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Emerald Health Therapeutics Inc EMHTF

Emerald is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis products with an emphasis on innovation and production excellence.


OTCQB:EMHTF - Post by User

Post by cannhealthon Sep 26, 2018 12:36pm
108 Views
Post# 28693865

Today's News in Full

Today's News in Full
Emerald Health Therapeutics Secures Long-term Supply of Hemp for CBD Extraction Emerald to leverage low-cost CBD supply, and large scale extraction and softgel encapsulation facility VICTORIA, British Columbia, September 26, 2018 Emerald Health Therapeutics, Inc. (TSXV:EMH; OTCQX:EMHTF) (Emerald) has agreed to purchase from Emerald Health Hemp Inc. (EHH) CBD-containing hemp biomass for extraction into CBD oil. EHH has established agreements to purchase approximately 500 acres of harvested hemp chaff, plant material consisting mainly of flower and leaf,in Manitoba andPrince Edward Island in 2018, with a plan to expand field operations in 2019. Emerald has signed an agreement with EHH to purchase approximately 500 acres of chaff in 2018 and approximately 1,000 acres in 2019 to 2022, with an option to renew for an additional two-year period. The hemp chaff will be processed via Emeralds exclusive alliance with Factors R&D Technologies Ltd., a division of Factors Group of Nutritional Companies Inc., which has extensive extraction experience and large capacity. In conjunction with Bill C-45, Health Canada recently issued an exemption to holders of Industrial Hemp licenses to begin collecting, drying, storing and transporting the chaff of hemp. After October 17, farmers will be able to sell hemp chaff to licensedprocessors under Bill C-45. We see non-smoked, non-psychoactive CBD consumption as a major growth opportunity in both the medical and adult-use market in Canada, and our Factors Group alliance uniquely positions us with the largest biomass extraction andsoftgel encapsulation facility in Canada to produce value-added products to serve this market, said Chris Wagner, CEO of Emerald. Our intent is to secure significant low-cost cannabinoid supply to serve all our manufacturing and marketing goals and hemp is expected to be our lowest cost source of CBD. We are very pleased with the rapid advancement of our Pure Sunfarms production joint venture with Village Farms and our St. Eustache facility in Quebec. Our collaboration with Emerald Health Hemp now expands our ability to produce CBD products. Canada is one of the largestproducers of hemp in the world and with Bill C-45 the value of hemp will continue to grow, said the Honourable Robert L. Henderson, Minister of Agriculture and Fisheries for the Province of Prince Edward Island. I am pleased that farmers in Prince Edward Island are embracing the commercial opportunities that this plant brings to the region with the investment and assistance of businesses like Emerald. We will encourage and support our farmers as this industrymatures, while continuing to implement appropriate policies in ourProvince toprotect the public health and safety of our citizens. Emerald is finalizing the terms of an exclusive arrangement with Factors R&D Technologies Ltd. (FTI) to initially provide Emerald with access to a facility with operating extraction infrastructure capable of up to 1 million kg of biomass processing and 600 millionsoftgel capsule production capacity annually. Apart from providing pharmaceutical-grade, industrial-scale manufacturing and expertise, the plan for this collaboration is to also leverage the Factors Groups decades of experience in product development, formulation and innovation. FTI is a division of Factors Group of Nutritional Companies Inc., Canadas largest nutritional supplement marketer and manufacturer, and has over 1 million square feet of production facilities, R&D, and quality control laboratories and distributioncentres. Factors Group has established deep roots and relationships in Canada and worldwide in the nutrition industry and sells its products under multiple brands. EHH is a wholly owned subsidiary of Emerald Health Sciences, which also owns approximately 32% of the issued and outstanding shares of Emerald Health Therapeutics, Inc.
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