Emerald Health Therapeutics has received its initial cultivation license from Health Canada for its new organic cannabis growing facility in Metro Vancouver, BC. "Tailor-made for Emerald to produce high-quality organic cannabis, the operation comprises two 78,000 square foot greenhouses and 12 acres (~500,000 square feet) of outdoor cultivation, with potential for an additional 12 acres," the team with the company explains. "This license permits cultivation in an initial 15,000 sq. ft. of greenhouse area. This site was purposefully designed for organic cultivation with the goal to exceed 30,000 kg of annual production, assuming licensing of the entire indoor and outdoor production area."
“Organic products appeal to many consumers, including many cannabis users, and we look forward to serving both medical and recreational consumers with our quality organic cannabis products,” said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. “We designed this new state-of-the-art facility to optimize natural light and with up-to-date energy-efficient climate control systems. We are also using select genetics from our large, proprietary genetic library that we believe are ideally suited for organic greenhouse and outdoor cultivation. With a combination of optimized infrastructure design, carefully selected genetics, and efficient operations, we expect to produce premium organic products with clearly differentiated appeal to consumers. We expect that outdoor cultivation will have a lower cost base than greenhouse production, which we anticipate will contribute to our goal of enhanced profit margins.”
According to the company, construction of the first greenhouse is complete; the second greenhouse is expected to be completed in Q4; and the first 12 acres of outdoor area is ready for planting. Production at the facility is subject to obtaining necessary municipal approvals, which Emerald is working to complete.
Emerald also reports that Punit Dhillon has received Health Canada security clearance and has been reappointed to the Company’s Board of Directors.
Emerald also announced that it has issued an aggregate of 4,850,000 incentive stock options as well as 350,000 restricted stock units (“RSUs”) to certain of its employees and directors pursuant to the Company’s Omnibus Incentive Plan. These RSUs are to be settled by the issuance of 475,000 shares. The options shall be subject to the applicable policies of the TSX Venture Exchange.
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Emerald Health Therapeutics