Emerald Health Therapeutics Launches 88,000 Square Foot State-of-the-Art, Fully-Integrated Indoor Facility and Verdélite Bra...
February 20 2019 - 5:00AM
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) today announced the launch of Verdélite Sciences Inc.
("Verdélite"), a wholly-owned, Québec-based production subsidiary
licensed by Health Canada. Formerly known as Agro-Biotech,
Verdélite currently produces high-grade dried cannabis for medical
and adult-use purposes.
Emerald is nearing completion of its over $100
million investment to secure and expand its multi-purpose facility
to 88,000 square feet and enable the complete cycle of indoor
cultivation, product development and automated packaging of
cannabis products. Upon reaching full production levels in
mid-2019, Verdélite projects it will have created approximately 140
jobs.
"This investment will enable us to produce
quality cannabis products adhering to our high growing and
processing standards,” said Thierry Schmidt, President of Verdélite
Sciences. “Verdélite will be synonymous with differentiated and
value-added cannabis products, and we are pleased to see the level
of industry skill and enthusiasm coming from the Saint-Eustache
community and the local interest and support to help contribute to
our success.”
In addition to 23 state-of-the-art growing
rooms, the facility will include an analytical testing laboratory
as well as a research centre for product innovation and extraction
technology. These capabilities will also position Verdélite to
competitively participate in the development and production of
edible cannabis products, which are expected to be sanctioned by
Health Canada by October 17, 2019.
"We’re delighted to see our Québec-based
Saint-Eustache facility coming online and adding to our capability
to deliver high quality adult-use and medical cannabis products,”
said Dr. Avtar Dhillon, President and Executive Chairman of
Emerald. “The Verdélite team has been working tirelessly to bring
to fruition one of the core assets in Emerald’s national and
international development strategy.”
Emerald acquired Verdélite in May 2018 with an
operating footprint of 25,000 square feet. The full 88,000 square
foot facility is expected to be operational in Q2 2019, with
approximately 50,000 square feet of cannabis flowering capacity in
precision-controlled environments. Verdélite possesses
approximately 200 strains of cannabis.
By the Numbers
- 140 estimated full-time jobs in Saint-Eustache once fully
operational
- 88,000 square foot purpose-built cannabis production
facility
- 23 independent growing rooms
- 200 cannabis strains
- 12 processing and packaging rooms.
About Verdélite Sciences Inc.
Verdélite, a wholly owned subsidiary of Emerald Health
Therapeutics, Inc., is a Health Canada- licensed cannabis
cultivation facility located in Saint-Eustache, 30 km north of
Montréal, Québec. This facility, purpose-built to produce, process
and package cannabis products, is nearing completion of an
expansion to 88,000 square feet. The facility has abundant access
to high-quality low-cost water and electricity.
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 acres) greenhouse for cannabis cultivation in the
Lower Mainland and its Verdélite operation in Québec is completing
the build-out of its 88,000-square-foot 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 from 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 agribusiness, 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 pharmaceuticals, 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
Verdélite/Emerald Investor and Public RelationsMarie-Eve Chaume
+1 514 951-5498 mechaume@Verdélite.ca
Emerald Investor Relations (800) 757 3536 Ext.
#5invest@emeraldhealth.ca
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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 projected job creation figures at our operating facilities;
production and processing 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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