EMERALD HEALTH THE (OTCMKTS:EMHTF) is receiving more attention this week. EMHTF is up over 200% since the start of September. The cannabis company has added an extra 12% in early trading today and with hot press on the line that could climb.
EMHTF’s recent Pure Sunfarms cultivation space expansion has been getting a lot of attention in light of the legalization in Canada, not to mention the facility expansion is growing an unprecedented one million square feet. “As with Health Canada’s fast paper-based review of our Pure Sunfarms facility, we appreciate their quick preliminary review of our licensed producer application for Emerald Health’s fourth site,” said CEO Chris Wagner in a recent press release. “With significant, secure supply from our large-scale Pure Sunfarms partnership and Emerald facilities, and our value-added product development plans, we intend to be well positioned for growth in the adult use market.”
EMERALD HEALTH THE (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, “, Inc. (TSXV:EMH) (OTCQX: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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The new facility will consist of two 75,000 square foot modules of hybrid indoor-greenhouse space expected to be completed by summer 2018. By the end of 2018, management anticipates expanding the facility to a total of over 500,000 square feet of cultivation space with corporate offices and additional space for extraction of oils and processes to create other value-added products. Situated on a 32-acre site, this facility can be expanded to one million square feet.
“Partnering with Village Farms, one of North America’s largest and most efficient greenhouse growers, on this tremendous opportunity, is a very exciting development for Emerald,” said Executive Chairman Avtar Dhillon, MD, in a press release at the time. “Village Farms is a global leader in greenhouse growing and, importantly, an expert in the complex matter of safety for agricultural consumables.”
Holding a market cap of $189.62M, EMHTF is still pre-revenue but has been garnering some serious attention and piling on market cap to boot. This is an exciting story and we will be giving readers as an update as more information comes to light. 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.