Emerald Health Therapeutics Inc (OTCMKTS: EMHTF) has been running up the charts in recent weeks on accelerating volume as pot stocks heat up across the board and light up the small caps!
Emerald continues to put out big press announcing last week it has fulfilled its first purchase order of cannabis from Ontario Cannabis Retail Corporation, operating as the Ontario Cannabis Store (“OCS”). Currently, Emerald’s cannabis supply is provided primarily through its 88,000 sq. ft. Verdelite indoor facility in Saint Eustache, Quebec, and through Pure Sunfarms, its 50%-owned 1.1 million sq. ft. greenhouse facility in Delta, British Columbia. It is working to expand sources and volume of indoor, greenhouse and outdoor-grown cannabis and cannabinoid products. In 2018, Emerald acquired 500 acres of harvested hemp and expects to purchase approximately 1,000 acres of harvested hemp in 2019. It is implementing steps intended to achieve large-scale extraction and softgel encapsulation of cannabis products.
President Dr. Avtar Dhillon stated:
“As we scale up production in our wholly-owned, premium indoor growing facility, Verdelite, and our large-scale, state-of-the-art joint venture greenhouse operation, Pure Sunfarms, we are consistently meeting our supply commitments of Emerald-branded adult-use cannabis in British Columbia and Newfoundland Labrador, and we are now prepared to provide the same service to the Ontario Cannabis Retail Corporation and other provinces. We now have distribution access to over half of the Canadian population of adult-users of non-medical cannabis. We are advancing prospective supply agreements that we expect will ultimately give us nation-wide market exposure.”
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 and is planning to add a 500,000 square foot greenhouse in Metro Vancouver.
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.
Through its operations, subsidiaries, and joint ventures the Company is focused on four priorities to meet the current needs of the Canadian legal cannabis market and future demand in the therapeutic and non-therapeutic adult-use market: 1) Significant production expansion; 2) Research and development and clinical work; 3) Extraction expertise and value-added product development supported by protected intellectual property; and 4) Expanding nationwide distribution channels.
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Emerald Health Therapeutics joint venture, Pure Sunfarms, continues to move towards achieving its goal of large-scale, high-quality, low-cost cannabis production. On July 27, 2018, Pure Sunfarms received its cannabis sales license from Health Canada. Additional space continues to be developed for cannabis production at the Pure Sunfarms’ 1.1 million-square foot (25-acre) greenhouse facility located on a 50-acre parcel of land in Delta, British Columbia, with the entire 1.1 million square foot Delta 3 site expected to be in production in 2019. The Company has entered into a supply agreement with Pure Sunfarms whereby the Company has agreed to purchase 40% of Pure Sunfarms’ production in 2018 and 2019 at a set price per gram.
On March 18 Emerald announced Allan Rewak has been appointed Vice President, Communications and Stakeholder Relations, effective April 15, 2019. Prior to joining Emerald, Mr. Rewak was the Executive Director at the Cannabis Council of Canada (C3), Canada’s national industry association for cannabis, cultivators and processors. In the role, he unified multiple industry associations into one collective and navigated the sector through the successful legalisation of adult-use cannabis. For his work, the Financial Post named him “One of the 20 Power Players Setting Down Roots in the Cannabis Industry”.
“We are pleased to welcome Allan to the Emerald team,” said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. “His deep industry relationships and proven experience in the sector, combined with his strong background in communications and stakeholder relations with all major relevant sectors of the industry, are expected to augment our existing capabilities.”
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Currently trading at a $490 million market valuation Emerald Health has $89 million in the treasury, manageable debt and growing revenues reporting 373,218 for the 3 months ended March 31, 2018 up from $201,268 for the same period last year. Emerald Health is a Licensed Producer and its cannabis supply is provided primarily through its 88,000 sq. ft. Verdelite indoor facility in Saint Eustache, Quebec, and through Pure Sunfarms, its 50%-owned 1.1 million sq. ft. greenhouse facility in Delta, British Columbia. It is working to expand sources and volume of indoor, greenhouse and outdoor-grown cannabis and cannabinoid products. In 2018, Emerald acquired 500 acres of harvested hemp and expects to purchase approximately 1,000 acres of harvested hemp in 2019. We will be updating on Emerald Health when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Emerald Health.
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Disclosure: we hold no position in Emerald Health either long or short and we have not been compensated for this article.