CSE / TSX
Emerald Health Therapeutics Inc. (OTCMKTS:TBQBF) Updates On Latest Development
Emerald Health Therapeutics Inc (CVE:EMH) posted a corporate release on its closed and oversubscribed purchased agreement financing, and reprises its goal for 2017. Avtar Dhillon, MD, who is the Executive Chairman, mentioned that following this successful contract with Dundee Capital Partners, the firm is well capitalized and all prepared for a strong year of growth.
Headed by one of the most proficient teams, the focus remains to be on downstream offerings advancement. From the very first day, Emerald Health has followed the mandate of enhancing health through Cannabis Science and then it’s these standards that will direct them as the firm forge ahead with its aggressive and exhilarating growth plans.
As Emerald has been aiming expansion, a big part of its focus is on increasing offerings and providing plant diversity, as well as progressing on its grow, production, and regulation mechanisms in anticipation of an extensive scale up. As one of the Licensed Producer, right from the start the utmost focus has remained on grow quality against quantity supported by R&D.
The expansion plans of Phase 1 are ongoing to start in the first quarter and get more cultivation space. It will be an advanced objective built facility with predicted capacity of over 5,000 kg a year. The firm’s first harvest is anticipated in 2018 and will be prepared for sale upon licensing. Pertaining expansion of Phase II, Emerald intends to cultivate in a modular means, with addition of 50,000 square feet to lower the risk of quality concerns.
Construction on Phase II will add another production region of 50,000 square feet. It is anticipated to commence after the start of Phase 1 and will be prepared for production in upcoming year. Emerald possess the capacity to establish production space of 1 million sq. ft. on its Metro Vancouver property.