Emerald Joint Venture Receives Licenses from Health Canada to Sell Proprietary Products Supporting the Endocannabinoid System
Endo Brain recently awarded 2018 SupplySide Editor’s Choice Award for Brain Health
Planned mid-2019 product launch will open natural health product, grocery, and pharmacy store channels to Emerald non-cannabis product line
VICTORIA, British Columbia, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Emerald Health Therapeutics Inc. ("Emerald" or “the Company”) (TSXV: EMH; OTCQX: EMHTF) today announced that its joint venture, Emerald Health Naturals (“EHN”), has received product licenses and natural product numbers (NPNs) from Health Canada to sell its award-winning Endo product line of endocannabinoid-supporting nutritional products in Canada. The Endo product line has been designed to impact stress, anxiety, restless sleep, pain and other conditions using non-cannabis ingredients. EHN intends to launch the Endo product line over-the-counter in Canadian natural health product, grocery, and pharmacy stores by mid-2019.
“Our Endo product line was developed by internationally recognized natural health product experts and is unique in the natural healthcare marketplace. We are very excited to be able to offer our Endo products to Canadian consumers to support their endocannabinoid systems and improve aspects of their health,” said Dr. Gaetano Morello, CEO of EHN. “We are leveraging our key strategic relationships and working hard on the marketing, manufacturing and logistical steps in order to launch the Endo line by mid-2019.”
The Endo product line was developed by Emerald’s joint venture partner, San Diego-based Emerald Health Bioceuticals, Inc. (“EHB”), and its scientific advisors. Over the last year, EHB has secured multiple distribution and sales channels in the United States and internationally for the Endo product line, ranging from small independent natural health product retailers to nation-wide grocery store chains and Amazon.com. EHN, which is owned 51% by Emerald and 49% by EHB, will have exclusive Canadian distribution rights to the Endo products.
These cannabis-free nutritional supplements feature PhytoCann-Complex™, a proprietary formulation designed to support the body’s endocannabinoid system, which plays a central role in the orchestration, maintenance, and balance of health and well-being. The products include Endo SleepTM, Endo InflameTM, Endo BrainTM, Endo BlissTM, and Endo CalmTM. Endo Brain was recently awarded a prestigious 2018 SupplySide Consumer Packaged Goods Editor’s Choice Award for Brain Health, building on its NEXTY "Editor's Choice" Best New Supplement Award in the natural products industry in 2017.
“We have the unique opportunity to brand Emerald through EHN’s offering of the Endo product line through a number of valuable sales channels that are frequently visited by cannabis users but which cannot currently sell cannabis products,” said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. “In the event that CBD and other non-psychoactive cannabinoid products are allowed to be sold in these channels in the future, Emerald will be well positioned to add its cannabinoid compounds to the Endo product line and leverage its early marketing advantage. Emerald’s vision is to enhance human health through cannabis science. The creation of EHN and the launch of the Endo product line in Canada are key steps in Emerald’s strategy to achieve this goal.”
As announced in the Company’s press release dated November 22, 2018, the Company has obtained conditional approval of the TSX Venture Exchange for the formation of the EHN joint venture. The parties are in the process of finalizing definitive documentation with respect to EHN. Formation of EHN is conditional upon final regulatory approval and settlement of definitive documentation.
About the Endocannabinoid System
The endocannabinoid system (“ECS”) is a biological system with a vital role in regulating human health and disease. A lack of balance in the endocannabinoid system is likely to have adverse consequences in a number of human health conditions. The ECS is activated by endocannabinoids produced naturally in the body, but also by cannabis or non-cannabis plant ingredients that mimic the actions of cannabinoids produced in the body. All products in the Endo product line contain Phyto-CannTM Complex, which has been formulated by leading nutritional and cannabinoid scientists with non-cannabis herbal and botanical cannabinoids designed to favorably impact the ECS.
About Emerald Health Therapeutics
Emerald Health Therapeutics, Inc. is a Canadian licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint venture in BC is completing the conversion of its 1.1 million square feet (25 acres) greenhouse in the Lower Mainland to cultivate cannabis and its Agro-Biotech operation in Québec is currently operating out of its 75,000 square feet indoor cannabis cultivation facility. Commercial production is expanding in both facilities. In addition, Emerald has secured over 500 acres of hemp harvest in 2018 and has contracted for approximately 1000 acres in 2019 to 2022, with the objective of extracting low-cost cannabidiol out of its hemp harvest. 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, EHN and EHB are all part of the Emerald Health group, which represents a broad array of companies focused on developing pharmaceutical, botanical, and nutraceutical products developed to provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit http://www.emeraldhealth.ca for more information or contact:
Rob Hill, Chief Financial Officer
(800) 757 3536 Ext. #5
Ray Lagace, Investor Relations Manager
(800) 757 3536 Ext. #5
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.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include completion of the joint venture and obtaining exclusive Canadian distribution rights; establishing a brand; launch of the Endo line in 2019; sales of non-cannabis products; development of sales channels; expansion of permitted sales of cannabis; leveraging of distribution channels; development of new products; the benefits and effects of certain products; production capacity of various facilities; and receipt of hemp deliveries.
Actual results may vary from forward-looking statements. We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements involve risks and uncertainties related to, among other things, failure to obtain necessary financing; failure to settle final documentation; failure to obtain regulatory approvals; results of production and sale activities; results of scientific research; regulatory changes; changes in prices and costs of inputs; demand for labour; demand for products; future distribution agreements; failure of counterparties to perform contractual obligations; as well as the risk factors described in the Company’s annual information form and other regulatory filings. The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.