Emerald Health Therapeutics Inc (CVE:EMH, OTCMKTS:EMHTF) said Monday that it has received conditional approval from the TSX Venture Exchange for its joint venture with San Diego-based Emerald Health Bioceuticals (EHB).
Vancouver-based Emerald Health Therapeutics will invest C$5 million for a 51% equity stake in the joint venture, known as Emerald Health Naturals.
EHB will grant the joint venture exclusive Canadian distribution rights to its product line in exchange for 49% equity ownership. EHB’s products consist of nutritional supplements that use non-cannabis, non-psychoactive plant-based bioactive compounds to support the body’s endocannabinoid system of neurotransmitters that bind to cannabinoid receptors.
Market research commissioned by Emerald Health Therapeutics has found that about 60% of legal cannabis users also use natural health products.
Shares of Emerald Health Therapeutics slipped C$0.18 to C$3.74 in Canada. They slipped US$0.16 to US$2.84 in OTC trading.
Contact Dennis Fitzgerald at [email protected]