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TORONTO, May 15, 2018 /CNW/ - Aleafia Health Inc. (TSXV:
ALEF OTC: CAMDF) ("Aleafia" or the "Company") has signed an
agreement to acquire a 160,000 sq. ft. modern, fully- automated
greenhouse facility in Niagara-region including its advanced
growing equipment ("Acquisition") for $9.6
million. The transaction is expected to close on
July 4, 2018.
Aleafia is one of Canada's
leading vertically integrated medical cannabis companies
focused on "patient-centric" medical cannabis care.
Key Facts:
- The160,000 sq. ft. Niagara facility has an immediate expansion
capability of another 20,000 sq. ft.
- Both the 160,000 sq. ft. Niagara facility along with the
150,000 sq. ft. Scugog expansion plan are fully funded.
- Given the modern state of the Niagara greenhouse, Aleafia is
expected to accelerate its production capacity and in turn respond
more quickly to its patients needs.
- Aleafia has an experienced production team in place that has
been successful in acquiring 4 production licences from Health
Canada.
- A second site licence application will be submitted to Health
Canada under the Access to Cannabis for Medical Purposes
Regulations (ACMPR) for the newly acquired Niagara facility.
- It is expected that Aleafia will align its production of
quality standardized strains of medical cannabis to its data base
of information which sets out the needs of its patients based on
those patients' medical conditions.
- The advanced automation and strategic layout at the Niagara
greenhouse facility requires minimal retrofitting and it is
expected that Aleafia will achieve a greater production capacity at
a lower cost.
- It is expected that the transaction will be treated as an
expedited acquisition for purposes of the policies of TSX Venture
Exchange. The transaction is subject to acceptance of the TSX
Venture Exchange.
"This latest Aleafia acquisition is a major strategic
achievement for the Company that strongly positions us for success
as we continue to execute on the next phase of our operations" said
Aleafia's Executive Chairman Julian
Fantino.
"We, at Aleafia want to ensure that the strains required by
our patients are available to them when they need them" said
Aleafia's Chief Executive Officer Raf Souccar.
"With its automated moving container bench system, precision
irrigation and highly efficient LED lighting for plants in their
vegetative stage, we will have one of the most efficient
cultivation greenhouses in the medical cannabis industry, capable
of producing up to seven crops per year." said Lucas Escott, Aleafia's production
specialist.
About Aleafia Health Inc.:
Aleafia Health Inc. is one of Canada's leading,
vertically integrated medical cannabis companies with a unique
patient-focused, medical cannabis healthcare solution. Led by a
distinguished and experienced corporate leadership
team, Aleafia Health Inc. is pioneering a patient-centric
experience that includes personalized services before, during
and after treatment. Aleafia's 22 cannabis clinics are staffed
by licensed, practicing physicians. For more information,
please visit www.aleafiainc.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This press release contains
forward-looking statements and information that are based on the
beliefs of management and reflect the Aleafia'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 Aleafia with
respect to risks and uncertainties that may cause actual results to
differ materially from those contemplated in those forward-looking
statements and information.
Although Aleafia believes that the assumptions and factors used
in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements,
and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. Accordingly, readers should not place undue
reliance on any forward-looking information or statements contained
in this press release. The forward-looking information contained in
this press release is made as of the date hereof, and Aleafia does
not undertake to update any forward-looking information that is
contained or referenced herein, whether as a result of new
information, future events or otherwise, except in accordance with
applicable securities laws. All subsequent written and oral
forward-looking information and statements attributable to Aleafia
or persons acting on its behalf is expressly qualified in its
entirety by this notice.
SOURCE Aleafia Inc.