Aleafia Completes Second Harvest with Sale to Licensed Producer Imminent
12 September 2018 - 9:00PM
Clinic Operations and Cannabis Sales Providing Immediate
Multiple Income Streams
Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH)
(“Aleafia“) or (the “Company“), one of Canada’s leading, vertically
integrated medical cannabis companies, is announcing that it has
completed its second harvest at its Port Perry cultivation
facility.
The crop will be sold to a licensed producer in the near term,
providing further immediate revenue for Aleafia. The company also
completed its first sale of high-quality medical cannabis earlier
this week, in a transaction with CannTrust Holdings Inc. (TSX:
TRST) (“CannTrust”).
Aleafia Cannabis Production Update:
- 160,000 sq. ft. Niagara greenhouse retrofitting on schedule and
expected to be complete in late 2018
- Fully funded annual growing capacity of 38,000 kg of cannabis
flower
- Planning of Aleafia’s 150,000 sq. ft. Port Perry expansion
underway, with all production options on the table, including an
innovative, low-cost outdoor grow
- Secured first medical cannabis sale in company’s history, only
days after securing Sales Licence from Health Canada
“The significant production improvements made in Aleafia’s
second harvest speaks to the skillset of our excellent cultivation
team and our relentless focus on producing high quality product for
medical cannabis patients,” said Aleafia Chairman Julian
Fantino.
“We have invested in building two modern, automated, low-cost
production facilities and that decision is yielding immediate
results with our second harvest now complete,” said Aleafia CEO
Geoffrey Benic. “The exponential growth achieved by our company
will ensure we continue to provide sustained long-term value for
both our patients and shareholders.”
For Investor Relations, please contact:
IR@AleafiaInc.com For Media Relations, please
contact:
Nicholas Bergamini, VP Public Affairs416-860-5665 ext.
224Media@AleafiaInc.com
About Aleafia Health Inc.:Aleafia is a leading,
vertically integrated medical cannabis company with a unique focus
on delivering quality patient care from “seed” to “sale.” Aleafia
is uniquely positioned with a singular focus on the medical
cannabis market. The company operates the largest brick and mortar
medicinal cannabis clinic network in Canada under the Canabo
Medical Clinic brand, which is staffed by licensed, practicing
physicians. Aleafia has obtained over 50,000 unique patients and
maintains the largest medical cannabis patient data set in Canada.
Aleafia’s state of the art production facilities will allow for the
production of high- quality strains at low cost. Aleafia’s
production will focus on securing the highest- quality medicinal
product for its growing patient base.
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.
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