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Friday, December 4, 2020

Why Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) is Bigger Than You Realize

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Shares of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) have been warming up in recent weeks along with many correlated names, but the stock has been lagging the group, and the real question is about whether we are going to see “catch up” going forward or not. One positive in recent days is the push above the stock’s major moving averages and the key $3/share level.

To make matters more interesting, the company just announced the launch of Verdélite Sciences Inc., a wholly-owned, Québec-based production subsidiary licensed by Health Canada. According to the release, formerly known as Agro-Biotech, Verdélite currently produces high-grade dried cannabis for medical and adult-use purposes.

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 the launch of Verdélite Sciences Inc., a wholly-owned, Québec-based production subsidiary licensed by Health Canada. Traders will note 21% during the past month in terms of shareholder gains in the stock.

Furthermore, the listing has registered increased average transaction volume recently, with the past month seeing 57% above its longer-run average levels.

“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.”

Earning a current market cap value of $425.19M, EMHTF has a significant war chest ($52.9M) of cash on the books, which must be weighed relative to about $30.7M 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 $1.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 51.9%. We will update the story again as soon as developments 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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