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Saturday, November 28, 2020

How Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) Could Put Shorts Back on the Run

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Shares of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) have been coiling up in front of a fresh potential breakout with a bullish chart trigger sitting ripe on the vine in the $3.50/share area. Helping to drive the action, the company just announced that its Québec facility, Verdélite, has received its Standard Processing License from Health Canada.

According to the release, “This license means that, in addition to Verdélite’s right to cultivate and sell cannabis flowers, it can now extract, manufacture, synthesize, test and sell next-generation cannabis products and will position Verdélite to launch these products in conjunction with the expected legalization of a broader spectrum of cannabis products in Canada in October 2019. The license also allows Verdélite to build and operate a laboratory for research and development of cannabis-based products.”

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 that its Québec facility, Verdélite, has received its Standard Processing License from Health Canada.

Recent action has seen mild upside added to values for shareholders of the stock during the trailing month. Moreover, the listing has registered increased average transaction volume recently, with the past month seeing 13% above the average volume levels in play in this stock over the longer term.

“The ability to carry out research and development on cannabis, and to extract cannabinoids and manufacture next-generation cannabis products are important steps forward for Verdélite,” said Thierry Schmidt, President of Verdélite. “This processing license will allow us to develop and offer a wide-range of high-quality cannabis products, advance Verdélite and Emerald brands, and to serve recreational and medicinal consumers in Quebec and throughout Canada.”

Earning a current market cap value of $440.6M, 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%. This may be a very interesting story and we will look forward to updating it again soon. 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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