Emerald Health Therapeutics Inc. (“Emerald”) (TSXV: EMH) and Village Farms International, Inc. (“Village Farms”) (TSX: VFF; OTC: VFFIF) today announced that they have entered into a definitive agreement to form a Joint Venture (the “JV”) for large-scale, high-quality, low-cost cannabis production. Under the terms of the agreement, Village Farms has contributed a 1.1 million-square foot (25-acre) greenhouse facility located on a 50-acre parcel of land in Delta, British Columbia (with ancillary buildings) (the “Initial Greenhouse”). Subject to obtaining necessary licensing, the Initial Greenhouse will be converted to ACMPR (Access to Cannabis for Medical Purposes Regulations)-compliant production and, if permitted by applicable law and stock exchange requirements, production for the non-therapeutic adult-use market. Emerald will initially contribute, in multiple stages, an aggregate of $20 million in cash (of which $2 million was advanced at closing and the remaining $18 million will be advanced in tranches upon satisfaction of certain milestones to be determined by the board of directors of the JV) to fund conversion of the Initial Greenhouse and each party will have a 50% ownership stake in the JV. (All figures are presented in Canadian dollars.)
Highlights of the JV Agreement

  • Village Farms is one of the largest and most experienced and technically advanced greenhouse produce growers in North America, with its master grower team having a combined 750 years of experience and an ingrained culture of high-quality, low-cost greenhouse agricultural production;
  • Emerald has significant cannabis industry experience and assets, including a portfolio of diverse genetics and refined standard operating procedures, with a flawless record of operations under Health Canada’s stringent ACMPR regime;
  • Formation of the JV strategically positions Emerald for rapid production capacity expansion in partnership with world-class greenhouse operators, positioning it for the expected future adult-use market and existing undersupplied medical cannabis market;
  • The JV has the goal to be the lowest-cost producer of high quality cannabis in Canada;
  • 1.1 million square feet of initial potential greenhouse cannabis production (estimated to yield more than 75,000 kg of product annually) upon completion of full licencing and conversion;
  • The JV has options to acquire from Village Farms up to 4.8 million square feet of greenhouse capacity, which is estimated to yield more than 300,000 kg of cannabis annually and could supply a considerable portion of expected future cannabis demand in Canada or for export abroad;
  • Formation of the JV is a transformational opportunity for Village Farms that will initially see the conversion of one of its existing Delta, BC greenhouse assets to grow a substantially more profitable agricultural product;
  • The JV will help Emerald optimize raw material supply and cost for downstream product development, specifically extraction-based products, which is a rapidly growing segment of the Canadian medical cannabis market and expected to be a meaningful part of the non-therapeutic adult use market; and,
  • Emerald continues to advance Phase 1 of its 32-acre Lower Mainland (BC) property, with plans for a modular advanced indoor growing operation (initially 50,000 square feet, expected to be constructed by Q1 2018) aimed at cultivating premium quality cannabis and housing a lab, processing facility, and other required facilities for downstream product development.

“Diversification into cannabis production is a transformational opportunity for Village Farms, with a portion of its Canadian assets, to apply our core capabilities and expertise as a technology-driven, low-cost, high-quality greenhouse grower and our significant investment in our existing facilities to a product that is vastly more profitable,” said Michael DeGiglio, Chief Executive Officer, Village Farms International, Inc.
“Partnering with Village Farms, one of North America’s largest and most technologically driven greenhouse growers, on this tremendous opportunity, is a very exciting development for Emerald,” said Avtar Dhillon, MD, Executive Chairman, Emerald Health Therapeutics. “Village Farms is a global leader in greenhouse growing and, importantly, an expert in the complex matter of safety for agricultural consumables, which is a critical competency in the production of cannabis. Together we have the experience, expertise, and capital to become not only Canada’s, but one of the world’s, premier greenhouse cannabis growers.”
The transaction closed concurrently with the signing of a definitive agreement, at which time the JV leased (with the option to buy) the Initial Greenhouse. The JV also entered into an agreement with Village Farms for options to lease or purchase from Village Farms a second 1.1 million square foot greenhouse (25 acre) and a 2.6 million square foot (60 acre) greenhouse, both located adjacent to the Initial Greenhouse. Combined, these three greenhouse assets could provide the JV with total potential aggregate production capacity of approximately 4.8 million square feet (110 acres).
Emerald and Village Farms believe the potential conversion of all of Village Farms’ Delta, BC greenhouse operations, if the options were exercised, could yield more than 300,000 kg of cannabis annually. Emerald and Village Farms believe this has the potential to fill a substantial portion of the potential Canadian production gap for both medical and non-therapeutic adult-use cannabis.
The JV will as soon as possible initiate the process to obtain a Health Canada license to grow cannabis under ACMPR regulations and concurrently commence the process of converting the Initial Greenhouse for cannabis cultivation.
Any additional capital requirements of the JV are to be contributed on a pro-rata basis by Village Farms and Emerald, or by outside third-party funding.
Conference Call
Village Farms’ and Emerald’s management teams will host a joint conference call tomorrow, Wednesday, June 7, 2017, at 10:00 a.m. ET to discuss today’s announcement. Participants can access the conference call by dialing (647) 427-7450 or (888) 231-8191, or via the Internet at http://bit.ly/2qXtHYQ.
For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial (416) 849-0833 or (866) 859-2056 and enter the passcode 35029750 followed by the pound key. The telephone replay will be available until Wednesday, June 14, 2017 at midnight.
About Village Farms International, Inc.
Village Farms International, Inc. is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company. With more than 750 years of accumulated master grower experience coupled with advanced proprietary technology and environmentally sustainable growing practices, Village Farms is highly resource efficient and is one of the lowest-cost, highest-quality growers of hydroponic produce in the U.S. and Canada.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics wholly owns Emerald Health Botanicals, which holds a License under the ACMPR to cultivate and sell medical cannabis and oils out of its facility located in Victoria, British Columbia. Emerald’s focus is on extraction and downstream product development, with a strategy of purchasing cannabis from high quality low cost producers, such as the JV. Emerald is also developing an indoor production facility on 32 acres in the Lower Mainland (BC) to grow its unique strains of cannabis with the intention of treating medical conditions and developing consumer products.
Financial and Legal Advisors
National Bank Financial acted as financial advisor to Village Farms and Torys LLP acted as legal advisor to Village Farms and McCullough O’Connor Irwin LLP acted as legal advisor to Emerald with respect to the JV transaction.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws.  All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.
We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward-looking statements include, but are not limited to, completion of licensing for the Initial Greenhouse and the additional facilities discussed herein; conversion of the Initial Greenhouse and the additional facilities discussed herein to ACMPR-compliant cannabis production; rapid production capacity expansion; estimates of production of cannabis at the Initial Greenhouse and the additional facilities discussed herein; the development and potential size of a non-therapeutic adult-use market for cannabis and cannabis extracts; growth of demand for cannabis extracts in the medical and non-therapeutic adult-use market; build out of Phase 1 of the Company’s indoor growing facility and the details thereof; contributions of cash to the JV; the JV becoming one of the world’s premier greenhouse cannabis growers; the production gap for medical and non-therapeutic adult-use cannabis; and expected timing of any of the above matters.  
Emerald Health Therapeutics Inc. does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, failure to obtain required approvals under the ACMPR and other applicable laws and regulation; failure to obtain necessary financing; failure of the Canadian federal government to approve legislation legalizing sales of non-therapeutic adult-use cannabis; other regulatory changes; demand for cannabis generally in Canada; competition in the Canadian market for cannabis; difficulties in construction or in obtaining qualified contractors to complete greenhouse retrofits; actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations; and other risk factors described in the Company’s annual information form and other filings with the applicable Canadian securities regulators, which may be viewed at  www.sedar.com. Actual results may differ materially from those expressed or implied by such forward-looking statements.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
SOURCE Emerald Health Therapeutics, Inc.
For further information: Bin Huang, 778-668-4339, invest@emerald.care
RELATED LINKS
https://www.emerald.care/


Source: www.newswire.ca

ARCOLOGY NETWORK ACHIEVES MAJOR TECHNICAL MILESTONES TOWARD POTENTIAL COIN OFFERING

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is exploring a potential coin offering, following the results of its first Testnet where the Arcology team achieved major product development milestones

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Aurora Cannabis, Inc. (NYSE: ACB) securities between February 13, 2020 and September 4, 2020 (the “Class Period”). Investors have until December 1, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

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The coming together of two Canadian beverage industry leaders will form a unique vertical in the plant-based mineral and cannabis beverage sectors

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

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The potential for new disease research and treatments is expanding thanks to the global adoption of marijuana for medical purposes.

As more countries open the doors to the use and investigation of cannabis, medical applications for the drug are set to expand — indeed, the substance has already shown much promise.

However, in terms of treating skin cancer patients, currently the promise of cannabis outpaces any medically confirmed results or applications.

Though there may be individual cases crediting the drug, cannabis and its derivatives are not being applied to treat skin cancer — at least not yet. Read on to learn about the current situation and future possibilities.

Skin cancer, cannabis and medical research

According to the American Cancer Society, skin cancer is the most common type of cancer, accounting for over 5 million cases per year. This category holds many different variations, but the main three types are basal cell carcinomas, squamous cell carcinomas and melanomas; the rest are considered rare.

Melanomas develop in specific areas like the neck and face and can be more serious than their counterparts. Basal and squamous cancer cells, on the other hand, develop based on a person’s sun exposure and mostly appear on the head and neck.

The Canadian Cancer Society states that treatments for non-melanoma skin cancer include surgery, radiation therapy, photodynamic therapy and drug therapy, including the use of topicals.

In the future, cannabis and cancer could be paired up as more research across the globe begins to take place and companies look for new medications and formulations, boosted by the early successes of the drug.

Changes are happening slowly, with one serious improvement being when GW Pharmaceuticals (NASDAQ:GWPH) obtained approval in the US for its cannabidiol (CBD) solution, which treats seizures associated with Lennox-Gastaut syndrome or Dravet syndrome in toddlers.

After going through its clinical trials, the company’s Epidiolex drug received approval from the US Food and Drug Administration, signaling that top medical agencies are ready to confirm the medical prowess of cannabis and its derivatives for the benefit of patients.

Cannabis entering the skincare space

Looking more specifically at cannabis and skin ailments, the National Eczema Association has vouched for CBD as an option in the treatment of eczema, a skin disease that affects over 30 million people in the US.

“It has long been observed that cannabinoids possess anti-inflammatory, antimicrobial and anti-itch qualities,” the Independent reported.

A study from the the University of Colorado School of Medicine is looking further into the use of CBD for patients with psoriasis or eczema who have tried using topical steroids or topical immunomodulators.

Robert Dellavalle, professor of dermatology with the University of Colorado, told Inside Science that CBD products are growing in popularity, but the results are not being collected as properly as they could be.

“I believe it’s a wide-open horizon with tremendous potential that needs to be investigated, but there are a number of regulatory hurdles that need to be overcome and that’s where we are,” he said.

A medical study from the University of Colorado’s Anschutz Medical Campus shows the anti-inflammatory sensibilities of cannabinoids are the main reason why cannabis may be potent in combating skin diseases.

As part of its guide for healthcare practitioners, Tilray (NASDAQ:TLRY) indicates that medical cannabis could aid patients with inflammatory skin diseases such as dermatitis, psoriasis and pruritus.

“And while this research is still relatively formative, the results achieved so far clearly indicate its value and the promising potential of cannabis as effective medicine,” Tilray states.

Dave Berg, chief technology officer for software company Strainprint, told the Investing News Network the lack of sophisticated research has impacted the development of novel therapies for patients using cannabis.

“It’s been very difficult for people to study cannabis in a clinical way, but there’s been a ton observational data … There’s no really strong observational data set that allows us to make proper decisions,” Berg said.

In an effort to increase the research options available for cannabis, the Canadian federal government announced in 2018 that it would spend C$10 million over five years in order to assess the impact of cannabis use on the mental health of Canadians.

The government also promised C$10 million to the Canadian Center on Substance Use and Addiction for research purposes.

CBD skincare products getting traction

Amid developments geared at solving specific skin issues, more general CBD skincare products are also gaining popularity among many consumers.

For example, the introduction of cosmetics with cannabis elements, supported by Canadian licensed producers, is another upcoming element for the skin treatment segment of consumers. While not medical, this avenue does offer more options in terms of cannabis uses.

The endorsement from consumers for CBD ointments and other topicals for skincare has been documented with multiple products launched in the fractured US cannabis market.

One downside of the growth in these products is that it has led companies to make more and more claims about how these items can help with skin conditions. One study from the Journal of the American Medical Association warns that CBD products are often mislabeled online.

Takeaway on cannabis and skin cancer

In order for skin cancer patients to see the potential benefits from treatment with medical cannabis, much still has to change in Canada and abroad.

As the medical and recreational sections of the cannabis space continue drifting apart thanks to legalization efforts, the medical space should get more time to properly research and investigate the drug’s applications.

The early position CBD has gained in terms of skin maintenance and treatment could lead to further research on its impact on more serious diseases.

What’s more, GW Pharmaceuticals’ success, along with increased awareness of the medical benefits of cannabis, is moving the needle on research efforts geared at finding out how capable the drug will be in the medical space.

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The growth of the cannabis industry has made it possible for companies to offer many different investment opportunities through the major exchanges in Canada.

Previously known as the Canadian Venture Exchange, the TSX Venture Exchange is the sibling of Canada’s main listings board, the larger Toronto Stock Exchange.

For those interested in investing in cannabis companies, this exchange offers a variety of cannabis-related businesses, from growers to biotech companies looking for cannabinoid therapies.

Here the Investing News Network offers investors a growing list of all cannabis-related companies listed on the TSXV. Read on to learn more about them and their businesses.

48North (TSXV:NRTH)

This company is a marijuana producer looking to offer a variety of products for the recreational market in Canada, including for the health and wellness industry. 48North is a licensed outdoor grower of cannabis.

Auxly Cannabis Group (TSXV:XLY,OTCQX:CBWTF)

Created by Chuck Rifici, co-founder of Tweed, Auxly Cannabis Group operates as a cannabis streaming investment firm looking to boost various plays related to the sector.

Avricore Health (TSXV:AVCR)

While Avricore Health operates as a healthcare technology company, in 2017 the firm made a deal with Emerald Health Therapeutics (TSXV:EMH,OTCQX:EMHTF) for the right to develop and sell endocannabinoid products in Canada to licensed pharmacies.

CanadaBis Capital (TSXV:CANB)

This cannabis company is targeting the Canadian market through a business model that is focused on cultivation, research, product development, retail and hemp.

Emerald Health Therapeutics

This Canadian cannabis company holds a variety of growing assets in the country. The firm holds a 50/50 joint venture for the management of a grower in BC with Village Farms International (TSX:VFF,NASDAQ:VFF).

EnWave (TSXV:ENW,OTC Pink:NWVCF)

EnWave is a technology company that has centered itself in the cannabis business thanks to its Radiant Energy Vacuum drying technology for organic materials. It effectively decreases the time from the harvest to the sale of cannabis products.

Elixxer (TSXV:ELXR,OTCQB:ELIXF)

Through its partners, investment firm Elixxer presently has significant interests in Australia, Jamaica, Switzerland, Italy and Canada.

Eve & Co. (TSXV:EVE,OTCQX:EEVVF)

Eve & Co. is a Canadian cannabis producer that, thanks to its subsidiary Natural MedCo, is targeting female consumers, specifically with premier brands.

Experion Holdings (TSXV:EXP,OTCQB:EXPFF)

Formerly known as Viridium Pacific Group, this cannabis investment firm holds a portfolio of assets, including its licensed producer Experion Biotechnologies in BC.

The Flowr Corporation (TSXV:FLWR,OTC Pink:FLWPF)

The Flowr Corporation is a vertically integrated cannabis company working on the cultivation and sale of medical and recreational marijuana in Canada.

FluroTech (TSXV:TEST,OTCQB:FLURF)

FluroTech is a technology company working on a cost-effective testing platform for the cannabis industry at large. The company’s proprietary CompleTest employs fluorescence spectroscopy technology to measure the specific contents of the product.

GTEC Holdings (TSXV:GETC,OTCQB:GGTTF)

This Kelowna-based cannabis company is vertically integrated, with operations in the cultivation, extraction and analytical testing sectors. The company is also pursuing retail operations through various investments.

Harvest One Cannabis (TSXV:HVT,OTCQX:HRVOF)

Harvest One Cannabis is a cannabis company with production and assets spread across Canada, Europe, Israel and Australia. The company gains its reach thanks to its three subsidiaries: United Greeneries, Satipharm and Dream Products.

Hill Street Beverage Company (TSXV:BEER)

This beverage maker has made its name thanks to its development of non-alcoholic beverages. Now the firm will offer consumers cannabis-infused drinks.

INDIVA (TSXV:NDVA,OTCQX:NDVAF)

INDIVA is a company focused on the supply of medical cannabis. Through an acquisition, it holds a licensed producer with an indoor cannabis facility in Ontario.

Khiron Life Sciences (TSXV:KHRN,OTCQB:KHRNF)

Khiron Life Sciences is a Colombia-based cannabis company raising capital in Canada. The firm has declared that it will seek to expand its presence through Latin America, including Mexico.

Meta Growth (TSXV:META)

This company is a retail operator managing cannabis shops across Canada. Meta Growth manages two recreational store brands: Meta Cannabis Supply and NewLeaf Cannabis.

Namaste Technologies (TSXV:N,OTCQB:NXTTF)

After a tumultuous management change, Namaste Technologies has centered back on its investments and the development of its marijuana play, which includes its online platform of cannabis consumer information.

Naturally Splendid Enterprises (TSXV:NSP,OTCQB:NSPDF)

Naturally Splendid Enterprises is a biotech company developing hemp products for consumers in the health and wellness space. It plans to pursue a stake in the edible cannabidiol market as well.

Pharmacielo (TSXV:PCLO,OTCQX:PCLOF)

Pharmacielo is another cannabis company originally from Colombia raising capital in the Canadian markets. The company is headquartered in Canada, but operates part of its marijuana growing in Colombia.

Radient Technologies (TSXV:RTI,OTCQX:RDDTF)

Radient Technologies is an extraction technology company that has dabbled in the cannabis sector thanks to a partnership with licensed producer Aurora Cannabis (TSX:ACB,NYSE:ACB).

Relevium Technologies (TSXV:RLV,OTC Pink:RLLVF)

Thanks to its subsidiary Biocannabix, this company has a cannabis play in the development of pharmaceutical-grade products infused with cannabinoid formulations.

SugarBud Craft Growers (TSXV:SUGR)

Like some other Canadian cannabis producers, this Alberta company specializes in growing and developing craft-style premium cannabis products.

Target Capital (TSXV:TCI)

Doing business as CBi2 Capital, this Alberta-based company’s investment strategy focuses on developing and managing a diversified portfolio of predominantly early stage cannabis opportunities.

Tetra Bio-Pharma (TSXV:TBP,OTCQB:TBPMF)

Tetra Bio-Pharma is researching and developing medicines based on cannabis and its elements.

Therma Bright (TSXV:THRM)

Therma Bright is a medical device company that has a subsidiary seeking to carve up a space in the technology space for medical and recreational marijuana thanks to its pain relief device.

WeedMD (TSXV:WMD,OTCQX:WDDMF)

WeedMD is another Canadian cannabis producer making product for the medical and recreational markets in Canada. Its subsidiaries include WeedMD Rx and CX Industries.

YSS (TSXV:YSS,OTC Pink:YSSCF)

YSS operates as an adult-use cannabis retailer with 17 stores in Canada.

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