Emblem’s (TSXV:EMC) president and CEO Nick Dean issued a letter to shareholders of the company, providing an update on the operations for the company.
As quoted in the press release:
Having just completed my first quarter as your new President and CEO of Emblem Corp., I would like to start by thanking the many groups who have made this exciting evolution of our company possible. The incredible support of our shareholder base and the significant efforts of our world-class management team have allowed us to quickly pivot our approach. This strategy strengthens our current position as a leading medical cannabis company, while creating a brand-leading division launch within the burgeoning adult-use market, slated to begin in Q3 2018.
With the two financing transactions Emblem successfully completed in the last 120 days our balance sheet is incredibly strong, with close to $85M available to support our growth plans. This financial strength allows us to complete construction of two, state-of-the-art cultivation and manufacturing facilities in Paris, ON, as well as seek out opportunities for further cultivation expansion. In addition, we will be making strategic investments in R&D, clinical research, marketing and promotion, product development and licensing. Each of these endeavors collectively allows Emblem to maintain its leadership position within the medical side, as well as poises us for a unique and competitive advantage in the adult-use space. Our team has been very active in pursuing these opportunities and we look forward to sharing some exciting announcements in the coming weeks.