Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) completed the supply of cannabis Yukon Liquor Corporation fulfilling the first purchase order. The company also inked supply accords with Saskatchewan Liquor and Gaming Authority and Alberta Gaming, Liquor, and Cannabis. The company is expected to begin shipments of cannabis to Saskatchewan and Alberta in April 2019.
Executive Chairman and President of Emerald, Dr. Avtar Dhillon said the company is pleased to supply Emerald branded cannabis products for adult use Saskatchewan and Alberta and Yukon. With the latest supply accords, the company supplies cannabis products to one territory and five provinces in Canada and becomes a reliable supplier for recreational use.
As per the latest reports, Emerald is fulfilling the supply of cannabis in time in Labrador, Newfoundland, British Columbia, and Ontario. To increase the footprint, the company is exploring supply accords for recreational use of cannabis in other provinces.
Cannabis from Verdélite indoor facility
The company is fulfilling the cannabis supply from Pure Sunfarms and Verdélite indoor facility based in Saint Eustache, Québec. Emerald owns 50% stake in Pure Sunfarms, which has obtained a license to cultivate cannabis on 1.03 million Sq. ft. The company is putting in efforts to expand the production of cannabis by enhancing volume of outdoor, indoor and greenhouse grown cannabis. It also purchased harvested hemp on 500 acres in 2018. Emerald is planning to acquire additional harvested hemp on 1000 acres in 2019.
ATM Program for working capital
Emerald established an ATM Program (At-The-Market Equity Program) to mobilize funds of up to $39 million by issuing common shares. The ATM Program will be effective up to April 13, 2021. The company will activate this program when a need arises for capital expenditure and working capital.
Emerald applauded the proposed amendment in excise tax calculation in the federal budget for cannabis. The proposed revision allows computing excise duty for hemp and ingestible cannabis products considering THC quantity than based on volume of the products. It also paves for lower tax on products with low THC content. Therefore, the proposed amendment offers additional tax relief for medical use of cannabis by individuals. Emerald is expected to improve margins on medical cannabis products.
Auxly Cannabis Group Inc. (OTCMKTS:CBWTF) has provided its Q4 and FY2018 financial results as well as…
Curaleaf Holdings Inc (OTCMKTS:CURLF) has entered a pact to take over Nevada based Cannabis cultivation,…
Marimed Inc (OTCMKTS:MRMD) has signed an exclusive distribution accord with Ilo Vapor. As per the terms…
Hexo Corp (NYSEAMERICAN:HEXO) recently announced that it secured a deal to acquire Toronto-based Newstrike…
Published at Mon, 01 Apr 2019 12:01:59 +0000