Aleafia Health Inc. (TSXV: ALEF, OTC: ALEAF, FRA: ARAH)
(“
Aleafia” or the “
Company”) has
sold two cannabis crops to CannTrust Holdings Inc. (TSX:
TRST)(“
CannTrust”), together (the
“
Parties”), representing the first transactions
under the Parties’ previously announced 15,000 kg cannabis supply
agreement for 2019.
The two crops purchased by CannTrust were harvested at Aleafia’s
indoor Port Perry cultivation facility. They will supplement
CannTrust’s offering of high-quality cannabis for its growing
medical patient base, which now includes more than 58,000
registered customers, and CannTrust’s four recreational brands:
liiv, Synr.g, Xscape and Peak Leaf.
“CannTrust continues to grow its medical patient base and is
experiencing high demand for its recreational brands,” said
CannTrust CEO Peter Aceto. “We are pleased to continue working with
Aleafia to help meet ever increasing customer demand across our
suite of products in both the medical and recreational
markets.”
Aleafia expects to significantly increase its cannabis
production capacity over the course of 2019. The Company recently
completed Phase I construction of its Niagara Greenhouse facility,
bringing it to a grow-ready state, pending Health Canada
approval.
Aleafia will have multiple avenues to distribute the cannabis
produced at its Niagara and Port Perry facilities, including
leveraging the 15,000 kg supply agreement for 2019 with
CannTrust.
“The continued strategic agreement between Aleafia and CannTrust
has provided measurable benefit to both companies, allowing Aleafia
to rapidly accelerate the execution of its business plan,” said
Aleafia CEO Geoffrey Benic. “Given CannTrust’s well established
record as a top Canadian Licensed Producer, these transactions
represent a significant validation of our cannabis cultivation
operations. We look forward to increasing our cannabis cultivation
output and to strengthen the relationship with CannTrust and our
growing distribution network.”
About CannTrustCannTrust is a federally
regulated licensed producer of medical and recreational cannabis in
Canada. Founded by pharmacists, CannTrust brings more than 40 years
of pharmaceutical and healthcare experience to the medical cannabis
industry and serves over 58,000 medical patients with its dried,
extract and capsule products. The Company operates its 450,000 sq.
ft. Niagara Perpetual Harvest Facility. The industry's broadest
product portfolio is prepared and packaged at the 60,000 sq. ft.
manufacturing centre of excellence in Vaughan, Ontario.
CannTrust is developing nanotechnology to develop new products
in the medical, recreational, beauty, wellness and pet markets. The
Company has established its international footprint through a
strategic partnership with Cannatrek Ltd. in Australia and a joint
venture with STENOCARE in Denmark. The Company has also partnered
with Breakthru Beverage Group through Kindred Canada, for
recreational distribution in Canada. CannTrust is committed to
research and innovation. Its partnerships with McMaster University
in Ontario and Gold Coast University in Australia were designed to
contribute to the growing body of evidence-based research regarding
the use and efficacy of cannabis.
CannTrust was proudly voted Top Licensed Producer of the Year at
the 2018 Canadian Cannabis Awards. For more information, please
visit www.canntrust.ca.
About Aleafia
Aleafia is a vertically integrated, national cannabis health and
wellness 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 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.
Neither the TSX Venture 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.
For Investor & Media Relations, please
contact:
Nicholas Bergamini, VP, Public
AffairsIR@AleafiaInc.com416-860-5665
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