Emerald Health Therapeutics has received from Health Canada its cultivation license amendment and has full municipal permitting for its first of two 78,000 square foot greenhouses at its organic Metro Vancouver site in British Columbia. "With an additional 50,000 square feet and seven grow areas licensed for cultivation-related activities, Emerald can now begin commercial greenhouse production at this site," the team with the company explains. "Planting will begin immediately and is expected to be completed by the end of Q4, with the first harvests planned for January 2020."
"This second license amendment builds on the initial site license, received in June of this year, used to propagate premium organic plant stock for this site, as well as the first amendment, received in July of this year, which added 12 acres of outdoor cultivation area. Emerald capitalized on the outdoor growing season with one growing cycle for research and development purposes and to enhance planning for the full 2020 outdoor growing season. All indoor and outdoor operations to-date have been focused on facilitating organic certification, which, pursuant to an initial inspection that took place in September, is expected imminently."
“With planting starting now, the Metro Vancouver organic operation is well positioned to be a significant contributor to Emerald's financial results in 2020,” said Riaz Bandali, Chief Executive Officer of Emerald. “Last week’s announcement of our Québec premium craft product indoor cultivation site becoming fully licensed and now receipt of our license expansion at our organic Metro Vancouver site represent key milestones in Emerald’s business plan. These differentiated operating assets and their products will complement and build on our Pure Sunfarms joint venture with its extremely competitive cost structure and products, and they represent an additional source of revenue, profit, and cash flow growth for Emerald.”
The Metro Vancouver organic site encompasses 156,000 square feet in two greenhouses as well as 12 acres (~500,000 square feet) of licensed outdoor cultivation area. The first outdoor cannabis crop was harvested recently and Emerald also secured the harvest from an adjacent 12 acres of outdoor grow area. In this outdoor initiative, the company assessed the viability of select genetics for BC greenhouse and outdoor climates. This genetic development program has produced several new phenotypes, which will lead to greater differentiation in Emerald’s product offerings.
Emerald will commission the second greenhouse at its Metro Vancouver site as it more fully analyzes market preferences for the diverse products from its licensed and operational grow infrastructure at its Pure Sunfarms joint venture, Metro Vancouver, and Verdélite. Together these three operations position the Company to play a significant role in the growing Canadian medical and adult use markets.
Emerald has substantially completed its capital outlays for the Metro Vancouver site, as well as for its Quebec Verdélite operation.
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