Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) has been one breakout after another. This has been one of our favorite plays in the space in recent months In our latest piece, we highlighted a positive technical pattern, which is breaking out in recent days. The company just was mentioned in an associated announcement attesting to the fact that Northern Vine Laboratories has been contracted by Abattis Bioceuticals Corp. to provide cannabinoid-rich, THC-free, hemp extract and to carry out research, development and analytical testing related to the formulation of a unique hemp- and cannabis-infused beer.
According to the release, “Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act. As a Licensed Dealer, Northern Vine has the ability to import/export cannabis and cannabis oils, as well as the right to conduct certain activities related to the manipulation, formulation, dosage form, and strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances. Northern Vine is co-owned by Abattis and Emerald Health Therapeutics, which is a controlling shareholder.”
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, “Emerald Health Therapeutics Inc (OTCMKTS: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 stock continues to impress, with recent catalysts mounting in its favor. Its latest catalyst is to note that, through its Vine play, the company will be a part of a process to “provide cannabinoid-rich, THC-free, hemp extract and to carry out research, development and analytical testing related to the formulation of a unique hemp- and cannabis-infused beer.”
“Our exciting partnership with Faculty Brewing positions us as one of the first Canadian companies to secure an agreement for research and development, analytical and regulatory services relating to a hemp- and cannabis-infused beverage,” said Rob Abenante, President and CEO of Abattis. “By aiming to develop a line of functional beers, each based on a different type of hemp extract, we hope to have a product that is compliant and market-ready as soon as Health Canada releases its new regulatory framework for hemp and cannabis-infused beverages,” added Mr. Abenante.
Now commanding a market cap of $711.1M, 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. We will update the story again soon as further details emerge. 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.