(Image Credit - Nick Youngson)
This morning, Emerald Health Therapeutics (TSXV:EMH)(OTC:TBQBF) released an update on their recent developments. Here's some of the highlights.
Emerald Health has entered into an agreement to lease 32 acres in Metro Vancouver for 30 years. The company has commenced construction on a 50,000 sq. ft. cultivation facility that is expected to be able to grow more than 5,000 kg of flower per year. Because Emerald is already licensed at a different facility, they expect to be able to 'rapidly advance through the new licensing process' and have product for ready for sale ahead of Canadian recreational legalization.
Emerald Health also recently announced the creation of a joint venture with vertically integrated greenhouse produce grower, Village Farms Inc. (TSX:VFF). Village Farms has contributed a 1.1 million sq. ft. greenhouse facility that is currently being used to produce tomatoes, while Emerald Health has committed $20 million CAD in funding. Emerald Health has started the Health Canada application process to license a portion of the facility and has already begun converting part of the greenhouse for cannabis cultivation.
Emerald recently formed an advisory board to provide strategic guidance to the company in regard to clinical trials, observational studies and the development of pharmaceutical formulations.
The company is also working to expand its extracts business (a rapidly growing part of the cannabis space) by expanding both processing capacity (through Village Farms joint venture which will provide both space and raw materials) and research and development activities. Emerald believes that the next wave of growth will come from consistent, pharmaceutical grade formulations that have been tested in clinical trials and shown effective.
In early trading Thursday, shares of Emerald Health Therapeutics are up roughly 1% on the TSX Venture. The company's OTC Markets symbol is up nearly 2%. Year to date, shares of Emerald Health Therapeutics are down roughly 9%.
View a custom stock chart and more recent news from the company by checking out Emerald Health Therapeutics' marijuana stock profile in The Daily Marijuana Observer's Canadian L.P. database.
Also, be sure to subscribe to The Daily Marijuana Observer's Canadian L.P. newsletter, so you never miss an important update from one of Canada's 50 LPs.
Don't forget to connect with The Daily Marijuana Observer on Facebook, Twitter and Instagram.
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.