Monday, June 27, 2022

The Rapid Rise of EMERALD HEALTH THE (OTCMKTS:EMHTF)

EMERALD HEALTH THE (OTCMKTS:EMHTF) is on a six month tear that has seen the cannabis company add close to 300% in value. EMHTF is a hot stock on the OTC, and for good reason.
One move that has recently gotten overlooked is the successful review from Health Canada. The Pure Sunfarms greenhouse facility has met the requirement for licensed producer regulations under the ACMPR – on paper anyway. Still, this news, which actually came out in mid-November, is an important milestone for the company. If readers are unfamiliar with the story here, Pure Sunfarms is converting its existing 1.1 million-square foot (25-acre) greenhouse facility located in Delta, BC to cannabis production for medical use and adult use, for which the Government of Canada is working to provide regulated and restricted access by July 2018.
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, 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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“We appreciate the fast, preliminary review by Health Canada of our licensed producer application for the Pure Sunfarms site,” said Dr. Avtar Dhillon, Executive Chairman of Emerald. “I applaud our team for advancing the application process to this stage as we work toward our goal of creating one of the most efficient, low-cost growing operations to serve the growing wellness and medical market as well as the anticipated recreational market in 2018.”
The meticulous preparation by our teams and Emerald’s excellent track record of compliance with Health Canada have been beneficial in enabling an expeditious review process,” said Michael DeGiglio, CEO of Village Farms. “The Pure Sunfarms partnership combines the extensive expertise of Emerald in cannabis cultivation, research and development and Village Farms’ deep experience in large scale, efficient greenhouse cultivation. Together we are positioned to become one of the premier cannabis growers in Canada.”
Sporting a market cap of $189.62M, EMHTF has about $28M in cash on the books, which is balanced by roughly $14M in total current liabilities. Furthermore, the recent move to take a score a stake in Vanc Pharmaceuticals is a nice move for an established name in the over-the-counter pharma space and offers a strong distribution network for the company. This one is moving fast so we will be writing updates soon. 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.

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