Source: Emerald Health Therapeutics, Inc.
Emerald Health
Therapeutics Inc. (“Emerald” or the “Company”) (TSXV:EMH) (OTCQX:EMHTF)
has agreed to issue an aggregate of 2,645,000 incentive stock options to
various directors, officers and employees of the Company at an exercise
price of $4.25 per common share for a period of five years. All options
shall vest 25% on the date of grant and 25% on the first three
anniversaries of the date of grant, other than options granted to
directors of the Company, which shall vest immediately.
The
Options have been granted pursuant to the Company’s Omnibus Incentive
Plan which has been previously approved by the Company’s shareholders
and the TSX Venture Exchange. The options shall be subject to the
applicable policies of the TSX Venture Exchange.
The
Company has also issued 350,000 restricted stock units (“RSUs”) to
certain directors of the company, such RSUs to be settled by the
issuance of 350,000 shares at $4.25 per share, all of which will vest on
January 15, 2019 or such earlier date as is determined by the Board, so
long as such director remains a director, employee or consultant of the
Company as of the vesting date.
About Emerald Health Therapeutics Inc.
Emerald
Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through
Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary
and Licensed Producer under Canada’s Access to Cannabis for Medical
Purposes Regulations. Through Botanicals, Emerald is authorized to
produce and sell dried medical cannabis flower and medical cannabis oil.
It currently operates an indoor facility in Victoria, BC, and is
building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with
expansion potential to 1 million s.f. to serve the anticipated legal
Canadian adult-use cannabis market starting in 2018. Emerald also owns
50% of Pure Sunfarms, a partnership with Village Farms that is
converting an existing 1.1 million s.f. greenhouse in Delta, BC from
growing tomatoes to growing cannabis. Emerald’s team is highly
experienced in life sciences, product development and large-scale
agribusiness. Emerald is part of the Emerald Health group,
which is broadly focused on developing pharmaceutical, botanical and
nutraceutical products designed to provide wellness and medical benefits
by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information.
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