Emerald partners with HYTN to sell and distribute HYTN's calorie-free, fast-acting THC-infused sparkling cannabis beverages as new alternative in the rapidly growing cannabis beverage market
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2021) - Emerald Health Therapeutics, Inc. (CSE: EMH) (OTCQX: EMHTF) ("Emerald") and HYTN Cannabis Inc. ("HYTN") have signed a definitive agreement under which Emerald will co-launch, sell and distribute HYTN's proprietary new sparkling cannabis beverages, which employ fast-acting Elevation Technology®, across Canada. This partnership will leverage Emerald's established cannabis sales license, sales team and infrastructure, and provincial cannabis wholesale and retail distribution relationships to sell HYTN's products. Emerald will receive a double-digit percentage fee on total gross sales revenue (less excise tax) of HYTN products in Canada.
HYTN intends to launch its cannabis beverages this quarter. Emerald has secured an initial purchase order for HYTN cannabis beverages in British Columbia.
HYTN's proprietary Elevation Technology® combines nanoemulsification technology with a proprietary process to deliver consistent and stable active cannabis emulsions, allowing HYTN to deliver a more consistent product experience with fast and predictable onset and offset of effects. HYTN's proprietary process results in clear, odorless cannabis emulsions that blend flawlessly into finished beverages.
HYTN's initial product line of THC-infused sparkling water combines all-natural ingredients with zero calories and zero carbs. The products are sugar-free and gluten-free, with 10 mg of THC per 355 ml container (5 mg of THC for the planned market launch in Quebec). The initial product flavours are Blood Orange, Lemongrass Ginger, Rosewater Lemonade and Watermelon Mint.
"Partnering with Emerald allows us to rapidly reach a national audience which is looking for better tasting, better acting and better formulated cannabis 2.0 products. Our singular objective is to be the market leader in cannabis beverages and are confident HYTN 's Elevation Technology® combined with a taste profile and format consumers are familiar with will help drive continuing growth of this market segment," said Elliot McKerr, CEO of HYTN. "With the unique positioning of this product line, we look forward to leveraging Emerald's well-established nation-wide provincial distribution relationships and sales team to launch and grow our business in Canada."
"The HYTN team's expertise and focused effort has resulted in a beverage product line that taps into multiple consumer trends and leverages proprietary technology. We believe this cannabis beverage product line is well-positioned for success and fits well with Emerald's focus on science- driven product innovation," said Riaz Bandali, President and Chief Executive Officer of Emerald. "We look forward to seeing HYTN products on store shelves before year-end."
About HYTN
HYTN produces innovative consumer products by combining breakthrough technologies with carefully crafted beverages and edibles. HYTN products allow consumers to experience cannabis in a new, more appealing way.
HYTN was created by experts with extensive beverage, alcohol, and other complementary expertise. CEO Elliot McKerr's extensive beverage background in new product creation, marketing and category management coupled with COO Jason Broome's cannabis operations and quality systems expertise round out a full team with extensive CPG and service industry expertise.
HYTN has a purpose-built and licensed manufacturing facility in Kelowna, BC, to manufacture its beverages, nanoemulsions, edibles, and topicals for the Canadian market.
About Emerald Health Therapeutics, Inc.
Emerald is committed to creating new consumer experiences with distinct recreational, medical and wellness-oriented cannabis products, with an emphasis on science-based innovation and product excellence.
Please visit www.emeraldhealth.ca for more information or contact:
Riaz Bandali, Chief Executive Officer
1(800) 757 3536 Ext. #5
Emerald Investor Relations
(800) 757 3536 Ext. #5
invest@emeraldhealth.ca
Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. Such statements include: the sale of cannabis beverage products; and the success of the partnership between Emerald and HYTN.
We cannot guarantee that any forward-looking statement will materialize, and readers are cautioned not to place undue reliance on these forward-looking statements. Such statements include uncertainty as a result of COVID-19 including any continued impact on production or operations; changes of law and regulations; changes of government; failure to obtain regulatory approvals; regulatory changes; receipt of amounts owing to Emerald; strategic development of Emerald; production and processing capacity of various facilities; expansion of facilities; failure to obtain necessary financing; results of scientific research; expectations around market and consumer demand and other patterns related to existing, new and planned product forms; timing for launch and shipment of new and existing product forms; ability of new product forms to capture sales and market share; results of production and sale activities; sales volumes; estimates around incremental sales and more generally estimates or predictions of actions of customers, suppliers, partners, distributors, competitors or regulatory authorities; changes in prices and costs of inputs; demand for labour; demand for products; failure of counter-parties to perform contractual obligations; statements regarding the future market of the Canadian cannabis market; statements regarding Emerald's future economic performance; as well as the risk factors described in Emerald's annual information form and other regulatory filings. These statements are not historical facts but instead represent management beliefs regarding future events, many of which, by their nature are inherently uncertain and beyond management control.
The forward-looking statements contained in this press release represent our expectations as of the date hereof. Forward-looking statements are presented for the purpose of providing information about management's current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Emerald undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.
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