Aleafia Signs Cannabis Supply MOU with CannTrust for up to 15,000 kg in 2019
Clinic Operations and Previous Cannabis Sales Providing Immediate, Significant Revenue to Aleafia
TORONTO, September 27, 2018 /Globe Newswire/ – 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.
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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.
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