/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VICTORIA, BC, April 21, 2017 /CNW/ - Emerald Health
Therapeutics Inc. (TSXV: EMH) ("Emerald" or the
"Company") is pleased to announce the closing today of the
issuance of an additional 1,465,100 common shares (each, a
"Share") and 987,750 common share purchase warrants (each, a
"Warrant") for gross proceeds of $2,758,923 (the "Over-Allotment
Offering"). Each Warrant entitles the holder thereof to acquire
one Share at a price of $2.60 per
Share until April 20, 2019. In
the event that the closing price of the Shares on the TSX Venture
Exchange, or such other principal Canadian stock exchange on which
the Shares are then listed, is greater than $3.50 per Share for a period of 20 consecutive
trading days, the Company may accelerate the expiry date of the
Warrants by giving notice to the holders thereof and in such case
the Warrants will expire on the 30th day after such notice is
given.
The Over-Allotment Offering was completed pursuant to the
exercise in part of an over-allotment option granted by the Company
to Eight Capital (the "Underwriter") in connection with the
Company's bought-deal offering of 13,170,000 units ("Units")
for gross proceeds of $24.4 million,
which closed on April 20, 2017. Each
Unit consists of one Share and one half of one Warrant.
Emerald issued to the Underwriter a total of 43,953 compensation
options in connection with the Over-Allotment Offering. Each
such compensation option entitles the holder to acquire a Unit at a
price of $1.85 per Unit until
April 20, 2019.
The Company intends to use the net proceeds of the exercise of
the Over-Allotment Offering for general corporate purposes.
The Units were offered by way of a base shelf prospectus and a
shelf prospectus supplement filed in all of the provinces of
Canada, except Quebec.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction 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.
Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. operates primarily through
Emerald Health Botanicals Inc. ("Botanicals"), a wholly owned
subsidiary of the Company and a Licensed Producer under the Access
to Cannabis for Medical Purposes Regulations (the "ACMPR").
Botanicals is authorized to cultivate and sell both dried medical
cannabis flowers and medical cannabis oils in Canada. Botanicals currently operates an
indoor cultivation facility in Victoria,
British Columbia, and plans to construct a much larger
purpose built hybrid greenhouse facility on 32 acres in metro
Vancouver. Botanicals prides
itself on being one of Canada's
most medically focused licensed producers and on having one of the
industry's most qualified management teams with respect to
pharmaceutical drug discovery, development and distribution.
Botanicals intends to capture unique niches in both the medical and
future adult use cannabis markets through its proprietary strains,
defensible intellectual property, and superb client experience.
Please visit http://www.emeraldhealth.ca/ for more
information.
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, the use of proceeds from the Offering and construction
of facilities.
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, variations
in market conditions; and other risk factors described in the
Prospectus and the Company's 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 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.