Major Adult-Use Retail, Brand JV Backed by Family Behind Iconic Yogen Früz, Second Cup Brands
TORONTO, October 26, 2018 /Globe Newswire/ – Aleafia Health Inc. (TSXV: ALEF; OTCQX: ALEAF, FRA: ARAH) (“Aleafia“) or (the “Company“), a highly differentiated cannabis company with major cannabis cultivation, medical clinic and R&D operations has extended the exclusivity period for the proposed adult-use retail and brands joint-venture (“JV”) with the Serruya Family (the “Serruya Family”), by a further two weeks.
The JV marks the first phase of a multi-phase 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 existing business pillars – cannabis cultivation, medical clinics and R&D.
“This joint venture positions Aleafia to capture significant national market share in the adult-use cannabis market in Canada. The Serruya family are excellent retail entrepreneurs with a proven track record in quickly scaling their businesses to global proportions,” said Aleafia CEO Geoffrey Benic. “Aleafia is pleased to continue discussions aimed at providing a significant net benefit to both parties and subsequently providing long-term value to our shareholders.”
- Backed and supported by Aaron Serruya, president of International Franchise Inc. which has over 4500 quick service restaurant locations in over 50 countries
- Licensing agreements with established international cannabis brands upon store launch
- Turn-key operation with ready-made store design and retail systems in place
- Intellectual property including genetics and packaging
- Vertical integration, with Aleafia cultivation facilities producing cannabis for processing, extraction, packaging and eventual listing in retail locations
Aleafia Operational Update:
- 160,000 sq. ft. Niagara greenhouse retrofitting on schedule and expected to be complete in late 2018
- Fully funded annual growing capacity of 98,000 kg of cannabis flower in 2019
- Signed supply agreement for CannTrust Holdings Inc. to purchase up to 15,000 kg of cannabis from Aleafia in 2019
- Reached milestone of 50,000 medical patients under the Canabo Medical Clinic network
- Local approval for a 30 acre, 60,000 kg secure outdoor grow expansion at our Port Perry cultivation facility
- Secured first medical cannabis sale in company’s history, only days after securing Sales Licence from Health Canada
- Added to Horizons Marijuana Life Sciences ETF, the largest cannabis ETF in the world
- Submitted application to list common shares on the NASDAQ stock exchange
For Investor & Media Relations, please contact:
Nicholas Bergamini, VP Public Affairs
About Aleafia Health Inc.:
Aleafia is a vertically integrated, national cannabis company with major medical clinic, cannabis cultivation and R&D operations. The company is a federally licensed producer and vendor of cannabis and will reach an annual production capacity of 98,000 kg of dried cannabis in 2019.
Aleafia operates 22 medical cannabis clinics staffed by physicians and nurse practitioners, with over 50,000 patients. The company is highly differentiated, maintaining the largest medical cannabis dataset in the world, with significant intellectual property holdings and current R&D operations.
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