B.C.-based Emerald Health Therapeutics, Inc. has let it be known that it is seeking buyers for its recreational and medicinal cannabis operations after making the decision to exit the space.
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Given the pharmaceutical experience on the company’s board, moving forward Emerald Health “intends to maximize its cash position and seek business opportunities in pharmaceutical development,” the company reported this week.
“In a market with a very large number of cannabis operating licences, increasing competition and declining retail prices, the path to achieving profitability and increasing shareholder value has been very challenging,” Jim Heppell, chairman of Emerald’s Board of Directors, says in the statement.
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