Emerald
Health Therapeutics, Inc. (TSX-V:EMH) (OTCQX:EMHTF) (“Emerald”) and
Village Farms International, Inc. (“Village Farms”) (TSX:VFF)
(OTC:VFFIF) today announced that their 50/50 joint venture for
large-scale, low-cost, high-quality cannabis production, Pure Sunfarms,
has received its cannabis sales license from Health Canada. Pure
Sunfarms is now permitted to immediately begin selling product from its
expanding inventory of high-quality dried cannabis, including to Emerald
Health Therapeutics, under their previously announced supply agreement,
as well as to address significant demand from other licensed producers.
This sales license also positions Pure Sunfarms to secure supply
agreements with provincial government distributors for the imminent
legal adult-use marketplace.
“Pure Sunfarms
continues to achieve its milestones on or ahead of schedule, and has
transformed the Delta 3 facility from growing and selling tomatoes to
growing and selling cannabis in just seven months,” said Michael
DeGiglio, CEO, Village Farms. “Pure Sunfarms’ near-term objective is to
maximize the profitability of its expanding production capacity during
what is expected to be an initial period of short supply when adult
cannabis use becomes legal in Canada on October 17, 2018. Pure Sunfarms
will become a vertically integrated supplier and, with this sales
license in place, will aggressively move forward with its product
development and branding strategies.”
“Pure
Sunfarms is moving at remarkable speed to become a significant cannabis
supplier and, with our high operational quality standards, we achieved a
very rapid turnaround on this license. We greatly appreciate Health
Canada’s timely responses to all of our submissions,” said Chris Wagner,
CEO, Emerald Health Therapeutics. “With access to established wholesale
and provincial agreements and the prospect of similar additional
agreements in the near-term, Pure Sunfarms is well prepared for a rapid
sales ramp-up in the coming quarters. This will drive value for both
Village Farms and Emerald, as joint venture partners.”
Pure
Sunfarms initiated commercial-scale cannabis production in May of this
year and is currently utilizing 225,000 square feet of its 1.1-million
square foot Delta 3 greenhouse facility in Delta, BC, with the
expectation that the full 1.1 million square feet will be converted for
cannabis production by the end of 2018, on schedule and on budget. Upon
completion of the conversion, Pure Sunfarms’ Delta 3 facility will be
one of the single largest cannabis growing facilities in the world.
About Village Farms International, Inc.
Village
Farms International, Inc. is one of the largest and longest-operating
vertically integrated greenhouse growers in North America and the only
publicly traded greenhouse produce company in Canada. With more than 750
years of accumulated master grower experience coupled with advanced
proprietary technology and environmentally sustainable growing
practices, Village Farms is highly resource efficient. Village Farms
produces and distributes fresh, premium-quality produce with consistency
365-days a year to national grocers in the U.S. and Canada from its
large-scale Controlled Environment Agriculture (CEA) greenhouses in
British Columbia and Texas, as well as from its partner greenhouses in
BC, Ontario, and Mexico.
About Emerald Health Therapeutics, Inc.
Emerald
Health Therapeutics (TSX-V: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 fully legalized
Canadian adult-use cannabis market starting October 17, 2018. Emerald
owns 50% of Pure Sunfarms, which is converting a licensed existing 1.1
million square foot (25 acres) greenhouse in Delta, BC, and is in
commercial production. It also wholly owns Agro-Biotech, a
Montreal-based licensed cannabis grower with a 75,000 square foot indoor
facility and is planning to add a 500,000 square foot wholly owned
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. Emerald is part of the Emerald Health group,
which is broadly focused on developing pharmaceutical, botanical, and
nutraceutical products that provide wellness benefits to people through
interacting with the human body’s endocannabinoid system.
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