Aleafia Submits Application to List on NASDAQ
02 October 2018 - 10:26PM
Up-Listing to NASDAQ to Provide Greater
Exposure to U.S. Investors
Aleafia Health Inc. (
TSXV: ALEF; OTCQX: ALEAF, FRA:
ARAH) (“
Aleafia“) or (the “Company“), one
of Canada’s leading, vertically integrated cannabis companies, is
announcing that it has submitted a finalized application to list
its common shares on the NASDAQ.
Listing on a major United States stock exchange will provide
unparalleled liquidity and place Aleafia among a small handful of
Canadian cannabis companies. The U.S. based NASDAQ stock market is
the second largest stock exchange by market capitalization.
Aleafia also intends to submit a Form 40-F, a requirement for
Canadian companies to register securities it intends to offer on
U.S. markets, to the Securities and Exchange Commission (SEC) later
this week. The listing remains subject to NASDAQ and SEC
approval.
“Listing on the NASDAQ is another step as we continue to execute
on our stated goal of attaining a global leadership position in the
cannabis space,” said Aleafia Chairman Julian Fantino.
“Management believes that listing on the NASDAQ will help to
broaden our shareholder base, increase appeal to institutional
investors, provide shareholders with better liquidity and,
ultimately increase shareholder value, allowing Aleafia to rapidly
accelerate our business strategy,” said Aleafia CEO Geoffrey
Benic.
Aleafia’s common shares will continue to trade on the OTCQB
under the ticker symbol “ALEAF” until NASDAQ approval and
up-listing. Aleafia’s common shares will also continue to trade on
the TSX Venture Exchange ("TSXV") under the ticker symbol "ALEF"
post-NASDAQ up-listing.
Aleafia Highlights:
- 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 to be reached in 2019
- Signed supply MOU with CannTrust Holdings Inc. for up 15,000 kg
of cannabis in 2019
- Planning of Aleafia’s Port Perry expansion underway, with all
production options on the table, including an innovative, ultra
low-cost outdoor grow
- Reached milestone of 50,000 medical cannabis patients
- Secured first medical cannabis sale in company’s history, only
days after securing Sales Licence from Health Canada
- Added to Horizons Marijuana Life Sciences ETF, the largest
cannabis ETF in the world
For Investor Relations & Media
Relations:
Nicholas Bergamini, VP Public
AffairsIR@AleafiaInc.com
About Aleafia Health Inc.:
Aleafia is a leading, vertically integrated cannabis company
with major cannabis cultivation & processing and medical
cannabis clinics business operations. Aleafia owns two cannabis
cultivation facilities, one of which is licensed and fully
operational and one which will be fully operational in late 2018.
Aleafia will reach a fully-funded annual growing capacity of 38,000
kg in 2019. Canabo Medical Clinics are the largest brick and mortar
medical cannabis clinic network in Canada with 22 locations and
over 50,000 patients.
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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