Emerald Health Therapeutics has terminated certain related party agreements pertaining to its cannabis cultivation operation in Metro Vancouver. Previously existing rights and continuing usage of the land and its cultivation operation in Metro Vancouver are unaffected by these terminations.
As previously announced on October 4, 2019, Emerald entered into a sublease agreement and a cultivation agreement with Emerald Health Sciences, a control person of Emerald. Emerald and EHS have agreed to not pursue the transactions contemplated by such agreements and have agreed to terminate both the Sublease Agreement and the Cultivation Agreement. Emerald confirms that no payments were made to EHS under either the Sublease Agreement or the Cultivation Agreement. Emerald's previously existing rights related to the 12-acre land parcel that was subject to the Sublease Agreement and Cultivation Agreement are unaffected by these terminations.
For more information:
Emerald Health Therapeutics
emeraldhealth.ca