Skye Bioscience, Inc. — Director's Dealing 2020

Jan 28, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Emerald Bioscience, Inc. (EMBI)
CIK: 0001516551
Period of Report: 2019-12-20-07:00

Reporting Person: Emerald Health Sciences Inc. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-12-20-07:00	Common Stock	J	40800000	$4080000	Acquired	126490167	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-12-20-07:00	Warrant(Right to Buy)	$0.1	J	40800000	Disposed	2023-01-18-07:00	Common Stock (40800000)	Direct
2019-12-20-07:00	7% Convertible Debt	$0.4	J	4080000	Disposed		Common Stock (10200000)	Direct

Footnotes

F1: On 12/20/2019, the Issuer and the Reporting Person entered into a Warrant Exercise Agreement, pursuant to which the Reporting Person exercised warrants to purchase 40,800,000 shares of Common Stock for an exercise price of $4,080,000. The warrants were issued to the Reporting Person as of 1/18/2018 and 2/16/2018, exercisable over 5 years at $0.10 per share. The exercise price for the warrant shares was paid in the form of a reduction of the corresponding amount of outstanding obligations of the Issuer under the Multi Draw Credit Agreement between the Issuer and the Reporting Person (the "Credit Agreement"), thereby reducing the outstanding principal balance, excluding the debt discount, under the Credit Agreement to $2,014,500.

F2: Consists of (i) 113,953,917 shares of Common Stock; (ii) 7,500,000 shares of Common Stock issuable upon exercise of warrants; and (iii)
5,036,250 shares of Common Stock issuable upon conversion of the outstanding principal and accrued interest associated with the Credit
Agreement.