Vancouver-based cannabis company Emerald Health Therapeutics Inc’s (CVE:EMH) (OTCQX:EMHTF) announced Thursday that it has completed the setting up of Emerald Health Naturals, its 51:49 joint venture with San Diego-based Emerald Health Bioceuticals.
Emerald Health Therapeutics has invested C$5 million for a 51% equity ownership of Emerald Health Naturals while Emerald Health Bioceuticals granted exclusive Canadian distribution rights to its product line in exchange for a 49% equity stake in the joint venture.
Emerald Health Bioceutical’s product line consists of nutritional supplements that use non-cannabis, non-psychoactive plant-based bioactive compounds to support the body’s endocannabinoid system.
The products, including Endo Sleep, Endo Inflame, Endo Brain, Endo Bliss and Endo Calm, were designed to treat stress, anxiety, restless sleep, pain and other conditions using non-cannabis ingredients.
“We have the unique opportunity to brand Emerald through Emerald Health Naturals offering of the Endo product line through a number of valuable sales channels that are frequently visited by cannabis users but which cannot currently sell cannabis products,” Executive Chairman Avtar Dhillon told Proactive Investors.
Emerald Health is a licensed producer authorized by Health Canada to grow, sell and produce cannabis across the country.
Emerald also recently strengthened its intellectual property portfolio via a partnership with the cannabis-focused research facility VivaCell Biotechnologies. The institute will work with Emerald Health to evaluate formulas and determine consistent dosages as the company continues to develop medical and recreational cannabis products.
Contact Uttara Choudhury at [email protected]