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Emerald Health's subsidiary Verdélite Sciences settles sale litigation

The legal claims brought by Pivot Pharmaceuticals over Verdélite's potential sale have been discharged

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Verdélite runs a 75,000 square feet indoor cannabis cultivation facility in St.Eustache, Quebec

Cannabis company Emerald Health Therapeutics Inc (CVE:EMH) (OTCQX:EMHTF) announced Wednesday that its subsidiary Verdélite Sciences Inc has settled all legal claims made against it by Pivot Pharmaceuticals Inc.

The claims related to a non-binding letter of intent which Verdélite and its former shareholders had previously entered into with Pivot with respect to a potential sale of Verdélite.

READ: Emerald Health Therapeutics completes setting up of Emerald Health Naturals joint venture

Thanks to the settlement, all claims against Verdélite have been discharged without Verdélite making any payment or providing compensation to Pivot.

Vancouver-based Emerald Health is a licensed producer of cannabis. Its Verdélite operation in Quebec runs a 75,000 square feet indoor cannabis cultivation facility in St. Eustache, Quebec.

Emerald Health shares closed up 3.3% to hit C$3.45 on Tuesday.

Contact Ellen Kelleher at [email protected]

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TSX-V:EMH
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Market Cap: $86.68 m
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