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Saturday, November 28, 2020

One Big Reason to Have Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) Back on the Radar

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We would guess most traders tend to overlook Emerald Health Therapeutics Inc (OTCMKTS:EMHTF). This is in spite of the fact that the stock has been a momentum leader during several stretches over the past 2 years. Recent action suggests it should be back on the radar, with clear relative strength. Further bolstering that sense, the company just announced has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the Company as it significantly ramps up production and sourcing of cannabis and cannabinoid products. According to the release, Emerald products have been available in these provinces since October 31st.

“It has always been important to us to ensure we fulfill the supply commitments we made to our provincial cannabis distribution customers. We are pleased that our initial deliveries have met this obligation and that we have the ability to provide consistent and increasing contracted shipments of Emerald products,” said Paul Dillman, Emerald’s Executive VP, Global Sales & Marketing. “With proprietary market research, differentiated products based on unique plant genetics, a recognizable, trusted brand, significant marketing expertise and bandwidth, and a growing sales team across Canada, we are aiming for a significant ramp-up in sales every quarter from these initial deliveries forward.”

Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) trumpets itself as a licensed producer of medical marijuana under the Access to Cannabis for Medical Purposes Regulations, which allows the company to produce and sell medical marijuana and cannabis oils to clients and other licensed producers.

Individuals may become clients of the company by registering with the company through its secure online portal or via telephone after the individual has received a medical document signed by a licensed health care practitioner setting out the daily quantity of dried marijuana, in grams, that the practitioner authorized for the person.

According to company materials, “Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) operates through Emerald Health Botanicals Inc., a wholly owned subsidiary and Licensed Producer under the Access to Cannabis for Medical Purposes Regulations. Botanicals is authorized to produce and sell both dried medical cannabis flower and medical cannabis oil in Canada. Botanicals currently operates an indoor facility in Victoria, BC, and is progressing on expansion plans for a 32-acre property in Metro Vancouver and a partnership with Village Farms, called Pure Sunfarms, utilizing a 25-acre existing greenhouse complex in Delta, BC. Botanicals is one of Canada’s most medically focused licensed producers, with a team highly experienced in life sciences product development and large-scale agribusiness. Its vision is to be a leading provider of cannabis products through its production capabilities, proprietary genetics, value-added products and branding, and superb customer experience. Emerald Health Therapeutics is associated with the Emerald Health group, which comprises multiple companies advancing diverse botanical, nutraceutical and pharmaceutical products that may provide wellness and medical benefits by interacting with the body’s endocannabinoid system.”

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As noted above, EMHTF just announced has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the Company as it significantly ramps up production and sourcing of cannabis and cannabinoid products.

In all, the chart shows 2% tacked on to share pricing for the listing in the past week. Furthermore, the company has witnessed a pop in interest, as transaction volume levels have recently pushed 100% above its longer-run average levels.

“Emerald aims to assure its customers a secure supply of an array of products by establishing significant, diverse sources of indoor, greenhouse, and outdoor-grown cannabis and cannabinoid products. We have a strong and building foundation to achieve this goal,” said Chris Wagner, CEO at Emerald. “Our products are now available in stores and online in BC as well as Newfoundland and Labrador. Emerald is in negotiations with cannabis distribution authorities in several provinces as we continue to scale our production and sourcing efforts.”

Earning a current market cap value of $450.82M, EMHTF has a significant war chest ($72.7M) of cash on the books, which must be weighed relative to about $26.3M in total current liabilities. One should also note that debt has been growing over recent quarters. EMHTF is pulling in trailing 12-month revenues of $1.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 15.7%. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $EMHTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $EMHTF, either long or short, and we have not been compensated for this article.

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