market. Emerald is scheduled to fulfill its first shipment the week of June 3rd.
“We are pleased to have the opportunity to supply Quebec with our Emerald-branded cannabis products,” said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. “With $71 million in sales during the first six months of legalized recreational cannabis, the SQDC recorded the second highest provincial sales in Canada, making it a significant market for Emerald to now offer our recreational cannabis products as well as introduce our locally-produced Verdélite-branded products in the months ahead.”
Emerald is currently delivering cannabis to the Ontario Cannabis Retail Corporation, Cannabis Retail Store, the British Columbia Liquor Distribution Board, the Newfoundland Labrador Liquor Corporation, PEI Cannabis, the Yukon Liquor Corporation and to licensed private retailers in Saskatchewan. Emerald has also been authorized by the Manitoba Liquor & Lotteries Corporation to supply cannabis to Manitoba and signed a sales agreement with the Alberta Gaming, Liquor and Cannabis to supply cannabis to Alberta.
Emerald Health Therapeutics Inc OTCMKTS: EMHTF On May 31, 2019 reported financial results for the quarter ended March 31, 2019. “Our Q1 sales demonstrate the Company’s accelerating growth in the market,” said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. “As this trend continues, our team is well-positioned to create significantly increasing sales for the Company. The introduction of SYNC 25, our Emerald-branded high-CBD oil for the recreational market, demonstrates our ability to advance differentiated, innovative products to serve the marketplace.”
During 1Q19 the Company filed a short form base shelf prospectus in each of the provinces of Canada that qualifies the issuance and secondary sale of $150 million of common shares. The Company established an at-the-market equity program on March 27, 2019 and has subsequently raised net proceeds from sale of shares totaling $9.8 million. The Company intends to use the proceeds of the financings to fund the completion of capital projects and potential future expansion and acquisitions, including joint venture projects, for research and development, to expand the Company’s existing extraction capabilities, and for working capital and general corporate purposes.