Emerald Health Therapeutics Closes $2.1 Million Prospectus Sale

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, June 02, 2020 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics, Inc. (“Emerald”) (TSXV: EMH; OTCQX: EMHTF), is pleased to announce that it has closed its prospectus offering (the "Offering") to certain institutional accredited investors (the “Investors”), as announced on May 21, 2020. Pursuant to the Offering, Emerald has issued 11,351,351 units of Emerald (each, a "Unit") at a price of $0.185 per Unit for total gross proceeds of $2,100,000.

Each Unit consists of one common share of Emerald (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the Investors to acquire one additional Common Share (each, a "Warrant Share") at a price of $0.27 per Warrant Share for a period of three years following the closing of the Offering. In the event that the closing sale price of the Common Shares on the TSX Venture Exchange, or such other principal exchange on which the Common Shares are then trading, is greater than $0.40 per Common Share for a period of ten consecutive trading days at any time after the closing of the Offering, Emerald may accelerate the expiry date of the Warrants by giving written notice to the Investors and in such case the Warrants will expire on the 15th day after the date on which such notice is given by Emerald.

Emerald intends to use the net proceeds of the Offering for the payment of salaries, lease obligations and other operating costs.

The Units were offered by way of 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.