Emerald Health Therapeutics Completes Private Placement and Shares for Debt Transaction

VICTORIA, BC, Sept. 21, 2016 /CNW/ - Emerald Health Therapeutics Inc. (TSXV: EMH) ("Therapeutics") announced today that it has completed the private placement (the "Offering") of 4,077,687 units (a "Unit") of the Company with Emerald Health Sciences Inc. ("Sciences"), a creditor and major shareholder of Therapeutics at a price of $0.205 per Unit which was previously announced in a press release dated August 8, 2016. Each Unit will consist of one common share and one common share purchase warrant (a "Warrant").  Each Warrant will entitle the holder thereof to acquire an additional common share at a price of $0.27 per share for a period of two years from the closing date.

The Company has also completed the issuance of 4,494,955 common shares at a deemed price of $0.205 per share to Sciences pursuant to a debt settlement agreement (the "Agreement") as announced in a press release dated August 8, 2016 and as approved by the TSX Venture Exchange. The total amount of indebtedness settled by the Agreement was $921,465 incurred pursuant to a previously announced loan agreement and for management services.

In accordance with applicable securities laws, the common shares (the "Shares") issued to Sciences are subject to a 4-month hold period from the date of issuance. As a result of the issuance of the Shares to Sciences, Sciences now holds an aggregate of 39,030,937 Shares, representing 62.2% of the issued and outstanding common shares of Therapeutics. Assuming the exercise of the Warrants, Sciences would hold an aggregate of 43,108,624 Shares representing approximately 64.5% of the issued and outstanding common shares of Therapeutics (on a partially-diluted basis giving effect only to the exercise of the Warrants).

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics wholly owns Emerald Health Botanicals. Emerald Health Botanicals holds a License under the Access to Cannabis for Medical Purposes Regulations (Canada) to cultivate and sell medical cannabis out of its facility located in Victoria, British Columbia. It also holds a Supplemental License to produce and sell medical cannabis oils.    


"Avtar Dhillon"
Executive Chairman

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Emerald Health Therapeutics, Inc.

For further information: Please contact Sandy Pratt at 250-818-9838 or invest@emerald.care.

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Emerald Health Therapeutics, Inc.

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