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Aleafia, Serruya Family Extend Exclusivity Period for Retail and Brand Joint-Venture
TORONTO, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH) (“Aleafia”) or (the “Company”), has extended the exclusivity period for the proposed adult-use retail and brands joint-venture (“JV”) with the Serruya Family (the “Serruya Family”), by two weeks.
The JV marks the first phase of a multiphase strategy that will see Aleafia enter the adult-use cannabis industry and related retail operations in Canada and globally. This will create the foundation for the adult-use business pillar, joining Aleafia’s two existing business pillars - cannabis cultivation and medical clinic operations.
Aleafia Operational Update:
- Fully funded annual growing capacity of 98,000 kg of cannabis flower in 2019
- 160,000 sq. ft. Niagara greenhouse retrofitting on schedule and expected to be complete in late 2018
- Reached milestone of 50,000 medical cannabis patients
- Secured first medical cannabis sale in company’s history, only days after securing Sales Licence from Health Canada
For Investor & Media Relations, please contact:
Nicholas Bergamini, VP Public Affairs
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 98,000 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.
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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.