TORONTO, July 30, 2018 /CNW/ - Aleafia Health Inc.
(TSXV: ALEF) (OTCQX: ALEAF) ("Aleafia") or (the
"Company"), one of Canada's leading, vertically
integrated medical cannabis companies with a unique
patient-focused, healthcare solution, announced that it has closed
its previously announced acquisition of a modern, fully automated
160,000 sq. ft. greenhouse in the Niagara Region.
Renovations at the facility are already underway, with the
facility expected to be retrofitted and licensed before the end of
2018, with a first harvest expected in spring 2019. The facility
will join Aleafia's existing licenced facility in Scugog,
Ontario, which is expected to
undergo a 150,000 sq. ft. expansion.
"This is a significant milestone in Aleafia's history. We made a
commitment to increase production capacity to secure product for
medical cannabis patients, and this acquisition is a large step
towards following through on that commitment," said Aleafia's
Chairman, Julian Fantino.
"Our top priority as a company has been to build an experienced
team ready to see this project to fruition. This acquisition
solidifies our position as one of Canada's leading medicinal cannabis companies
and will realize long-term benefits for our patients and
shareholders," said Aleafia's Chief Executive Officer, Geoff Benic.
For more information, please go to http://www.aleafiainc.com
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.
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.
SOURCE Aleafia Inc.