Aleafia Announces Special Meeting of Shareholders
07 November 2018 - 11:00PM
Aleafia Health Inc. (
TSXV: ALEF; OTCQX: ALEAF, FRA:
ARAH) (“
Aleafia“) or (the
“
Company“) is announcing that it will hold a
special meeting (the “
Meeting”) of shareholders on
Thursday, December 6, 2018 at 9:00 a.m. (Toronto time) at Famee
Furlane Club – Friuli Hall, 7065 Islington Avenue, Woodbridge, ON.
L4L 1V9.
“Listing on the NASDAQ is another step as we continue the
relentless execution of our stated goal of attaining a global
leadership position in the cannabis space," said Aleafia Chairman
Julian Fantino.
"Asking shareholders to approve a range for a possible share
consolidation will provide management the flexibility to adjust the
number of shares, but only if necessary, to achieve the
minimum bid price requirements to complete our NASDAQ listing
process," said Aleafia CEO Geoffrey Benic. "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."
The meeting has been called for the following purposes:
- To consider and, if thought appropriate, to pass a special
resolution approving the consolidation of the Company’s issued and
outstanding common shares on a consolidation ratio of up to four
(4) pre-consolidation common shares to one (1) post-consolidation
common share;
- The company believes that the share consolidation, if effected
at all, would have a maximum of up to a 4:1
basis to assist in meeting minimum share price
requirements of the NASDAQ listing which the company has
applied for;
- Current issued and outstanding common shares for the Company
are 145,518,851; if approved and effected, the issued and
outstanding common
shares on a post-consolidation basis would have
a maximum effect of the company having a total number of shares
issued of 36,379,712;
- The Company would like to note that a share consolidation will
not have an effect on the percentage ownership of each respective
shareholder, as all common shares, and common share derivatives,
would be subject to the same consolidation;
- The Company believes that the post-consolidation market price
per common share will make investing in the Company more attractive
to a broader range of institutional investors and other members of
the investing public;
- The share consolidation is subject to shareholder approval and
Exchange acceptance;
- To consider and, if thought appropriate, to pass an ordinary
resolution to approve certain amendments to the Company’s stock
option plan;
- To consider and, if thought appropriate, to pass an ordinary
resolution to approve certain amendments to the Company’s
restricted share unit plan; and
- To transact any other business that may properly come before
the Meeting.
Full details of the Meeting are set out in the Management
Information Circular (the “Circular”) dated
November 6, 2018. A copy of the Circular and other meeting
materials can be found under the Company’s profile on SEDAR
at www.sedar.com.
For Investor & Media Relations, please
contact:Nicholas Bergamini, VP, Public Affairs
IR@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.
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