Emerald Health Therapeutics today announced that it will cease operations at its cannabis production facility in Greater Vancouver, British Columbia effective March 31, 2021 and will consider strategic
alternatives for this facility.
“Closing our Greater Vancouver production facility is part of Emerald's revised business strategy and transition away from the value segment of the cannabis market toward science-driven product development and the defined-scale production of premium cannabis in our St. Eustache, Quebec facility targeting consumers in Quebec, Ontario, and other key markets, along with the medical cannabis segment of the market,” said Riaz Bandali, President & CEO of Emerald.
“This action is expected to save Emerald approximately $4 million in annual operating expenses and will enable us to devote more time, resources and investment related to potential opportunities beyond Canada.” Approximately 10 positions will be made redundant by the closure of the Greater Vancouver production facility. Emerald will continue to operate its St. Eustache and Victoria facilities as well as its separate, purpose-designed R&D facility in Greater Vancouver.
For more information:
Emerald Health Therapeutics
emeraldhealth.ca