VICTORIA, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) has announced that in accordance with TSX Venture Exchange Policy 2.5, the Company has met the requirements for and been upgraded to a Tier 1 company.
The TSX Venture Exchange classifies issuers as “Tier 1” or “Tier 2” based on standards regarding historical financial performance, stage of development, and financial resources. Tier 1 is the highest tier of the TSX-V and is reserved for more advanced issuers with greater financial resources. Tier 1 issuers benefit from less stringent filing requirements.
“Our team has been working diligently to meet our stated cannabis production scaling objectives, progress our product innovation strategy, and advance a differentiating marketing plan. In conjunction with these efforts our valuation and financial resources have been increasing and we are pleased that our accomplishments have allowed us to attain a higher listing status on the TSX Venture Exchange,” said Chris Wagner, CEO of Emerald Health Therapeutics.
About Emerald Health Therapeutics
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned subsidiary and Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms Inc., a partnership with Village Farms International Inc. that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information or contact:
Robert Hill, CFO
(800) 757 3536 Ext. #722
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, expansion of Emerald’s business; creation of strategic development opportunities; commercial operations; construction or conversion of production facilities; expected timing of any of the above matters; and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
The parties do not intend, and do not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure of the federal government to approve legislation legalizing sales of non-therapeutic adult-use cannabis; failure to obtain Health Canada and other regulatory approvals; failure to obtain necessary financing; results of production and sale activities; Emerald’s 's historical experience with medical marijuana operations; results of scientific research; uninsured risks; regulatory changes; difficulties in construction or in obtaining qualified contractors to complete construction or conversion of facilities; availability of production facilities; timeliness of government approvals and the granting of permits and licenses; changes in prices and costs; actual operating and financial performance of facilities; equipment and processes relative to specifications and expectations; as well as the other risk factors set out in Emerald’s ’s annual information form and other filings with the applicable Canadian securities regulators, which may be viewed at www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.