Emerald Announces $2.1 Million Prospectus Sale

Published: May 22, 2020

Emerald Announces $2.1 Million Prospectus Sale

Emerald Health Therapeutics Inc. has entered into a binding term sheet with a single Canadian institutional accredited investor under which the Investor has agreed, subject to certain customary conditions, to purchase 11,351,351 units of Emerald at a price of $0.185 per Unit for total gross proceeds of $2,100,000.

Each Unit will consist of one common share of Emerald and one common share purchase warrant. Each Warrant will entitle the Investor to acquire one additional Common Share at a price of $0.27 per Warrant Share for a period of three years following the closing of the Offering. In the event that the closing sale price of the Common Shares on the TSX Venture Exchange, or such other principal exchange on which the Common Shares are then trading, is greater than $0.40 per Share for a period of ten consecutive trading days at any time after the closing of the Offering, Emerald may accelerate the expiry date of the Warrants by giving written notice to the Investor and in such case the Warrants will expire on the 15th day after the date on which such notice is given by Emerald.

Emerald intends to use the net proceeds of the Offering for general working capital purposes. The Units will be offered by way of a shelf prospectus supplement to be filed in all of the provinces of Canada pursuant to National Instrument 44-102 – Shelf Distributions. The closing date of the Offering is scheduled to be on or about May 26, 2020 and is subject to certain customary conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

Emerald Health Therapeutics, Inc. is committed to cutting-edge cannabis science to create new consumer experiences with distinct recreational, medical and wellness-oriented cannabis and non-cannabis products.

Please visit www.emeraldhealth.ca for more information or contact: