Emerald Health Therapeutics Expands Its Cannabis Supply With Purchase From Supreme Pharmaceuticals
Published: Sep 20, 2017
VICTORIA, British Columbia, Sept. 19, 2017 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics Inc. (EHT) (TSXV:EMH) (OCTQX:EMHTF) today announced that its wholly owned subsidiary, Emerald Health Botanicals Inc., has completed a purchase of dried cannabis from Supreme Pharmaceuticals Inc.’s (Supreme) (TSXV:FIRE) subsidiary, 7ACRES.
“Emerald’s strategy emphasizes value-added downstream product development. Our ability to source low-cost cannabis from our own facilities is increasing through our Pure Sunfarms joint venture, which presents industry-leading scale and cost potential. Partners such as Supreme will help us supplement our supply for the higher-end dried flower segment, both for current patients and for the anticipated growth in domestic and international demand for medical and adult-use cannabis,” said Dr. Bin Huang, President and CEO of Emerald. “Supreme’s 7ACRES is a high quality grower that meets our own standards for cultivation, and which we are pleased to work with to expand our sources of dried cannabis.”
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About Supreme Pharmaceuticals Inc.
Supreme Pharmaceuticals is committed to becoming a leading cultivator and distributor of sun-grown cannabis through its wholly owned subsidiary 7 Acres. 7 Acres is a federally licensed producer of medical cannabis pursuant to the ACMPR (access to cannabis for medical purposes regulations) operating inside a 342,000-square-foot hybrid greenhouse facility.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates primarily through Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary and Licensed Producer under the Access to Cannabis for Medical Purposes Regulations. Botanicals is authorized to produce and sell both dried medical cannabis flower and medical cannabis oil in Canada. Botanicals currently operates an indoor facility in Victoria, BC, and is progressing on expansion plans for a 32-acre property in Metro Vancouver and a joint venture with Village Farms utilizing a 25 acre existing greenhouse complex in Delta, BC. Botanicals is one of Canada's most medically focused licensed producers, with a team highly experienced in life sciences product development and large-scale agribusiness. Its vision is to be a leading provider of cannabis products through its production capabilities, proprietary genetics, value-added products and branding, and superb customer experience. Emerald Health Therapeutics is part of the Emerald Health group, which comprises multiple companies advancing diverse botanical, nutraceutical and pharmaceutical products that may provide wellness and medical benefits by interacting with the body’s endocannabinoid system.
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to legalization of non-therapeutic cannabis sales in Canada; participation in the legalized non-therapeutic cannabis industry; growth in the extract-based market; increased production of cannabis; commercial operations; construction or conversion of production facilities; applications for licensing; obtaining such licenses; commencement of production of cannabis at the Company’s facilities; estimates of production capacity at such facilities; international opportunities for the Company; the Company becoming a leading Canadian supplier of cannabis products; expected timing of any of the above matters; and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure of the federal government to approve legislation legalizing sales of non-therapeutic adult-use cannabis; failure to obtain Health Canada and other regulatory approvals; failure to obtain necessary financing; availability of production facilities; timeliness of government approvals and the granting of permits and licenses; changes in prices and costs; actual operating and financial performance of facilities; equipment and processes relative to specifications and expectations; as well as the other risk factors set out in the Company’s annual information form and other filing with the applicable Canadian securities regulators, which may be viewed at www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.