Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) has truly been one of the most extraordinary stories on the OTC over recent months. This is true perhaps simply because this is a dramatic outperformer that hasn’t mentioned the word “blockchain” in any of its press releases thus far. EMHTF continues to set a torrid pace in its trend to the upside.
The company recently announced that it has agreed to issue “an aggregate of 2,645,000 incentive stock options to various directors, officers and employees of the Company at an exercise price of $4.25 per common share for a period of five years. All options shall vest 25% on the date of grant and 25% on the first three anniversaries of the date of grant, other than options granted to directors of the Company, which shall vest immediately.”
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, “, 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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As noted above, the company just announced that it is set to dress up its C-suite with some options-based compensation to reward them for hard work during the company’s recent phase of operational evolution. This has been a period of great success for the company, with share prices blasting over 300% higher during the second half of 2017.
According to the release, “the Options have been granted pursuant to the Company’s Omnibus Incentive Plan which has been previously approved by the Company’s shareholders and the TSX Venture Exchange. The options shall be subject to the applicable policies of the TSX Venture Exchange. The Company has also issued 350,000 restricted stock units to certain directors of the company, such RSUs to be settled by the issuance of 350,000 shares at $4.25 per share, all of which will vest on January 15, 2019 or such earlier date as is determined by the Board, so long as such director remains a director, employee or consultant of the Company as of the vesting date.”
Recent action has featured another round of new closing highs for shares of the stock, with resistance in the $4.25/share area being beaten on the final trading day of 2017.
Earning a current market cap value of $443.1M, EMHTF has about $28M in cash on the books, which is balanced by roughly $14M in total current liabilities. The company has pulled in about $470K in TTM revenues. As more color becomes clear on the name, we will review the situation and update our take. 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.