TORONTO, Sept. 04, 2018 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF) (“Aleafia“) or (the “Company“), one of Canada’s leading, vertically integrated medical cannabis companies with a unique patient-focused, healthcare solution, is pleased to announce that it has secured its Sales Licence from Health Canada (“Sales Licence”).
2018 Operational Update:
•Aleafia secured Sales Licence from Health Canada for its Port Perry cultivation facility
•The company reported record revenue of $1.2 million in Q2 2018
•Fully funded annual growing capacity to reach 38,000 kg of cannabis flower in early 2019
•Completed first harvest at Port Perry cultivation facility
•Reached milestone of 50,000 individual medical cannabis patients under the Canabo Medical Clinic network
•Built out the senior management team with the hiring of CEO Geoffrey Benic, CFO Benjamin Ferdinand, CMTO Trevor Newell and Master Horticulturist Lucas Escott
•Increased access to American investment community by securing listing on OTCQX Best Market
Aleafia’s history:
•January 2017: Aleafia inception
•October 2017: Opened first clinic in Vaughan
•December 2017: Acquired Port Perry ACMPR-licensed cultivation facility
•January 2018: Aleafia/Canabo complete business combination – 22 clinics, 40,000 patients
•March 2018: Aleafia begins trading as the new combined entity
•May 2018: Harvested first cannabis crop at the Port Perry facility
•July 2018: Purchased 160,000 sq. ft. Niagara Region modern fully automated greenhouse
Commenting on the Sales Licence and the company’s future outlook, Julian Fantino, Aleafia’s Chairman said:
“This is a significant milestone in Aleafia’s history. We made a commitment to secure product for medical cannabis patients, and this Sales Licence will lead us further down that path. In a relatively short period of time, Aleafia has developed a strong base of core assets with an excellent executive leadership team. We are very well positioned for significant growth.”
Commenting on the Sales Licence and 2018 performance, Geoffrey Benic, Aleafia’s CEO said:
“I am very pleased with the significant achievements Aleafia has made in 2018. Aleafia now boasts two low-cost, modern cannabis production facilities, along with a medical cannabis clinic network that has attained 50,000 unique patients. The exponential growth achieved by our company will ensure we continue to provide sustained long-term value for both our patients and shareholders.”
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