Emerald Health Therapeutics Closes Final Tranche Prospectus Sale
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX: EMHTF) has closed the final tranche of its $3,000,000 prospectus offering (the “Offering”), announced in its news release dated January 6, 2020.
Pursuant to this final closing, Emerald has issued an aggregate of 2,748,276 units of Emerald (each, a "Unit") at a price of $0.29 per Unit for total gross proceeds of $797,000. The initial tranche of the Offering closed on February 6, 2020 for gross proceeds of $2,203,000.
Each Unit consists of one common share of Emerald and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one common share of Emerald (each, a "Warrant Share") at a price of $0.385 per Warrant Share for a period of five years following the closing of the Offering.
The Company intends to use the net proceeds of the Offering for general working capital purposes, including the payment of salaries, consulting fees and operating expenses.
The Units were distributed pursuant to a shelf prospectus supplement filed in all of the provinces of Canada pursuant to National Instrument 44-102 – Shelf Distributions.
This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation, or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Emerald Health Therapeutics
Emerald Health Therapeutics, Inc. is committed to creating new consumer experiences with recreational and wellness-oriented cannabis products. With an emphasis on innovation and production excellence, Emerald has built a platform of distinct operating assets designed to uniquely serve the Canadian marketplace and international opportunities. Its 50%-owned Pure Sunfarms (PSF) operation in British Columbia, with high quality, affordably priced products, is in full production at its first 1.1 million square foot greenhouse operation, Delta 3. Emerald’s Verdélite premium craft operation is fully licensed and in full production in its 88,000 square foot indoor facility in Québec. Its Metro Vancouver health and wellness-oriented organic greenhouse and outdoor operation has completed planting in the first of two 78,000 square foot buildings. Its Emerald Naturals joint venture is creating a completely new wellness product category with its non-cannabis endocannabinoid-supporting product line and is expanding distribution across Canada.