Health Canada Grants Approval For Pure Sunfarms, A JV Of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF), 65,000 Sq. Ft. Processing Center
Health Canada has approved 65,000 state-of-the-art processing center of Pure Sunfarms, a JV of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF). Pure Sunfarms can achieve cost efficiencies in the production by optimizing the throughput and operations. The JV can also improve the quality of products and enhance product offerings.
High-quality products at reduced rates
Chief Executive Officer and President of Pure Sunfarms, Mandesh Dosanjh said the approvals from Health Canada for this additional space helps the company to improve operations and ensure quality in processing to deliver high-quality products to the customers at reduced rates. Pure Sunfarms will benefit from the improved space in the coming quarter. It expects to post better performance in the coming quarter.
Thirty-three dedicated rooms
Pure Sunfarms will include thirty-three dedicated rooms for packaging, extraction, drying, production, testing, storage, and staging in a total of 65,000 Sq. Ft. processing center. It will build eight rooms, each 3,800 Sq. Ft. for EU GMP certification requirements.
Chief Executive Officer and President of Emerald, Riaz Bandali said the share gains in early 2020 reflect the leadership of Pure Sunfarms in the market place in terms of higher volumes. Various capabilities, along with the new processing center, expect to improve the ability of Pure Sunfarms to take advantage of its operational knowledge to achieve further growth.
Pure Sunfarms is the bestselling brand in the category of dried flowers in the Ontario Cannabis store as of February 29, 2020. It has gained a market share of 13.5% in terms of kilograms sold. The company has also launched high quality dried cannabis in 28 grams packaging and available at BC cannabis stores online.
Emerald signs an LOI with Sigma Analytical Services Inc
Emerald signed a letter of intent with Sigma Analytical Services Inc to facilitate the takeover of its Avalite cannabis analytical testing operation. The duo also plans to enter into a preferred partnership.
The deal is subject to the approval of the boards of both the companies and after conducting due diligence. It expects to close the deal on or before April 19, 2020.
Village Farms, Pure Sunfarms, and Emerald have announced the settlement of all the disputes. They have discontinued the arbitration process.
Published at Thu, 02 Apr 2020 12:15:41 +0000