Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) is up 50% over the last 30 days as the company launches their Saint-Eustache facility that will grow medical and recreational cannabis. EMHTF put $100 million into the 88,000 square-foot facility that will house modern, indoor cultivation rooms and even automated packaging operations. The facility is scheduled to bring 140 jobs to Saint-Eustache located in Western Quebec.
“This investment will enable us to produce quality cannabis products adhering to our high growing and processing standards,” said Thierry Schmidt, President of Verdélite Sciences. “Verdélite will be synonymous with differentiated and value-added cannabis products, and we are pleased to see the level of industry skill and enthusiasm coming from the Saint-Eustache community and the local interest and support to help contribute to our success.”
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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The facility in Quebec will also be outfitted for edible cannabis products, which is obviously going to be a huge market in Canada once it goes legal.
“We’re delighted to see our Québec-based Saint-Eustache facility coming online and adding to our capability to deliver high quality adult-use and medical cannabis products,” said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. “The Verdélite team has been working tirelessly to bring to fruition one of the core assets in Emerald’s national and international development strategy.”
Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) has a market cap of 430.827M with a float of 97.91M. The company has a solid amount of working capital and they are really looking globally for 2019 and beyond, but this Quebec facility will put them on the map and allow them to compete in the Quebec regions with the likes of Hexo Corp. and other big names. 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.