Aleafia, Serruya Family Extend Exclusivity Period for Retail and Brand Joint-Venture
26 October 2018 - 10:00PM
Major Adult-Use Retail, Brand JV Backed by
Family Behind Iconic Yogen Früz, Second Cup Brands
Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH)
(“Aleafia“) or (the “Company“), a highly differentiated cannabis
company with major cannabis cultivation, medical clinic and R&D
operations has extended the exclusivity period for the proposed
adult-use retail and brands joint-venture (“JV”) with the
Serruya Family (the “Serruya Family”), by a further two
weeks.
The JV marks the first phase of a multi-phase strategy that will
see Aleafia enter the adult-use cannabis industry and related
retail operations in Canada and globally. This will
create the foundation for the adult-use business pillar, joining
Aleafia’s existing business pillars - cannabis cultivation, medical
clinics and R&D.
“This joint venture positions Aleafia to capture significant
national market share in the adult-use cannabis market in Canada.
The Serruya family are excellent retail entrepreneurs with a proven
track record in quickly scaling their businesses to global
proportions,” said Aleafia CEO Geoffrey Benic. “Aleafia is pleased
to continue discussions aimed at providing a significant net
benefit to both parties and subsequently providing long-term value
to our shareholders.”
JV Highlights:
- Backed and supported by Aaron Serruya, president of
International Franchise Inc. which has over 4500 quick service
restaurant locations in over 50 countries
- Licensing agreements with established international cannabis
brands upon store launch
- Turn-key operation with ready-made store design and retail
systems in place
- Intellectual property including genetics and packaging
- Vertical integration, with Aleafia cultivation facilities
producing cannabis for processing, extraction, packaging and
eventual listing in retail locations
Aleafia Operational Update:
- 160,000 sq. ft. Niagara greenhouse retrofitting on schedule and
expected to be complete in late 2018
- Fully funded annual growing capacity of 98,000 kg of cannabis
flower in 2019
- Signed supply agreement for CannTrust Holdings Inc. to purchase
up to 15,000 kg of cannabis from Aleafia in 2019
- Reached milestone of 50,000 medical patients under the Canabo
Medical Clinic network
- Local approval for a 30 acre, 60,000 kg secure outdoor grow
expansion at our Port Perry cultivation facility
- 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
- Submitted application to list common shares on the NASDAQ stock
exchange
For Investor & Media Relations, please
contact:Nicholas Bergamini, VP Public
AffairsIR@AleafiaInc.com
About Aleafia Health Inc.:
Aleafia is a vertically integrated, national cannabis company
with major medical clinic, cannabis cultivation and R&D
operations. The company is a federally licensed producer and vendor
of cannabis and will reach an annual production capacity of 98,000
kg of dried cannabis in 2019.
Aleafia operates 22 medical cannabis clinics staffed by
physicians and nurse practitioners, with over 50,000 patients. The
company is highly differentiated, maintaining the largest medical
cannabis dataset in the world, with significant intellectual
property holdings and current R&D operations.
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.
Aleafia Health (TSXV:ALEF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Aleafia Health (TSXV:ALEF)
Historical Stock Chart
From Jul 2023 to Jul 2024