CannaPacific Also Closes its Acquisition of 108,000 sq. ft. Greenhouse for Cannabis Cultivation
Australian LP is Federally Licensed to Cultivate and Research Cannabis
TORONTO and NEWCASTLE, New South Wales, April 11, 2019 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) (“Aleafia Health” or the “Company”) has increased its strategic investment in CannaPacific Pty. Limited (“CannaPacific”), a medical cannabis company that is federally licensed to cultivate and research cannabis in Australia.
Aleafia Health further invested AU$540,000 in ordinary shares of CannaPacific in connection with CannaPacific’s AU$4,500,000 capital financing.
The strategic investment immediately follows the closing of CannaPacific’s acquisition of a 108,000 sq. ft. greenhouse located in the iconic Byron Bay region of New South Wales, Australia. The greenhouse facility will be used for cannabis cultivation grown for eventual sale to medical patients and global export. CannaPacific’s management is composed of veterans of medicine, pharmaceutical manufacturing and sales, oncology, hospital management, plant science and cannabis cultivation.
CannaPacific also intends to leverage Aleafia Health’s global cannabis health and wellness ecosystem across the Company’s four divisions:
- Aleafia Campus: Starter plant material (pending regulatory approval) and facility build-out expertise to accelerate cannabis cultivation
- Health & Wellness Clinics: Medical clinic expertise, including access to Electronic Medical Record (EMR) systems along with physician and patient recruitment
- FoliEdge Academy: Access to the Company’s proprietary online cannabis education platform developed with unique courses developed for physicians, patients, employers and healthcare institutions
- eCommerce Consumer Marketplace: Access to Aleafia Health’s soon to be launched proprietary cannabis consumer experience marketplace, built for global scale with multi-jurisdiction compliance, multi-language and multi-currency
“With an experienced management team, major cultivation assets, along with Aleafia Health’s cross-platform expertise in clinic operations, product development and online sales, CannaPacific is poised to seize on its early mover advantage in the Australian medical cannabis market,” said Aleafia Health CEO Geoffrey Benic.
“We are delighted to have Aleafia Health as a strategic investor,” said CannaPacific CEO Joshua Dennis. “With the closing of our 108,000 sq. ft. greenhouse facility and strategic relationship with a medical cannabis leader, we expect to accelerate our first to market strategy in Australia along with our objective of becoming a major exporter of medical cannabis products.”
For Investor & Media Relations, please contact:
Nicholas Bergamini, VP Public Affairs
About Aleafia Health:
Aleafia Health is a leading, vertically integrated cannabis health and wellness company with four primary business units: Cannabis Cultivation & Products, Health & Wellness Clinics, Cannabis Education, and Consumer Experience with e-commerce, retail distribution and provincial supply agreements.
Aleafia Health owns three major cannabis product & cultivation, two of which are licensed and operational. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. Aleafia Health operates the largest national network of medical cannabis clinics and education centers staffed by MDs, nurse practitioners and educators.
Aleafia Health maintains a medical cannabis dataset with over 10 million data points to inform proprietary illness specific product development and treatment best practices. The Company is committed to creating sustainable shareholder value and has been named the 2019 top performing company of the year by the TSX Venture Exchange prior to its graduation to the TSX.
LEARN MORE: www.AleafiaHealth.com
CannaPacific is a licensed Medical Cannabis Company based in Newcastle and the Macleay Valley on the mid-north coast of New South Wales (NSW), Australia. CannaPacific has been granted licenses to cultivate and research medical cannabis in Australia and is in the process of constructing a 53,000 sq. ft. greenhouse cultivation and research facility. This project will position CannaPacific as a high-quality low-cost Australian producer. The CannaPacific Team comprises experts in the medical, clinical trials, plant Science, technology and pharmaceutical industries with vast experience and world-class capability.
LEARN MORE: www.cannapacific.com.au
Source: Aleafia Health Inc.
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