Emerald Health Therapeutics (TSXV:EMH; OTCQX:EMHTF) signed an agreement with Northern Vine Canada and Abattis Bioceuticals (CSE:ATT; OTC:ATTBF) to invest $2.5 million into Northern Vine to acquire 53% of the company and appoint three of its four directors.
As quoted in the press release:
Abattis will continue to hold the remaining 47% of Northern Vine.
Northern Vine is a Licensed Dealer (“LD”) under the provisions of the Canadian Controlled Drugs and Substances Act, which permits Northern Vine to carry out a much broader range of cannabis research and development and pursue international business opportunities that Emerald is not permitted to undertake under Emerald’s Licensed Producer (“LP”) designation under the Access to Cannabis for Medical Purpose Regulations (“ACMPR”).
Of notable importance, Northern Vine’s LD status allows it to not only export/import cannabis, as LPs are permitted to do under ACMPR, but to also export/import cannabis oils.