Aleafia Partners With Cronos Group on Medical Cannabis Sleep Study
September 20 2018 - 7:00AM
Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH)
(“Aleafia“) and Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON)
(“Cronos Group”) are pleased to announce the commencement of a
joint medical cannabis study to improve the management and
treatment of insomnia and daytime sleepiness.
The study is funded in part by Peace Naturals Project Inc., a
licensed producer of medical cannabis that is wholly owned by
Cronos Group. The study will be led by physicians practicing within
the Canabo Medical Clinic network, which is wholly owned by
Aleafia.
According to a July 2017 report from the Canadian Centre on
Substance Use and Addiction, entitled Drug Summary: Prescription
Sedatives, 11.4 per cent of adults aged 25 and older had used a
prescription sedative in the past year. The study will aim to
assist in the treatment of insomnia and the development of
non-addictive, natural sleep aids.
“Aleafia is excited to participate in a study with Cronos Group,
a company with a firm commitment to patient health. For far too
long, the answer to a patient’s sleeping disorder or chronic pain
has been a prescription and a bottle of pills,” said Aleafia Chief
Medical Officer Dr. Michael Verbora. “There is mounting evidence of
the risks of prescription sleeping aids including worsening mental
health and increased risk of dementia. This study may in part point
to medical cannabis as an alternative to harmful prescription
drugs.”
“The negative health impacts of sleep disorders and their proper
treatment must be more widely acknowledged and understood,” said
Mike Gorenstein, CEO of Cronos Group. “Cronos Group is pleased to
find a partner in Aleafia that shares our commitment to addressing
this overlooked public health issue.”
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.
About Cronos Group:
Cronos Group is a globally diversified and vertically integrated
cannabis company with a presence across five continents. Cronos
Group operates two wholly-owned Canadian licensed producers
regulated under Health Canada’s Access to Cannabis for Medical
Purposes Regulations: Peace Naturals Project Inc., which was the
first non-incumbent medical cannabis license granted by Health
Canada, and Original BC Ltd., which is based in the Okanagan
Valley, British Columbia. Cronos Group has multiple international
production and distribution platforms across five continents.
Cronos Group intends to continue to rapidly expand its global
footprint as it focuses on building an international iconic brand
portfolio and developing disruptive intellectual property. Cronos
Group is committed to building industry leading companies that
transform the perception of cannabis and responsibly elevate the
consumer experience.
Forward-looking statements This news release contains
“forward-looking information” and “forward-looking statements”
within the meaning of applicable Canadian and U.S. securities laws.
All information contained herein that is not clearly historical in
nature may constitute forward-looking information. In some cases,
forward-looking statements can be identified by words or phrases
such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”,
“potential”, “estimate”, “believe” or the negative of these terms,
or other similar expressions intended to identify forward-looking
statements. Some of the forward-looking statements contained in
this press release include the efficacy of the sleep study, the
potential therapeutic effects of cannabis in sleeping disorders,
the potential global sleep disorder and sleep aid market size, the
long-term health impacts of sleeping disorders, as well as the
Cronos Group’s intention to continue to rapidly expand its global
footprint, build an international iconic brand portfolio and
develop disruptive intellectual property. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and
competitive risks, uncertainties and contingencies that may cause
actual financial results, performance or achievements to be
materially different from the estimated future results, performance
or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of
future performance. A discussion of some of the material risks
applicable to Cronos Group can be found in its current MD&A and
Annual Information Form, both of which have been filed on SEDAR and
can be accessed at www.sedar.com. The forward-looking information
included in this news release is made as of the date of this news
release and, except as required by law, Cronos Group disclaims any
obligation to update or revise any forward-looking statements.
Readers are cautioned not to put undue reliance on these
forward-looking statements.
For further information, please contact:
Aleafia:
Nicholas Bergamini Investor Relations IR@AleafiaInc.com
Cronos Group:
Anna Shlimak Investor Relations Tel: (416) 504-0004
investor.relations@thecronosgroup.com
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