Emerald Health sees Expansion of Pure Sunfarms’ Cannabis Cultivation License to 825,000 Square Feet
January 28 2019 - 6:00AM
Emerald Health Therapeutics, Inc. ("Emerald" or the “Company”)
(TSXV:EMH; OTCQX:EMHTF) announced that its 50%-owned joint venture
focused on large-scale, low-cost, high-quality cannabis production,
Pure Sunfarms, received from Health Canada its sixth amendment to
its cultivation license for its 1.1 million square foot greenhouse
in Delta, BC. The additional approximately 138,000 square feet
brings Pure Sunfarms’ total licensed cannabis production area to
approximately 825,000 square feet. The newly licensed area is
expected to be fully planted and in production this week.
Pure Sunfarms has also completed conversion of
the approximately 206,000 square feet of growing area in the fourth
and final quadrant, which is under review by Health Canada with
respect to further amendment of Pure Sunfarms’ cultivation license.
This further amendment would expand its permitted production area
to just over 1.03 million square feet. The remaining approximately
69,000 square feet of the facility is being converted to processing
and extraction activities. The Pure Sunfarms Delta greenhouse will
be one of the single largest cannabis growing facilities in the
world.
“With deep cannabis and large-scale greenhouse
growing expertise, established operational systems, and cannabis
strains well-suited to a greenhouse environment, we expect Pure
Sunfarms’ leadership in optimized greenhouse cannabis growing to
achieve attractive quality, yield, and profitability,” said Dr.
Avtar Dhillon, Executive Chairman and President of Emerald. “We
expect this facility to be in full production in the first half of
2019. With Emerald’s supply agreement for 40% of Pure Sunfarms’
2019 production along with our Quebec and hemp operations, we are
strongly positioned for quarter to quarter sales growth.”
All supplemental lighting is operational in
Quadrants 2 and 3 of the Pure Sunfarms facility, and is expected to
be operational in Quadrant 4 upon start of production, supporting
maximum yields during the lower daylight winter months.
Supplemental lighting infrastructure is currently being installed
in Quadrant 1 and will be completed prior to Quadrant 1 resuming
production in late February 2019. Conversion of Quadrant 1 was
completed in April 2018 without supplemental lighting to enable
immediate production during the summer when supplemental lighting
was not needed.
The technologically-advanced Delta 3 greenhouse
design is based on decades of large-scale, low-cost agricultural
production experience and extensive cannabis expertise, resulting
in a state-of-the-art facility with 16 grow rooms (13 of which are
now licensed) optimized for year-round harvesting (more than 80
harvests annually).
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. is a Canadian
licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint
venture in BC is completing the conversion of its 1.1 million
square foot (25 acre) greenhouse for cannabis cultivation in the
Lower Mainland and its Verdélite operation in Québec is completing
the build out of its 75,000 square feet indoor cultivation
facility. Commercial production is expanding in both facilities.
Emerald secured over 500 acres of hemp harvest in 2018 and has
contracted for approximately 1000 acres in 2019 to 2022, with the
objective of extracting low-cost cannabidiol (CBD). Emerald’s 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
developed to 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
Investor Relations(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; production capacity
of various facilities; expansion of facilities; and anticipated
production costs.
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; 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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