VICTORIA, British Columbia, Nov. 29, 2017 (GLOBE NEWSWIRE) -- 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.
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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.