Trash to the 9th
Emerald Health Therapeutics and Skye Bioscience Announce Intended Closing Date of Plan of Arrangement
Skye will continue to pursue Canadian Securities Exchange listing following closing of transaction
VANCOUVER, BC, November 7, 2022– Emerald Health Therapeutics, Inc. ("Emerald" or the "Company") (CSE: EMH; OTCQB: EMHTF) and Skye Bioscience, Inc. (“Skye”) (OTCQB: SKYE) announced today that they intend to close the previously announced Plan of Arrangement (“Arrangement”) on or about November 10, 2022, and that they waived the condition that Skye obtain a conditional approval to list its shares on the Canadian Securities Exchange (“CSE”) prior to closing the Arrangement.
After careful consideration, each of the Company and Skye determined that closing the transaction at this time was in their mutual best interest. The closing of the Arrangement will, among other things, result in the Company’s shareholders receiving their shares of Skye under the Arrangement and will allow the Company to complete the sale of its remaining cannabis assets and create funds to be utilized in Skye’s Phase 1 clinical trial, which is expected to begin before the end of 2022. Although the conditional listing requirement has been waived, Skye has covenanted that it will use its best efforts to obtain the listing of its shares on the CSE as soon as possible. The Skye listing application was submitted to the CSE on August 31, 2022 and is currently under review.
Emerald recommends that shareholders holding their shares in registered accounts seek tax advice prior to the closing of the Arrangement with respect to the tax consequences of the Arrangement closing prior to the listing of Skye’s shares on the CSE.
Please visit www.emeraldhealth.ca for more information or contact:
Jim Heppell, Chairman
1(800) 757 3536 Ext. #5
Emerald Investor Relations
1 (800) 757 3536 Ext. #5
invest@emeraldhealth.ca
