Emerald Health Therapeutics’ Subsidiary Northern Vine Receives International Government Approvals and Completes Import and ...
October 10 2018 - 6:00AM
Northern Vine receives approval from Health
Canada to export to USA and import isolated CBD from the
Netherlands, Colombia and China, with corresponding national
permits
Emerald Health Therapeutics, Inc. (TSXV:EMH; OTCQX:EMHTF)
(“Emerald”) announced today that Northern Vine Canada Inc.
(Northern Vine), a wholly owned subsidiary of Emerald, successfully
completed the export of cannabis oil to the United States on May 25
pursuant to an import permit from the federal U.S. Drug Enforcement
Agency (DEA). The cannabidiol (CBD)-containing cannabis oil is
expected to be used by a US biopharmaceutical company to develop
its proprietary cannabinoid technology for medical research and
development and for its manufacturing process for future clinical
trials.
In addition, Northern Vine successfully imported
isolated cannabigerol (CBG) from Spain on June 27 for medical
research and development of plant-based therapies with unique
cannabinoid profiles. Northern Vine also recently received
cannabinoid oil imports for medical research and development from
Netherlands and Colombia, and has been approved for cannabinoid oil
imports from China.
Northern Vine is a Licensed Dealer (“LD”) under
the provisions of the Canadian Controlled Drugs and Substances Act.
An LD is permitted to carry out certain business activities that
Emerald is not permitted to undertake as a Licensed Producer (“LP”)
under Access to Cannabis for Medical Purpose Regulations (“ACMPR”),
including the import/export of cannabis and cannabis oils as well
as the manipulation, formulation, dosage form, strength or package
size of cannabis, including mixtures with other additives,
controlled substances, and non-controlled substances, expanding
possible research and product innovation opportunities for
Emerald.
“We are one of the few companies with DEA
approval in the United States allowing us to support the
development of novel cannabis-based medical-use drugs. This
is representative of our capabilities focused on international
clinical development,” said Chris Wagner, CEO of Emerald.
“Importing unique isolates from sophisticated international
producers for our own research and development is also
aligned with our focus of driving the development of novel
cannabis-based products to improve lives around the world.”
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. (TSXV: EMH;
OTCQX: EMHTF; Frankfurt: TBD) is a Licensed Producer under Canada’s
Access to Cannabis for Medical Purposes Regulations and produces
and sells dried cannabis and cannabis oil for medical purposes.
Emerald owns 50% of Pure Sunfarms, which is converting a licensed
existing 1.1 million square foot greenhouse in Delta, BC, and is in
commercial production. It owns Agro-Biotech, a Québec-based
licensed cannabis grower with a 75,000 square foot indoor facility.
Emerald has also entered into hemp chaff purchase agreements in
2018 and subsequent years. Emerald’s team is highly experienced in
life sciences, product development, large-scale agri-business, and
marketing, and is focused on developing value-added cannabis-based
products with potential wellness and medical benefits. Emerald is
part of the Emerald Health group, which is broadly focused on
developing pharmaceutical, botanical, and nutraceutical products
that may provide wellness and medical benefits by interacting with
the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more
information or contact:Rob Hill, Chief Financial Officer(800) 757
3536 Ext. #5
Ray Lagace, Investor Relations Manager(800) 757
3536 Ext. #5invest@emeraldhealth.ca
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements: Certain statements made in this press release that are
not historical facts are forward-looking statements and are subject
to important risks, uncertainties and assumptions, both general and
specific, which give rise to the possibility that actual results or
events could differ materially from our expectations expressed in
or implied by such forward-looking statements. Such statements
include legalization of nonmedicinal cannabis; development of
technology and products; and supply of hemp.
We cannot guarantee that any forward-looking
statement will materialize, and readers are cautioned not to place
undue reliance on these forward-looking statements. These
forward-looking statements involve risks and uncertainties related
to, among other things, failure to obtain regulatory approvals;
failure to obtain necessary financing; failure of the counterparty
under Emerald’s hemp supply agreement to source hemp; results of
production and sale activities; results of scientific research;
regulatory changes; changes in prices and costs of inputs; demand
for labour; demand for products; as well as the risk factors
described in the Company’s annual information form and other
regulatory filings. The forward-looking statements contained in
this press release represent our expectations as of the date
hereof. Forward-looking statements are presented for the purpose of
providing information about management's current expectations and
plans and allowing investors and others to obtain a better
understanding of our anticipated operating environment. Readers are
cautioned that such information may not be appropriate for other
purposes. The Company undertakes no obligations to update or revise
such statements to reflect new circumstances or unanticipated
events as they occur, unless required by applicable law.
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