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.
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]