Non-Psychoactive CBD a Major Growth Opportunity for EmeraldEmerald Health Therapeutics, Inc. recently announced that it has agreed to purchase from Emerald Health Hemp Inc. 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 and
Prince 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 Emerald's 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.
"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 and softgel encapsulation facility in Canada to produce value-added products to serve this market," said
Chris Wagner, Chief Executive Officer 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."
https://globenewswire.com/news-release/2018/09/26/1576307/0/en/Emerald-Health-Therapeutics-Secures-Long-term-Supply-of-Hemp-for-CBD-Extraction.html