SEATTLE, March 07, 2018 (GLOBE NEWSWIRE) — CFN Media Group (“CannabisFN”), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article examining recent developments with Emerald Health Therapeutics Inc.’s (TSX-V:EMH) (OTCQX:EMHTF) partnership with Village Farms International. While most licensed producers are independently scaling their production capacity and maneuvering through the learning curve of growing cannabis in large scale, Emerald Health has partnered with an existing agricultural giant to quickly scale up operations in a way that avoids many of the growing pains that they would otherwise face.
Securing a Cultivation License
With over 30 years of agricultural experience, and existing facilities well-suited to convert into cannabis cultivation facilities, Village Farms was a natural choice for Emerald Health to partner with and become one of the largest licensed producers in the country. The two companies recently announced that Health Canada issued a cultivation license for the co-owned Delta 3 greenhouse operation under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
“Our joint venture is well positioned to be a leading supplier in the imminent legal adult-use Canadian cannabis market, with potentially significant benefit to each of our companies and shareholders,” said Emerald Health Executive Chairman Avtar Dhillon, MD, in a recent press release announcing the joint venture’s new cultivation license.
The 1.1 million sq. ft. cannabis growing facility is located in Delta, British Columbia and is conservatively projected to produce 75,000 kilograms of high quality cannabis when it moves into full production. By putting cutting-edge technologies and cultivation practices into place, management aims to become one of the lowest cost producers at less than $1.00 per gram, which could make the joint venture one of the most profitable licensed producers.
The conversion of the first 250,000 sq. ft. of the 1.1 million sq. ft. Delta 3 greenhouse is already substantially completed and is expected to come online in April 2018. The remainder of the 1.1 million sq. ft. facility is expected to enter into full production in 2019.
In addition, the joint venture holds options on two additional greenhouses owned by Village Farms that could expand production capacity to 4.8 million sq. ft. – making it potentially one of the biggest licensed producers in the world.
Innovative Technologies in Place
Emerald Health’s joint venture is converting the Delta 3 greenhouse operation to cannabis production with meticulous attention to detail. Growing agricultural crops on a large scale at competitive prices is extremely challenging for any producer, but Village Farms has tremendous experience growing a wide range of agricultural produce over several decades. The joint venture aims to set a new standard in the Canadian cannabis industry.
“With Emerald’s in-depth cannabis expertise, Village Farms’ know-how based on innumerable crop cycles over 30 years of large-scale greenhouse growing, and working with global agricultural leads and high-tech facilities and systems experts, we configured this greenhouse for continuous weekly harvesting year-round, maximizing operating efficiencies, and flexibility to adapt to an evolving market,” said Dr. Dhillon.
The Delta 3 greenhouse features:
- Automated growing systems to optimize efficiency;
- Industry-leading HVAC systems supported by advanced data technologies;
- High tech light deprivation and supplementation systems;
- State-of-the-art drying, trimming, and packaging areas;
- Proprietary labour tracking systems;
- Secure low-cost electricity from BC’s hydroelectric power plants
Emerald Health Therapeutics Inc. (TSX-V:EMH) (OTCQX:EMHTF) is strongly positioned in Canada’s rapidly growing cannabis industry. Through its Village Farms partnership, the company has gained access to some of the smartest minds in agriculture and is rapidly scaling up its operations to 250,000 sq. ft. and then to 1.1 million sq. ft. by next year. Combined with its other wholly owned Lower Mainland facility, its extensive life sciences expertise, and its focus on product innovation, investors may want to take a look at the stock as it gears up through 2018.
Please follow the link to read the full article: http://www.cannabisfn.com/emerald-health-ramps-world-class-cultivation-facility-b-c/
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