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Cannabis Summary for Nov. 11, 2019

2019-11-11 20:10 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index lost 2.81 points to 410.02 Monday. Aleafia Health Inc. (ALEF) rose 11 cents to 92 cents on 3.97 million shares after announcing that its Port Perry, Ont., outdoor harvest produced 10,300 kilograms of marijuana at an unusually low cost of eight cents a gram. The eight cents includes all operating expenses (such as labour, supplies, services and staff wages). Aleafia said the all-in cost for the outdoor harvest was 10 cents (in addition to operating expenses, that includes irrigation, security and the company's 5,000-square-foot (about the size of a basketball court) drying facility).

The company wants to expand its growing area for next year. On Sept. 4, Aleafia agreed to acquire another 60 acres next to its Port Perry site for $1.2-million. The company now has 86 acres of growing area at Port Perry. With the extra space, Aleafia expects to expand its outdoor growing capacity to 102,000 kg next year. It expects the increase in yield per square acre as a result of "a number of factors," including that Aleafia will be able to start growing earlier in 2020. The company did not receive licences to grow until the middle of 2019.

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aleafia....so how much per gram did it get for the cannabis?...thats 1.3 million cdn to grow, but how much per gram sold?...obviously 0?

Posted by sure at 2019-11-12 08:12