Emerald Health Therapeutics, Inc. Acquires Shares of Vanc Pharmaceuticals Inc.
29 November 2017 - 11:00PM
Emerald Health Therapeutics, Inc.
(TSX-V:EMH) (OTCQX:EMHTF)
("Emerald" or the
“Company”) announces that it acquired today
1,666,6667 units (the “Units”) of Vanc Pharmaceuticals Inc.
(“Vanc”) of Suite 810 - 789 West Pender Street, Vancouver, British
Columbia, V6C 1H2 at a price of $0.15 per Unit pursuant to a
private placement offering (the
“
Transaction”). Each Unit
consists of one common share of Vanc (a
“
Share”) and one common share
purchase warrant. Each whole warrant entitles the holder thereof to
purchase one additional Share for a period of 60 months at an
exercise price of $0.20.
Immediately before the Transaction, the Company
had ownership of nil Shares. Following the Transaction, the Company
held ownership of 1,666,667 Shares representing approximately 6.51%
of the issued and outstanding Shares. The Company also holds
1,666,667 share purchase warrants for the purchase of an additional
1,666,667 Shares. Assuming the exercise of the warrants, the
Company would own a total of 3,333,334 Shares, or approximately
12.23% of Vanc’s then issued and outstanding share capital assuming
no other Shares are issued.
Emerald acquired the Units for investment
purposes. The Company may sell its Shares either on the open market
or through private dispositions in the future depending on market
conditions, reformulation of plans and/or other relevant
factors.
This news release is being issued pursuant to
Part 3 of National Instrument 62-103 The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues of the Canadian
Securities Administrators. A copy of the report filed by Emerald in
connection with the acquisition of the Units is available on Vanc’s
SEDAR profile, and it can also be obtained directly from the
Company.
About Emerald Health Therapeutics,
Inc.
Emerald Health Therapeutics, Inc. (TSX-V:EMH)
(OTCQX:EMHTF) operates through Emerald Health Botanicals Inc.
(“Botanicals”), a wholly owned subsidiary and Licensed Producer
under Canada’s Access to Cannabis for Medical Purposes Regulations.
Botanicals is authorized to produce and sell dried medical cannabis
flower and medical cannabis oil. It currently operates an indoor
facility in Victoria, BC, and is building a 150,000 s.f. hybrid
greenhouse on 32 acres in Metro Vancouver, with the potential to
expand this facility to 1 million s.f. to address the needs of the
legal Canadian recreational cannabis market. Botanicals has also
entered into a partnership with Village Farms to convert an
existing 1.1 million s.f. greenhouse in Delta, BC from growing
tomatoes to growing cannabis. Emerald’s team is highly experienced
in life sciences, product development and large-scale agribusiness.
Emerald and Botanicals are part of the Emerald Health group, which
is broadly focused on developing pharmaceutical, botanical and
nutraceutical products designed to provide wellness and medical
benefits through interacting with the human body’s endocannabinoid
system.
For investor and media contacts:
invest@emerald.care
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Statements Regarding
Forward Looking Information
Certain statements in this press release
constitute forward-looking statements, within the meaning of
applicable securities laws. All statements that are not historical
facts, including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance, are
"forward-looking statements".
We caution you that such "forward-looking
statements" involve known and unknown risks and uncertainties that
could cause actual and future events to differ materially from
those anticipated in such statements.
Forward-looking statements include, but are not
limited to, statements with respect to expansion of Emerald’s
business; creation of strategic development opportunities;
commercial operations; construction or conversion of production
facilities; international opportunities for the Company; the
Company becoming a leading Canadian supplier of cannabis products;
expected timing of any of the above matters; and other information
that is based on forecasts of future results, estimates of amounts
not yet determinable and assumptions of management.
Emerald Health Therapeutics Inc. does not
intend, and does not assume any obligation, to update these
forward-looking statements except as required by law. These
forward-looking statements involve risks and uncertainties relating
to, among other things, failure to obtain regulatory approval for
closing of the proposed transaction or to meet the conditions set
out in the Agreement; failure of the federal government to approve
legislation legalizing sales of non-therapeutic adult-use cannabis;
failure to obtain Health Canada and other regulatory approvals;
failure to obtain necessary financing; results of production and
sale activities; the Company's historical experience with medical
marijuana operations; results of scientific research; uninsured
risks; regulatory changes; difficulties in construction or in
obtaining qualified contractors to complete construction or
conversion of facilities; availability of production facilities;
timeliness of government approvals and the granting of permits and
licenses; changes in prices and costs; actual operating and
financial performance of facilities; equipment and processes
relative to specifications and expectations; as well as the other
risk factors set out in the Company’s annual information form and
other filings with the applicable Canadian securities regulators,
which may be viewed at www.sedar.com. Actual results may differ
materially from those expressed or implied by such forward-looking
statements.
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