Emerald
Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) (Emerald) today
applauds the Canadian government’s historic passing of Bill C-45
(Cannabis Act) to end Canada’s near century-long prohibition of
recreational cannabis and usher in a new era of cannabis regulation.
“Today
is a historic moment for Canada with the government’s approval of the
Cannabis Act, which will provide a new legal framework and establish
Canada as a globally recognized leader of cannabis legalization. We are
the first G7 country to federally legalize cannabis for medicinal and
recreational use. Moving forward, the world will look to Canada when
developing their own rules and regulations,” said Chris Wagner, CEO at
Emerald.
“We support the government’s efforts to
ensure we keep cannabis out of the hands of children and profits out of
the pockets of organized crime. At Emerald, we support the right of
patients across Canada to access safe and affordable medical cannabis
and we will continue to advocate for tax-exempt status for medical
cannabis. In addition, we support building on this regulatory framework,
furthering cannabis research and education, and fostering comprehensive
communication in order to allow this industry to mature and consumers
to make informed choices.”
To conclude, Mr.
Wagner stated: “We respect the people who made this day possible:
government officials and social advocates who believed in a safer, more
well-regulated system for Canadians. We will continue to uphold our
commitment to deliver high-quality product to consumers, advance product
innovation, and expand our production capacity to meet anticipated
demand. At Emerald, we envision a valuable cannabis industry that will
work in the best interests of Canadians and we will continue to focus on
our goal of enhancing the health and well-being of others through
cannabis science and product innovation.”
With
the introduction of legalized recreational cannabis in Canada, Emerald
is making great strides towards achieving its goal of large-scale,
high-quality, low-cost cannabis production via multiple projects:
- Currently retrofitting its 50-percent owned 1.1 million square foot greenhouse in Delta, BC, which has its cultivation license and is expected to generate 46,000–52,000 kg in 2019 and more than 75,000 kg/year when the facility reaches full production.
- Acquired Licensed Producer Agro-Biotech, the assets of which include a Health Canada cultivation license and a 75,000 square foot purpose-built facility in Saint-Eustache, Québec; estimated full production capacity is targeted to exceed 10,000 kg/year starting in 2019.
- Planning to construct a 500,000 square foot hybrid indoor and greenhouse cannabis growing facility in Metro Vancouver.
Emerald looks forward to participating in the launch, evolution, and future success of the Canadian adult-use cannabis market.
Emerald is available for comment on the historic passing of Bill C-45.
About Emerald Health Therapeutics, Inc.
Emerald Health Therapeutics (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 is preparing to serve the anticipated
legal Canadian adult-use cannabis market starting in 2018. Emerald owns
50% of Pure Sunfarms, which is converting a licensed existing 1.1
million square foot greenhouse in Delta, BC and is now 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.
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