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Emerald Health Therapeutics Leaving 'Saturated' Cannabis Market, Will Focus On Pharmaceuticals

Emerald Health Therapeutics Leaving 'Saturated' Cannabis Market, Will Focus On Pharmaceuticals

Emerald Health Treatetics离开“饱和”的大麻市场,将专注于制药
Benzinga Real-time News ·  2021/11/30 01:40

Emerald Health Therapeutics, Inc. (CSE:EMH) (OTCQX:EMHTF) announced Monday that it is getting out of the recreational and medical cannabis industry and pivoting to pharmaceutical development. The company also announced its president and CEO, Riaz Bandali has resigned.

Emerald Health Treateutics,Inc.(CSE:EMH)(OTCQX:EMHTF)周一宣布它正在走出娱乐和医用大麻行业,转向制药开发。。该公司还宣布了总裁兼首席执行官,里亚兹·班达利已经辞职了。

The Vancouver, British Columbia-based company plans to find buyers for its recreational and medical cannabis assets to further strengthen its already strong capital position and to significantly cut costs to reduce its monthly net burn.

这家总部位于不列颠哥伦比亚省温哥华的公司计划为其娱乐和医用大麻资产寻找买家,以进一步加强其本已雄厚的资本状况并大幅削减成本,以减少每月的净消耗。

Emerald also intends to maximize its cash position and seek business opportunities in pharmaceutical development where its board has significant expertise. The company has agreed to retain Vantage Point Advisors to assist it in identifying potential acquisition/merger candidates involved in pharmaceutical development and to carry out due diligence on selected candidates. Vantage Point Advisors is an independent, arm's-length business valuation firm with offices in New York, Los Angeles, San Diego, Portland, Seattle and Dallas-Fort Worth.

翡翠也打算将现金头寸最大化,并在制药开发领域寻求商机它的董事会拥有丰富的专业知识。该公司已同意保留Vantage Point Advisors,协助其确定潜在的收购/合并候选者参与制药开发,并对选定的候选人进行尽职调查。Vantage Point Advisors是一家独立的独立商业估值公司,在纽约、洛杉矶、圣地亚哥、波特兰、西雅图和达拉斯-沃斯堡设有办事处。

New Business Path
"Our management team and staff have shown exemplary commitment and effort in advancing Emerald's cannabis business, but in a market with a very large number of cannabis operating licenses, increasing competition and declining retail prices, the path to achieving profitability and increasing shareholder value has been very challenging," said Jim Heppell, chairman of Emerald's board of directors. "Instead of committing additional capital and effort to focus on this very challenging and saturated market, the board has decided that Emerald shareholders would be better served by the company exiting the recreational and medical cannabis business and pivoting into pharmaceutical development. We will now set out on a new business path that we believe has much greater potential to increase shareholder value." 

新的业务路径
他说:“我们的管理团队和员工在推进Emerald的大麻业务方面表现出了模范的承诺和努力,但在一个拥有大量大麻经营许可证、竞争日益激烈和零售价格不断下降的市场中,实现盈利和增加股东价值的道路非常具有挑战性。”吉姆·赫佩尔,翡翠公司董事会主席。“董事会认为,Emerald公司退出娱乐和医疗大麻业务,转而从事制药开发,将更好地服务于这个极具挑战性和饱和的市场,而不是投入额外的资本和努力。我们现在将开始走上一条我们认为有更大潜力增加股东价值的新业务道路。”

In addition, the company noted that the company will file its Q3 financial results on Monday, November 29.

此外,该公司还指出,该公司将于11月29日(星期一)提交第三季度财务业绩。

Price Action

价格行动

Emerald Health's shares traded 2.63% higher at $0.06 per share at the time of writing Monday morning.

撰写本文时,Emerald Health的股价周一上午上涨2.63%,至每股0.06美元。

Photo: Courtesy of Dongki Koh on Unsplash

图片:Unspash上的Koh Donki提供

译文内容由第三方软件翻译。


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