Aleafia Signs Cannabis Supply MOU with CannTrust for up to 15,000 kg in 2019
September 27 2018 - 9:21AM
Clinic Operations and Previous Cannabis Sales
Providing Immediate, Significant Revenue to Aleafia
Aleafia Health Inc. (
TSXV: ALEF; OTCQX: ALEAF, FRA:
ARAH) (“
Aleafia“) or (the
“
Company“), has signed a supply MOU (“the MOU”)
with CannTrust Holdings Inc. (TSX:TRST)
(“
CannTrust”).
Under the terms of the agreement, CannTrust has
the right to purchase up to 15,000 kg of cannabis from Aleafia in
2019. It is a new agreement, expanding the relationship between the
two companies.
Aleafia also has the ability to leverage
CannTrust’s processing and packaging expertise to develop Aleafia
brands and products.
The MOU follows Aleafia obtaining its Sales
Licence this month. The company also recorded revenue from clinic
operations reported in its second-quarter earnings and will reach a
fully funded growing capacity of 38,000 kg of cannabis flower in
early 2019.
“This major supply MOU is a testament to the
sustained momentum of Aleafia’s business strategy,” said Aleafia
CEO Geoffrey Benic. “Aleafia now boasts two cannabis production
facilities, along with a medical cannabis clinic network that has
attained 50,000 patients. The exponential growth achieved by our
company will ensure we continue to provide sustained long-term
value for both our patients and shareholders.”
About Aleafia Health Inc.:
Aleafia is a leading, vertically integrated cannabis company
with major cannabis cultivation & processing and medical
cannabis clinics business operations. Aleafia owns two cannabis
cultivation facilities, one of which is licensed and fully
operational and one which will be fully operational in late 2018.
Aleafia will reach a fully-funded annual growing capacity of 38,000
kg in 2019. Canabo Medical Clinics are the largest brick and mortar
medical cannabis clinic network in Canada with 22 locations and
over 50,000 patients.
For Investor & Media Relations,
please contact: Nicholas Bergamini, VP, Public
Affairs IR@AleafiaInc.com
Neither 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.
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.
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