Vancouver, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Emerald Health Sciences Inc. (the “Acquiror”) announces that on May 22, 2018, it sold, through a secondary offering, 2,000,000 common shares (the “Shares”) of Emerald Health Therapeutics, Inc. (the “Issuer”) of PO Box 24076, 4420 West Saanich Road, Victoria, British Columbia, V8Z 7E7.
Immediately before the transaction that triggered the requirement to file this report, the Acquiror had ownership of 45,234,242 Shares, representing approximately 34.4% of then issued and outstanding Shares. Following the transaction that triggered the requirement to file this report, the Acquiror held direct ownership of 43,234,242 Shares representing approximately 31.9% of the then issued and outstanding Shares. The Acquiror also holds 4,411,764 common share purchase warrants (the “Warrants”). Assuming the exercise of the Warrants, the Acquiror would own 47,646,006 Shares representing approximately 33.1% of the issued and outstanding Shares (on a partially-diluted basis giving effect only to the exercise of the Warrants).
The Acquiror disposed of the Shares for investment purposes. The Acquiror may sell additional Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by the Acquiror in connection with the acquisition of the Shares is available on the Issuer’s SEDAR profile, and it can also be obtained directly from the Acquiror by contacting the number shown above.
EMERALD HEALTH SCIENCES INC.
Stephen Hall, Chief Financial Officer
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