VANCOUVER, British Columbia, Sept. 04, 2019 (GLOBE NEWSWIRE) — Emerald Wellness Therapeutics, Inc. (“Emerald”) (TSXV: EMH OTCQX: EMHTF) announced that its 50%-owned joint venture for significant-scale, low-expense, higher-top quality cannabis production, Pure Sunfarms (PSF), has entered into a provide agreement with the British Columbia Liquor Distribution Branch (BCLDB) to provide Pure Sunfarms-branded cannabis goods for the recreational industry in the Province of British Columbia.
Pure Sunfarms will commence shipping to the BCLDB and the Ontario Cannabis Retail Corporation (the “OCRC,” operating as the Ontario Cannabis Shop) as quickly as it receives its Wellness Canada license amendment permitting sales and distribution of packaged cannabis goods straight to provincial/territorial wholesalers and authorized private retailers in accordance with the provincial/territorial framework in Canada. Pure Sunfarms entered into a provide agreement with the OCRC in February 2019. Pure Sunfarms also continues to advance discussions with other provincial distributors for prospective provide agreements.
“The announcement of today’s provide agreement with the BCLDB represents a big milestone for Pure Sunfarms,” stated Mandesh Dosanjh, President and Chief Executive Officer, Pure Sunfarms. “We are proudly B.C.-primarily based, cultivating cannabis to the highest requirements by the most knowledgeable growers in the sector, and appear forward to getting Pure Sunfarms item readily available in our dwelling province.”
“With a single of the biggest and most effective cultivation operations in complete production in Canada, Pure Sunfarms is ready to begin promoting its branded cannabis goods straight into retail channels and consumers’ hands,” stated Riaz Bandali, Chief Executive Officer of Emerald. “Supply agreements with two of the biggest Canadian provinces supplies a robust foundation on which to begin constructing brand recognition across the nation and to continue constructing on its robust sales to date.”
About Emerald Wellness Therapeutics, Inc.
Emerald Wellness Therapeutics, Inc. is a Canadian licensed producer of cannabis goods, with strategic initiatives focused on differentiated, worth-added item improvement for healthcare and adult-use shoppers supported by novel intellectual house, significant-scale cultivation, extraction, and soft gel encapsulation, as nicely as exclusive advertising and distribution channels. Its 50%-owned Pure Sunfarms operation in British Columbia has reached its complete run-price annual production of around 75,000 kg in its initially 1.1 million square-foot greenhouse Delta three operation its second 1.1 million square-foot greenhouse is planned to be in complete production by the finish of 2020. Emerald’s two wholly-owned facilities in Quebec, a higher-top quality indoor developing and processing facility, and in British Columbia, an organic greenhouse and outside operation, are finishing building and are operating toward final licensing extension. Emerald has also contracted for around 1,200 acres of hemp annually in 2019 to 2022 with the objective of extracting low-expense CBD. Its group is very knowledgeable in life sciences, item improvement, significant-scale agri-enterprise, and advertising.
For additional facts or make contact with:
Rob Hill, Chief Monetary Officer
(800) 757 3536 Ext. # five
Emerald Investor Relations
(800) 757 3536 Ext. #five
Neither the TSX Venture Exchange nor its Regulation Solutions Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts duty for the adequacy or accuracy of this release.
Cautionary Note Relating to Forward-Seeking Statements: Specific statements produced in this press release that are not historical details are forward-hunting statements and are topic to critical dangers, uncertainties and assumptions, each basic and particular, which give rise to the possibility that actual final results or events could differ materially from our expectations expressed in or implied by such forward-hunting statements. Such statements involve getting expected regulatory approvals production and processing capacity of different facilities expansion of facilities getting further cultivation licenses and other permits production at different facilities receipt of hemp deliveries getting into into of strategic agreements payments of amounts owed to and owed by Emerald transplanting crops getting final municipal approvals assessment of cultivation and harvesting tactics scale up of trusted, top quality low-expense cannabis and anticipated production expenses.
We can’t assure that any forward-hunting statement will materialize, and readers are cautioned not to spot undue reliance on these forward-hunting statements. These forward-hunting statements involve dangers and uncertainties connected to, amongst other issues, modifications of law and regulations modifications of government failure to get regulatory approvals or permits failure to get essential financing final results of production and sale activities final results of scientific study regulatory modifications modifications in costs and expenses of inputs demand for labour demand for goods failure of counter-parties to execute contractual obligations as nicely as the danger elements described in the Company’s annual facts kind and other regulatory filings. The forward-hunting statements contained in this press release represent our expectations as of the date hereof. Forward-hunting statements are presented for the goal of delivering facts about management’s existing expectations and plans and permitting investors and other people to get a greater understanding of our anticipated operating atmosphere. Readers are cautioned that such facts could not be proper for other purposes. The Business undertakes no obligations to update or revise such statements to reflect new situations or unanticipated events as they happen, unless expected by applicable law.
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