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Embark Health 20/08/2020

Embark Health Inc. Announces Date of 2020 Annual and Special Meeting and Business Update

Toronto, Ontario—(August 19, 2020) –

Embark Health Inc.  (“Embark” or the “Company”), today announced that the 2020 Annual and Special Meeting of Shareholders (the “AGM”) will be held on September 9, 2020 at 1:00pm EDT. Further details regarding the AGM are included in the meeting materials that have been mailed to each registered shareholder of Embark.  

Business Update

Embark continues to focus on delivering its strategic priorities. In the first half of 2020, the Company has made significant progress in operationalizing the Delta facility. B2B Solventless 2.0 product sales commenced in May of 2020. B2B Sales have continued to scale throughout the summer. Embark has continued to increase capacity and production capabilities, expanding its customer network, increasing product innovation and submitting its Sales Licence Amendment and Provincial Product Sales Applications. Embark believes that focusing on these priorities will generate long-term shareholder value and accelerate the path to profitability.

Enhance Supply and Production Capabilities 

Embark continues its measured and disciplined approach to capacity expansion and production capabilities by ensuring initiatives pursued are cost effective and will be capable of meeting growing consumer demand for 2.0 products.

Commissioning of the Solventless Extraction equipment for the Delta facility took place in March and April in preparation for May B2B sales. Production lines include Ice Water Extraction, DrySift Extraction in conjunction with Pressing Lines for Rosin and Traditional Pressed Hash.

Create an Extensive Client & Customer Network

Embark Delta has completed the submission of its federal sales licence amendment to Health Canada as part of Sales Licence path forward. Embark has also completed the submission of several provincial applications for the sale of adult-use 2.0 products; most notably in Alberta and British Columbia.

“The submission of our sales licence amendment is significant as it represents the successful operationalization of Embark’s extraction and product manufacturing capabilities. Since receiving our processing licence from Health Canada on February 7, 2020, Embark has manufactured Bubble Hash, Traditional Pressed Hash, DrySift and Rosin destined for the adult-use market in Canada,” said Dr. Luc C. Duchesne, CEO of Embark.

The manufacturing of solventless 2.0 products forms the basis of Embark’s Health Canada sales licence submission package. Embark is committed to continuous improvement and achieving the highest standard of product quality. Currently, Embark is able to provide B2B client tolling and white labeling services for multiple solventless products.

“These are significant milestones for Embark as we expand production capacity.  Our B2B orders continue to fill our capacity and, upon approval, the sales licence and provincial approvals will allow us to offer a wider range of services and channels to our clients and Embark for the production and distribution of 2.0 products,” said Dr. Luc C. Duchesne, CEO of Embark.

Build an IP and Innovation-Driven Branded Organization

Embark has a strong commitment to innovation throughout its value chain. The Company is continuing to gather internal data as well as leverage market research and insights as a foundation for the development of products with a competitive edge and high margins. We plan for changing market parameters as consumers change their product preference and other processors come online.

Embark has a strong portfolio of solventless 2.0 products such as Bubble Hash, Pressed Hash, Rosin, Live Rosin and Dry Sift that are in demand across Canada. Embark continues to enter into product supply agreements for tolling and contract manufacturing and packaging.

Embark continues to build out it’s brand portfolio with the Hank and Hazel Brands. Following the completion of the previously announced Axiomm acquisition, Embark will build out the Axiomm brand with its nano-emulsification technology and formulations for topicals, edibles and beverages in the adult-use market.

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