Emerald Health Therapeutics Announces Pure Sunfarms’ Delta 3 Greenhouse is Fully Planted; Reporting Year End Financials May...
April 23 2019 - 6:00AM
Pure Sunfarms on track to reach annual
production run-rate of 75,000 kilograms by mid-2019
Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX:
EMHTF) today announced that its 50%-owned joint venture, Pure
Sunfarms, has completed planting of the final quadrants of its 1.1
million square foot Delta 3 greenhouse operation in Delta,
BC. As a result, the entire 1.03 million square feet of
growing area at Delta 3, comprising 16 individual grow rooms, is on
track to reach its annualized full production run-rate of 75,000
kilograms by mid-2019.
Pure Sunfarms is now moving forward on its plan
to convert the nearly identical 1.1 million square foot Delta 2
‘sister’ facility with the goal of at least doubling annual
cannabis production to 150,000 kilograms and support its goal to be
the high-quality, low-cost producer in Canada. Pure Sunfarms aims
to complete its first harvest at the Delta 2 facility mid-2020 and
achieve full run-rate production in the fourth quarter of 2020,
subject to the receipt of Health Canada licenses.
Emerald Health Therapeutics Fourth
Quarter and 2018 Year-End Conference Call
Emerald Health Therapeutics will host its fiscal
fourth quarter and 2018 year-end financial results conference call
on Wednesday, May 1, 2019 at 8:30 a.m. ET.
To access the audio broadcast, please dial (866) 652-5200, or
via the Internet at:
https://services.choruscall.com/links/emhtf190501.html. An archived
version of the presentation will be available for 90 days on the
"Investors" section of Emerald's website:
https://ir.emeraldhealth.ca/events-and-presentations.
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 licensed to cultivate in 1.03 million square feet
of the first of it’s 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 Québec is
completing the build out of its 88,000 square foot indoor
cultivation facility and is scaling up production. 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 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 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
Emerald 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 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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