Emerald Health Therapeutics Welcomes Historic Passing of Bill C-45 to Legalize Adult-Use Cannabis in Canada
VICTORIA, British Columbia, June 19, 2018 (GLOBE NEWSWIRE) -- 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.
Please visit www.emeraldhealth.ca for more information or contact:
Rob Hill, Chief Financial Officer, Emerald
(800) 757 3536 Ext. #5
Ray Lagace, Investor Relations Manager, Emerald
(800) 757 3536 Ext. #5
invest@emeraldhealth.ca
John Bowes, Media Relations, DDB Public Relations
416-529-5775
john.bowes@can.ddbpr.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include legalization of non-medicinal cannabis; production capacity of various facilities; expansion of facilities; and anticipated production costs.
We cannot guarantee that any forward-looking statement will materialize and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, failure to obtain regulatory approvals; failure to obtain necessary financing; results of production and sale activities; results of scientific research; regulatory changes; changes in prices and costs of inputs; demand for labour; demand for products; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
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