CannaPacific Also Closes its Acquisition of
108,000 sq. ft. Greenhouse for Cannabis CultivationAustralian LP is
Federally Licensed to Cultivate and Research Cannabis
Aleafia Health Inc. (TSX: ALEF, OTC: ALEAF, FRA: ARAH)
(“
Aleafia Health” or the
“
Company”) has increased its strategic investment
in CannaPacific Pty. Limited (“
CannaPacific”), a
medical cannabis company that is federally licensed to cultivate
and research cannabis in Australia.
Aleafia Health further invested AU$540,000 in
ordinary shares of CannaPacific in connection with CannaPacific’s
AU$4,500,000 capital financing.
The strategic investment immediately follows the
closing of CannaPacific’s acquisition of a 108,000 sq. ft.
greenhouse located in the iconic Byron Bay region of New South
Wales, Australia. The greenhouse facility will be used for cannabis
cultivation grown for eventual sale to medical patients and global
export. CannaPacific’s management is composed of veterans of
medicine, pharmaceutical manufacturing and sales, oncology,
hospital management, plant science and cannabis cultivation.
CannaPacific also intends to leverage Aleafia
Health’s global cannabis health and wellness ecosystem across the
Company’s four divisions:
- Aleafia Campus: Starter plant material
(pending regulatory approval) and facility build-out expertise to
accelerate cannabis cultivation
- Health & Wellness Clinics: Medical clinic
expertise, including access to Electronic Medical Record (EMR)
systems along with physician and patient recruitment
- FoliEdge Academy: Access to the Company’s
proprietary online cannabis education platform developed with
unique courses developed for physicians, patients, employers and
healthcare institutions
- eCommerce Consumer Marketplace: Access to
Aleafia Health’s soon to be launched proprietary cannabis consumer
experience marketplace, built for global scale with
multi-jurisdiction compliance, multi-language and
multi-currency
“With an experienced management team, major
cultivation assets, along with Aleafia Health’s cross platform
expertise in clinic operations, product development and online
sales, CannaPacific is poised to seize on its early mover advantage
in the Australian medical cannabis market,” said Aleafia Health CEO
Geoffrey Benic.
“We are delighted to have Aleafia Health as a strategic
investor,” said CannaPacific CEO Joshua Dennis. “With the closing
of our 108,000 sq. ft. greenhouse facility and strategic
relationship with a medical cannabis leader, we expect to
accelerate our first to market strategy in Australia along with our
objective of becoming a major exporter of medical cannabis
products.”
For Investor & Media Relations, please
contact:
Nicholas Bergamini, VP Public Affairs
416-860-5665IR@AleafiaHealth.com
About Aleafia Health:
Aleafia Health is a leading, vertically
integrated cannabis health and wellness company with four primary
business units: Cannabis Cultivation & Products, Health &
Wellness Clinics, Cannabis Education, and Consumer Experience with
ecommerce, retail distribution and provincial supply
agreements.
Aleafia Health owns three major cannabis product
& cultivation, two of which are licensed and operational. The
Company produces a diverse portfolio of commercially proven,
high-margin derivative products including oils, capsules and
sprays. Aleafia Health operates the largest national network of
medical cannabis clinics and education centres staffed by MDs,
nurse practitioners and educators.
Aleafia Health maintains a medical cannabis
dataset with over 10 million data points to inform proprietary
illness specific product development and treatment best practices.
The Company is committed to creating sustainable shareholder value
and has been named the 2019 top performing company of the year by
the TSX Venture Exchange prior to its graduation to the TSX.
LEARN MORE: www.AleafiaHealth.com
About CannaPacific:
CannaPacific is a licensed Medical Cannabis Company based in
Newcastle and the Macleay Valley on the mid-north coast of New
South Wales (NSW), Australia. CannaPacific has been granted
licenses to cultivate and research medical cannabis in Australia
and is in the process of constructing a 53,000 sq. ft. greenhouse
cultivation and research facility. This project will position
CannaPacific as a high-quality low-cost Australian producer.
The CannaPacific Team comprises experts in the medical, clinical
trials, plant Science, technology and pharmaceutical industries
with vast experience and world class capability.
LEARN MORE: www.cannapacific.com.au
FORWARD LOOKING INFORMATION
This press release contains forward-looking
statements and information within the meaning of applicable Canada
and United States securities laws 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
anticipated production of CannaPacific’s greenhouse, and
anticipated synergies and benefits to be derived by CannaPacific
from Aleafia Health’s additional investment. 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. 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.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ad4d2599-1821-4b8a-9b70-70c78eb8e121
The photo is also available at Newscom, www.newscom.com,
and via AP PhotoExpress.
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