Emerald Health Therapeutics Announces Completion of Private Placement

VICTORIA, BC, Nov. 16, 2016 /CNW/ - Emerald Health Therapeutics Inc. (TSXV: EMH) ("Therapeutics") announced today that it has completed its previously announced private placement (the "Offering") of 4,411,764 units (a "Unit") of the Company with Emerald Health Sciences Inc. ("Sciences"), a creditor and major shareholder of Therapeutics at a price of $0.68 per Unit. Each Unit will consist of one common share (each, a "Share") and one common share purchase warrant with each warrant entitling the holder thereof to acquire an additional Share of Therapeutics at a price of $0.85 per share for a period of five years from the closing date.

In accordance with applicable securities laws, the Shares issued to Sciences are subject to a 4-month hold period from the date of issuance. As a result of the closing of the Offering, Sciences now holds an aggregate of 45,646,555 Shares, representing 67.5% of the issued and outstanding common shares of Therapeutics and 8,489,451 common share purchase warrants (each, a "Warrant"). Assuming the exercise of the Warrants, Sciences would hold an aggregate of 54,136,006 Shares representing approximately 71.2% of the issued and outstanding common shares of Therapeutics (on a partially-diluted basis giving effect only to the exercise of the Warrants).

As Sciences is an insider of the Company, the participation in the Offering is considered to be a "related party transaction", as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a).


"Avtar Dhillon"
Executive Chairman

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.

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 invest@emerald.care


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