Emerald Provides Corporate Update and Lays out 2017 Growth Initiatives

VICTORIA, Feb. 22, 2017 /CNW/ – Emerald Health Therapeutics Inc. (TSXV: EMH) (OTC: TBQBF) ((“Emerald” or the “Company”) provides a corporate update on the back of its recently closed and oversubscribed bought deal financing (see here), and reprises its vision for growth in 2017.

Following our successful financing with Dundee Capital Partners, Emerald is well capitalized and prepared for an exciting year of growth. Led by one of the industry’s most experienced scientific development teams, our focus has remained on downstream product development.

Avtar Dhillon, MD, Executive Chairman of Emerald

From day one, Emerald has operated with the mandate of “enhancing health through cannabis science” and it’s these principles that will guide us as we forge ahead with our exciting and aggressive growth initiatives.

Significant expansion planned on 32-acre site in Metro Vancouver

As Emerald has been planning expansion, much of its research and development focus has involved increasing plant diversity and product offerings, as well as improving on its cultivation, manufacturing, and standardization processes in anticipation of a significant scale up. As the fifth applicant and eighth Licensed Producer in Canada, from the beginning Emerald has focused on quality of cultivation over quantity backed by strong research and development.

Phase 1 Expansion:

Plans are well underway to break ground in Q1 2017 to add 50,000 sq. ft. of cultivation space

This will be a state-of-the-art purpose built facility with anticipated capacity in excess of 5,000 kg per annum

Emerald’s first harvest is anticipated in early 2018 and will be ready for sale upon licensing

Phase 2 Expansion:

Emerald plans to scale-up in a modular fashion, with 50,000 sq. ft. additions to minimize the risk of product quality issues

Construction on Phase 2 to add an additional 50,000 sq. ft. of production area is anticipated to begin shortly after the commencement of Phase 1 and will be ready for production in 2018

The Company has the capacity to build out an aggregate of 1 million sq. ft. of total production space on its 32-acre Metro Vancouver property.

Science-based development of high-value downstream products

Over the past two years Emerald has put in place what it regards as the essential components for consistent, high-value product creation by:

Characterizing many unique strains, with high levels and desirable ratios of potentially therapeutic cannabinoids, from its industry-leading pool of cannabis genetics

Assembling a highly capable, proven cultivation team that has operated with Good Production Practices and has grown high quality, non-irradiated medical cannabis

Establishing its Extractions and Research and Development laboratory with scalable processes and quality systems

Collaborating with leading physicians and researchers to design clinical studies to demonstrate the efficacy of its own products

“If this plant is to truly to be regarded as a medicine it requires manufacturing, intake and dosage in line with proven medical practice that we are accustomed to for medicines,” says Dr. Dhillon.

Emerald’s plans to intensify this focus for 2017 and beyond

Continue investment in its core competency, clinical research and development of intellectual property as well as high value products for the medical and recreational cannabis markets

Initiate global partnerships and export opportunities into potential new cannabis markets when legal

Join us on our journey of enhancing health through cannabis science.

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics, Inc. operates primarily through Emerald Health Botanicals Inc. (“Botanicals”), a wholly owned subsidiary of the Company and a Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”). Botanicals is authorized to cultivate and sell both dried medical cannabis flowers and medical cannabis oils in Canada. Botanicals currently operates an indoor cultivation facility in Victoria, British Columbia, and plans to construct a much larger purpose built hybrid greenhouse facility on 32 acres in metro Vancouver. Botanicals prides itself on being one of Canada’s most medically focused licensed producers and on having one of the industry’s most experienced management teams with respect to pharmaceutical drug discovery, development and distribution. Botanicals intends to capture unique niches in both the medical and future adult use cannabis markets through its proprietary strains, high value products, and superb customer experience.

For more information, explore our website and investor presentation.

Original press release: http://www.newswire.ca/news-releases/emerald-provides-corporate-update–lays-out-2017-growth-initiatives-614476323.html

Get ahead of the crowd by signing up for 420 Investor, the largest & most comprehensive premium subscription service for cannabis traders and investors since 2013.

Published by NCV Newswire The NCV Newswire by New Cannabis Ventures aims to curate high quality content and information about leading cannabis companies to help our readers filter out the noise and to stay on top of the most important cannabis business news. The NCV Newswire is hand-curated by an editor and not automated in anyway. Have a confidential news tip? Get in touch