TORONTO, Sept. 10, 2018 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF) (“Aleafia“) or (the “Company“), one of Canada’s leading, vertically integrated medical cannabis companies, is announcing that it has secured its first sale of high-quality medical cannabis to CannTrust Holdings Inc. (TRST.TO) (“CannTrust”), one of Canada’s leading and most trusted licensed producers of cannabis.
The sale follows the company attaining its Sales Licence from Health Canada days earlier.
Aleafia recorded record revenue primarily from clinic operations reported in its second-quarter earnings, and will reach a fully funded growing capacity of 38,000 kg of cannabis flower in early 2019.
- Secured first medical cannabis sale in company’s history
- Fully funded annual growing capacity to reach 38,000 kg of cannabis flower
- The company reported record revenue of $1.2 million in Q2 2018
- Secured Sales Licence from Health Canada for its Port Perry cultivation facility
- Completed first harvest at Port Perry cultivation facility
- Reached milestone of 50,000 individual medical cannabis patients under the Canabo Medical Clinic network
- Recruited dynamic 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
“I’m pleased with the relationship between CannTrust and Aleafia. CannTrust is committed to ensuring that patients have access to the highest-quality cannabis. We are excited to work with Aleafia, a company that shares our commitment to quality and patient care,” said CannTrust President Brad Rogers.
“We made a commitment to secure high-quality product for medical cannabis patients, and this sale sees us realizing that goal. We are very well positioned for significant growth with two major income streams providing immediate revenue to Aleafia,” said Aleafia Chairman Julian Fantino.
“Aleafia has made significant achievements including our first cannabis sale to CannTrust, a leader in the medical cannabis space. 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,” said Aleafia CEO Geoffrey Benic.
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About Aleafia Health Inc.:
Aleafia is a leading, vertically integrated medical cannabis company with a unique focus on delivering quality patient care from “seed” to “sale.” Aleafia is uniquely positioned with a singular focus on the medical cannabis market. The company operates the largest brick and mortar medicinal cannabis clinic network in Canada under the Canabo Medical Clinic brand, which is staffed by licensed, practicing physicians. Aleafia has obtained over 50,000 unique patients and maintains the largest medical cannabis patient data set in Canada. Aleafia’s state of the art production facilities will allow for the production of high- quality strains at low cost. Aleafia’s production will focus on securing the highest- quality medicinal product for its growing patient base.