VICTORIA, British Columbia, Dec. 27, 2017 (GLOBE NEWSWIRE) — Emerald Health Therapeutics Inc. (“Emerald” or the “Company”) (TSXV:EMH) (OTCQX:EMHTF) has agreed to issue an aggregate of 2,645,000 incentive stock options to various directors, officers and employees of the Company at an exercise price of $4.25 per common share for a period of five years. All options shall vest 25% on the date of grant and 25% on the first three anniversaries of the date of grant, other than options granted to directors of the Company, which shall vest immediately.
The Options have been granted pursuant to the Company’s Omnibus Incentive Plan which has been previously approved by the Company’s shareholders and the TSX Venture Exchange. The options shall be subject to the applicable policies of the TSX Venture Exchange.
The Company has also issued 350,000 restricted stock units (“RSUs”) to certain directors of the company, such RSUs to be settled by the issuance of 350,000 shares at $4.25 per share, all of which will vest on January 15, 2019 or such earlier date as is determined by the Board, so long as such director remains a director, employee or consultant of the Company as of the vesting date.
About Emerald Health Therapeutics Inc.
Emerald Health Therapeutics, Inc. (TSXV:EMH) (OTCQX:EMHTF) operates through Emerald Health Botanicals Inc. (“Botanicals”), a wholly owned subsidiary and Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. Emerald also owns 50% of Pure Sunfarms, a partnership with Village Farms that is converting an existing 1.1 million s.f. greenhouse in Delta, BC from growing tomatoes to growing cannabis. Emerald’s team is highly experienced in life sciences, product development and large-scale agribusiness. Emerald is part of the Emerald Health group, which is broadly focused on developing pharmaceutical, botanical and nutraceutical products designed to provide wellness and medical benefits by interacting with the human body’s endocannabinoid system.
Please visit www.emeraldhealth.ca for more information.
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