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Emerald Health Therapeutics’ Subsidiary Northern Vine Receives International Government Approvals and Completes Import and Export of Cannabis Oils for Research & Development
Northern Vine receives approval from Health Canada to export to USA and import isolated CBD from the Netherlands, Colombia and China, with corresponding national permits
First known export of legal cannabis products from Canada to the United States pursuant to an import permit issued by the federal United States Drug Enforcement Agency
VICTORIA, British Columbia, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (TSXV:EMH; OTCQX:EMHTF) (“Emerald”) announced today that Northern Vine Canada Inc. (Northern Vine), a wholly owned subsidiary of Emerald, successfully completed the export of cannabis oil to the United States on May 25 pursuant to an import permit from the federal U.S. Drug Enforcement Agency (DEA). The cannabidiol (CBD)-containing cannabis oil is expected to be used by a US biopharmaceutical company to develop its proprietary cannabinoid technology for medical research and development and for its manufacturing process for future clinical trials.
In addition, Northern Vine successfully imported isolated cannabigerol (CBG) from Spain on June 27 for medical research and development of plant-based therapies with unique cannabinoid profiles. Northern Vine also recently received cannabinoid oil imports for medical research and development from Netherlands and Colombia, and has been approved for cannabinoid oil imports from China.
Northern Vine is a Licensed Dealer (“LD”) under the provisions of the Canadian Controlled Drugs and Substances Act. An LD is permitted to carry out certain business activities that Emerald is not permitted to undertake as a Licensed Producer (“LP”) under Access to Cannabis for Medical Purpose Regulations (“ACMPR”), including the import/export of cannabis and cannabis oils as well as the manipulation, formulation, dosage form, strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances, expanding possible research and product innovation opportunities for Emerald.
“We are one of the few companies with DEA approval in the United States allowing us to support the development of novel cannabis-based medical-use drugs. This is representative of our capabilities focused on international clinical development,” said Chris Wagner, CEO of Emerald. “Importing unique isolates from sophisticated international producers for our own research and development is also aligned with our focus of driving the development of novel cannabis-based products to improve lives around the world.”
About Emerald Health Therapeutics, Inc.
Emerald Health Therapeutics, Inc. (TSXV: EMH; OTCQX: EMHTF; Frankfurt: TBD) is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald owns 50% of Pure Sunfarms, which is converting a licensed existing 1.1 million square foot greenhouse in Delta, BC, and is in commercial production. It owns Agro-Biotech, a Québec-based licensed cannabis grower with a 75,000 square foot indoor facility. Emerald has also entered into hemp chaff purchase agreements in 2018 and subsequent years. Emerald’s team is highly experienced in life sciences, product development, large-scale agri-business, and marketing, and is focused on developing value-added cannabis-based products with potential wellness and medical benefits. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical, and nutraceutical products that may provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information or contact:
Rob Hill, Chief Financial Officer
(800) 757 3536 Ext. #5
Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include legalization of nonmedicinal cannabis; development of technology and products; and supply of hemp.
We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, failure to obtain regulatory approvals; failure to obtain necessary financing; failure of the counterparty under Emerald’s hemp supply agreement to source hemp; results of production and sale activities; results of scientific research; regulatory changes; changes in prices and costs of inputs; demand for labour; demand for products; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.