Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) shares have come ripping back in recent action, with the stock now quickly back above its major moving averages. The rebound took root at key support and follows a sell-the-news pullback on the heels of the Canadian official legalization announcement in the middle of October.
Helping to foster recent upside momentum, the company just announced that it has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the company as it significantly ramps up production and sourcing of cannabis and cannabinoid products. Emerald products have been available in these provinces since October 31st.
Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) bills itself as a company that, together with its subsidiaries, produces and sells medical cannabis in Canada.
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The company was formerly known as T-Bird Pharma Inc. and changed its name to Emerald Health Therapeutics, Inc. in June 2015. Emerald Health Therapeutics, Inc. is headquartered in Victoria, Canada.
Moreover, Emerald Health Therapeutics, Inc. is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations. Its 50%-owned Pure Sunfarms in BC is completing a sophisticated 1.1 million square feet greenhouse; its Agro-Biotech operation in Québec is completing a 75,000 square feet indoor facility.
Both facilities are in commercial production. It has also contracted for approximately 500 acres of hemp harvest in 2018 and 1000 acres in 2019 to 2022 with the goal of extracting low-cost cannabidiol (CBD). Emerald’s team is highly experienced in life sciences, product development, large-scale agri-business, and marketing, and is focused on developing proprietary, value-added cannabis products for medical and adult-use customers.
Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical, and nutraceutical products that may provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
We started off by noting that EMHTF just hit the wires with the announcement that it has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the Company as it significantly ramps up production and sourcing of cannabis and cannabinoid products. Emerald products have been available in these provinces since October 31st.
This announcement has popped the stock higher, which certainly isn’t surprising. EMHTF shareholders are now sitting on about 31% in gains over the past week.
“It has always been important to us to ensure we fulfill the supply commitments we made to our provincial cannabis distribution customers. We are pleased that our initial deliveries have met this obligation and that we have the ability to provide consistent and increasing contracted shipments of Emerald products,” said Paul Dillman, Emerald’s Executive VP, Global Sales & Marketing. “With proprietary market research, differentiated products based on unique plant genetics, a recognizable, trusted brand, significant marketing expertise and bandwidth, and a growing sales team across Canada, we are aiming for a significant ramp-up in sales every quarter from these initial deliveries forward.”
Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) generated sales of $284K, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of -23.8% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($72.7M against $26.3M).
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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