TORONTO, July 9, 2018 /CNW/ - Aleafia Health Inc.
(TSXV: ALEF) (OTCQX: ALEAF) ("Aleafia") or (the
"Company"), one of Canada's leading, vertically
integrated medical cannabis companies with a unique
patient-focused, healthcare solution, is pleased to provide an
update further to the press release dated July 6, 2018, on the acquisition of the 160,000
square foot cultivation facility located in Grimsby, Ontario.
Aleafia is pleased to report that the zoning variance required
by Aleafia for the Grimsby
facility was accepted and passed late Friday afternoon. As
previously disclosed, the Company expects to close on the
transaction in late July, after completion of the 20 day appeal
process.
Since executing the agreement to acquire the facility, Aleafia
has been meticulously working through the due diligence process and
has found that the facility is expected to provide even more value
from a cultivation perspective than initially anticipated.
Working with well respected engineers and contractors in the
cannabis cultivation space, Aleafia has found that the facility, in
its current state, is expected to be up and running sooner than
anticipated and under the budget originally developed.
"Having only been working with the Aleafia team a very short
time, I am pleased to find that as I dig deeper into the inner
workings of the company, the foundation for growth is unlimited."
said Geoff Benic, CEO. "Getting
intimately familiar with the new facility has given me comfort in
our ability to continue to grow our company both organically and by
way of additional acquisitions."
At the meeting late Friday afternoon, Mr. Benic addressed the
Grimsby town council, thanked them
for their support and reiterated Aleafia's continued mission to be
leading corporate citizens while supporting the local economy.
For more information, please go to http://www.aleafiainc.com
About Aleafia Health Inc.:
Aleafia Health Inc. is one of Canada's leading,
vertically integrated medical cannabis companies with a unique
patient-focused, medical cannabis healthcare solution. Led by a
distinguished and experienced corporate leadership
team, Aleafia Health Inc. is pioneering a patient-centric
experience that includes personalized services before, during
and after treatment. Aleafia's 22 cannabis clinics are staffed
by licensed, practicing physicians. Aleafia Health Inc.
has realized sustained patient acquisition growth and retention,
underscoring the success of Canada's first
"patient-centric" cannabis-based health network.
Neither Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. The forward-looking statements and information in this
press release includes information relating to the implementation
of Aleafia Health's business plan. Such statements and
information reflect the current view of the Company with respect to
risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking
statements and information.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among
others, the following risks: risks associated with the
implementation of Aleafia Health's business plan and matters
relating thereto, risks associated with the cannabis industry,
competition, regulatory change, the need for additional financing,
reliance on key personnel, the potential for conflicts of interest
among certain officers or directors, and the volatility of the
Company's common share price and volume. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and the Company
undertakes no obligation to update forward-looking statements if
these beliefs, estimates and opinions or other circumstances should
change. Investors are cautioned against attributing undue
certainty to forward-looking statements.
There are a number of important factors that could cause the
Company's actual results to differ materially from those indicated
or implied by forward-looking statements and information. Such
factors include, among others, risks related to Aleafia Health's
proposed business, such as failure of the business strategy and
government regulation; risks related to Aleafia Health's
operations, such as additional financing requirements and access to
capital, reliance on key and qualified personnel, insurance,
competition, intellectual property and reliable supply chains;
risks related to Aleafia and its business generally. The Company
cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. The Company has assumed a
certain progression, which may not be realized. It has also assumed
that the material factors referred to in the previous paragraph
will not cause such forward-looking statements and information to
differ materially from actual results or events. However, the list
of these factors is not exhaustive and is subject to change and
there can be no assurance that such assumptions will reflect the
actual outcome of such items or factors. While the Company may
elect to, it does not undertake to update this information at any
particular time.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
SOURCE Aleafia Inc.