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 big-scale, low-price, higher-good 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 items for the recreational market place in the Province of British Columbia.
Pure Sunfarms will start 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 items 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 significant 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 seasoned growers in the business, and appear forward to possessing Pure Sunfarms item offered in our residence province.”
“With 1 of the biggest and most effective cultivation operations in complete production in Canada, Pure Sunfarms is ready to begin promoting its branded cannabis items 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 powerful foundation on which to begin constructing brand recognition across the nation and to continue constructing on its powerful sales to date.”
About Emerald Wellness Therapeutics, Inc.
Emerald Wellness Therapeutics, Inc. is a Canadian licensed producer of cannabis items, with strategic initiatives focused on differentiated, worth-added item improvement for healthcare and adult-use shoppers supported by novel intellectual house, big-scale cultivation, extraction, and soft gel encapsulation, as properly as one of a kind marketing and advertising and distribution channels. Its 50%-owned Pure Sunfarms operation in British Columbia has reached its complete run-price annual production of about 75,000 kg in its 1st 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-good quality indoor increasing 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 about 1,200 acres of hemp annually in 2019 to 2022 with the objective of extracting low-price CBD. Its group is extremely seasoned in life sciences, item improvement, big-scale agri-business enterprise, and marketing and advertising.
For additional data or get in touch 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 Concerning Forward-Searching Statements: Particular statements produced in this press release that are not historical details are forward-seeking statements and are topic to essential dangers, uncertainties and assumptions, each basic and distinct, which give rise to the possibility that actual benefits or events could differ materially from our expectations expressed in or implied by such forward-seeking statements. Such statements involve getting needed regulatory approvals production and processing capacity of numerous facilities expansion of facilities getting more cultivation licenses and other permits production at numerous 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, good quality low-price cannabis and anticipated production expenses.
We can’t assure that any forward-seeking statement will materialize, and readers are cautioned not to location undue reliance on these forward-seeking statements. These forward-seeking statements involve dangers and uncertainties associated to, amongst other issues, modifications of law and regulations modifications of government failure to get regulatory approvals or permits failure to get important financing benefits of production and sale activities benefits of scientific analysis regulatory modifications modifications in rates and expenses of inputs demand for labour demand for items failure of counter-parties to carry out contractual obligations as properly as the danger aspects described in the Company’s annual data type and other regulatory filings. The forward-seeking statements contained in this press release represent our expectations as of the date hereof. Forward-seeking statements are presented for the objective of giving data about management’s present expectations and plans and enabling investors and other folks to get a improved understanding of our anticipated operating atmosphere. Readers are cautioned that such data may possibly not be acceptable for other purposes. The Organization undertakes no obligations to update or revise such statements to reflect new situations or unanticipated events as they take place, unless needed by applicable law.
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