Emerald Well being Therapeutics Closes Convertible Debenture Unit Financing

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VANCOUVER, British Columbia – Emerald Well being Therapeutics, Inc. (“Emerald” or the “Company”) (TSXV: EMH OTCQX: EMHTF) announces that it has closed its prospectus supplying (the “Offering”) to particular Canadian institutional accredited investors announced on August 28, 2019. Pursuant to the Providing, the Corporation issued two,500 secured convertible debenture units (every, a “Convertible Debenture Unit”) at a cost of $10,000 per Convertible Debenture Unit (the “Issue Price”) for gross proceeds of $25,000,000.

Each and every Convertible Debenture Unit is comprised of one particular five.% secured convertible debenture of the Corporation in the principal quantity of $10,000 (every, a “Convertible Debenture”) and five,000 typical share purchases warrants of the Corporation (every, a “Warrant”). The Convertible Debentures have a maturity date of 24 months from the date hereof (the “Maturity Date”) and bear interest (at the alternative of the Corporation payable in money or, pursuant to TSXV guidelines and topic to particular limitations on a holder’s ownership levels, in typical shares of the Corporation (“Common Shares”)) from the date hereof at five.% per annum, accrued and payable semi-annually on June 30th and December 31st of every year. The Convertible Debentures include things like particular covenants relating to the company of the Corporation.

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Topic to particular limitations on a holder’s ownership levels, the Convertible Debentures are convertible, topic to particular restrictions and at the alternative of the holder, into Frequent Shares at any time prior to the close of company on the final company day right away preceding the Maturity Date. The Convertible Debentures have a conversion cost of $two.00 per Frequent Share (the “Conversion Price”). If, at any time prior to the Maturity Date, the volume weighted typical trading cost of the Frequent Shares on the TSX Venture Exchange (the “TSXV”) is higher than $three.50 for 10 consecutive trading days, the Corporation may well force the conversion of the principal quantity of the then outstanding principal quantity owing pursuant to the Convertible Debentures at the Conversion Value offered the Corporation provides 30 days’ notice of such conversion to the holder.

Topic to particular limitations on a holder’s ownership levels, every Warrant is exercisable to obtain one particular Frequent Share at an exercising cost of $two.00 per share for a period of 24 months from the date hereof. If, at any time prior to the expiry date of the Warrants, the volume weighted typical trading cost of the Frequent Shares on the TSXV is higher than $three.50 for 10 consecutive trading days, the Corporation may well provide a notice to the holder of Warrants accelerating the expiry date of the Warrants to the date that is 30 days following the date of such notice.

The Corporation has applied a portion of the net proceeds of the Providing to repay the outstanding loan to Emerald Well being Sciences Inc. and intends to use the remainder for operating capital.

The Convertible Debenture Units have been presented by way of a shelf prospectus supplement dated August 30, 2019 filed in all of the provinces of Canada pursuant to National Instrument 44-101 Brief Kind Prospectus Distributions and National Instrument 44-102 Shelf Distributions.

This press release will not constitute an present to sell or the solicitation of an present to acquire nor will there be any sale of the securities in any state in which such present, solicitation or sale would be unlawful. The securities getting presented have not been, nor will they be, registered beneath the United States Securities Act of 1933, as amended, and may well not be presented or sold in the United States absent registration or an applicable exemption from the registration needs of the United States Securities Act of 1933, as amended, and applicable state securities laws.


About Emerald Well being Therapeutics
Emerald Well being Therapeutics, Inc. is a Canadian licensed producer of cannabis. Its 50%-owned Pure Sunfarms joint venture in BC is licensed and completely planted in the 1st of its two 1.1 million square foot greenhouses. The capacity of every greenhouse is estimated to exceed 75,000 kg of cannabis annually. Emerald’s Verdélite operation in Québec is finishing the develop-out of its 88,000 square foot indoor cultivation facility and is scaling up production. Emerald has contracted for around 1,200 acres of hemp in 2019 to 2022 with the objective of extracting low-price cannabidiol. Emerald has secured exclusive strategic partnerships for massive scale extraction and softgel encapsulation, as properly as for proprietary technologies to boost cannabinoid bioavailability. Its group is hugely seasoned in life sciences, item improvement, massive-scale agri-company, and advertising, and is focused on building proprietary, worth-added cannabis items for health-related and adult-use prospects.

Emerald is aspect of the Emerald Well being Group which represents a broad array of firms focused on building pharmaceutical, botanical, and nutraceutical items aimed at giving wellness and health-related advantages by interacting with the human body’s endocannabinoid technique.



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