Emerald Health Therapeutics (OTCQX: EMHTF) JV Receives License for 1.1M Sq. Ft. Greenhouse
Emerald Health Therapeutics (OTCQX: EMHTF) announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has received a Standard Processing License (the “Processing License”) from Health Canada for its 1.1 million square foot Delta 3 greenhouse facility.
Why It Matters: The Processing License permits Pure Sunfarms to extract and process cannabis at its Delta 3 facility, which will enable the development and manufacture of products derived from cannabis, including oils, other concentrates, and edibles. Pure Sunfarms will require an additional amendment to its sales license to sell cannabis oil, which it expects to be distributing to provincial/territorial distributors and private retailers by the fourth quarter of this year.
Key Quote: “Pure Sunfarms has hit its inflection point for significant sales growth. As it continues to build on its critical mass of infrastructure and licensure, and achieves vertical integration, we believe it will increasingly be producing and selling value-added products with higher margins.” – Dr. Avtar Dhillon, President and Executive Chairman
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