Emerald Health Announces Joint Venture With Pure Sunfarms With 1M Sq Ft of Space
Emerald Health Therapeutics Inc. (OTCMKTS:EMHTF) has announced that Health Canada has granted pure Sunfarms Corp its seventh amendment for the cultivation license of its Delta BC greenhouse. Emerald owns 50% of the low cost, large-scale cannabis production company.
Additional cultivation space licensed
In addition to the 1.1 million square foot Delta BC greenhouse, the company is adding 206,000 square feet to the fourth quadrant of the greenhouse which will put the company’s total cannabis production area to 16 rooms covering 1.03 million square feet. The company expects to begin cultivation in the newly licensed area by the end of March.
Executive Chairman and President of Emerald, Dr. Avtar Dhillon indicated that following the latest license, Pure Sunfarms is now licensed in all the growing areas which is a significant milestone for the team and the company. He added since Emerald has 50% stake in Pure Sunfarms which is a leading cannabis production facility the company expects to receive significant economic value following the latest developments.
Quarterly sales expected to grow
The chairman stated that they expect strong quarterly sales growth in 2019 because of the expected 40% of Pure Sunfarms’ production according to the company’s supply agreement and their hemp operations in Quebec.
Currently, Pure Sunfarms is replanting the first quadrant of the greenhouse after the suspension of cultivation in the quadrant last autumn for installation of lighting to enhance maximum production during winter. The company will complete the lighting installation in the third quarter during which supplemental lighting will be necessary. By April Pure Sunfarms expects to have completed replanting the first quadrant after which the company’s entire 1.03 square feet cultivation space will be in production.
Recently, Pure Sunfarms announced that it had signed an agreement with Canna Farms Ltd for the wholesale supply of a range of its branded premium dried flower products the medical clients of Canna farms for retail purchase. The wholesale supply agreement is an initiative intended to assist in expanding the sales and marketing reach of the branded products of Pure Sunfarms.
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