Emerald Health Therapeutics, Inc. (TSXV:EMH), one of the Canadian marijuana stocks, said it has received Health Canada’s Standard Processing License for its Québec facility
SmallCapPower| April 10, 2019: Emerald Health Therapeutics, Inc. (TSXV:EMH), one of the Canadian cannabis stocks, Monday announced that its Québec facility, Verdélite, has received Health Canada’s Standard Processing License. Through this license Verdélite now will be allowed to extract, manufacture, synthesize, test and sell next-generation cannabis products along with cultivating and selling cannabis flowers. This will strengthen Verdélite’s position in the Canadian cannabis market once the country legalizes edibles, topicals and extracts as early as October 2019. Verdélite will also be allowed to build and operate a R&D laboratory for cannabis-based products. Receipt of a standard processing license for its Verdélite facility in Quebec marks the third processing license issued to Emerald Health by Health Canada.
Verdélite President Thierry Schmidt said, “The ability to carry out research and development on cannabis, and to extract cannabinoids and manufacture next-generation cannabis products are important steps forward for Verdélite. This processing license will allow us to develop and offer a wide-range of high-quality cannabis products, advance Verdélite and Emerald brands, and to serve recreational and medicinal consumers in Quebec and throughout Canada.”
Emerald Health Therapeutics is a licensed producer of cannabis in Canada, focused on developing proprietary, value-added cannabis products for medical and adult-use customers. The Company’s 50% joint venture in British Columbia, Pure Sunfarms, has a license to cultivate in 1.03 million sq. ft. of the first of its two 1.1 million sq. ft. greenhouses, with each greenhouse having an estimated annual capacity of over 75,000 kg. Furthermore, Emerald’s Verdélite operation is completing the construction of its 88,000 sq.ft. indoor cultivation facility and is scaling up production. The Company has secured over 500 acres of hemp harvest in 2018 and has contracted for ~1000 acres in 2019 to 2022.
Shares of Emerald Health Therapeutics edged down $0.02 to $4.26 on Monday followed by a nearly 4% gain on Tuesday.
Emerald Health Therapeutics stock currently trades at a market capitalization of C$631 million with a price-to-book multiple of 3.4x.
Disclosure: Neither the author nor his family own shares in any of the company mentioned above.
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