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Enter Symbol
or Name
USA
CA



Aleafia Health Inc
Symbol ALEF
Shares Issued 271,953,105
Close 2019-06-12 C$ 1.31
Market Cap C$ 356,258,568
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Aleafia Health plants first outdoor pot crop

2019-06-13 07:31 ET - News Release

Mr. Geoffrey Benic reports

ALEAFIA HEALTH COMPLETES PLANTING OF CANADA'S FIRST LEGAL OUTDOOR CANNABIS CROP

Aleafia Health Inc. has completed the planting of its first outdoor crop, less than one week after securing Health Canada approval for outdoor cultivation. To the company's knowledge, Aleafia Health is the first licensed producer to complete a large-scale, legal outdoor crop in Canadian history.

"With the country's first legal outdoor crop now in the ground, Aleafia Health continues to validate our relentless focus on results-oriented execution," said Aleafia Health chief executive officer Geoffrey Benic. "We now expect to harvest a substantial, low-cost outdoor crop later this year, accelerating our company's growth. This will allow us to scale our mission of growing, producing and selling high-margin, value-added cannabis health and wellness products in Canada and globally."

To minimize the period between regulatory approval and planting, Aleafia Health leveraged its vertically integrated supply chain across three Ontario cannabis production facilities. The 13,000 starter clones grown specifically for outdoor cultivation were propagated at the company's Paris indoor and processing facility. Cultivation staff from the Niagara greenhouse facility, along with students of Niagara College's commercial cannabis production program, were on site and instrumental in allowing the company to quickly scale operations during planting, the most labour-intensive period of outdoor growing.

Following the harvest of the company's first outdoor crop, the dried flower will be transported to the company's Paris facility for extraction and production, adding to the company's branded product portfolio. The significant increase in supply will align with the Paris facility's phase II expansion, which increases the company's extraction capacity to 50,000 kilograms annually. Prior distribution channels will include the over 60,000 patients seen by the company's national network of medical cannabis clinics along with export to Australia and Germany, both burgeoning medical cannabis markets, via existing, signed supply agreements.

About Aleafia Health Inc.

Aleafia Health is a leading, vertically integrated cannabis health and wellness company with four primary business units: cannabis cultivation and products, health and wellness clinics, cannabis education, and consumer experience with e-commerce, retail distribution and provincial supply agreements.

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