Seasoned Cultivation Specialist Joins Aleafia
Addition complements vertically integrated LP’s ambitious expansion plan
TORONTO, April 12, 2018 /CNW/ – Aleafia Health Inc. (TSXV: ALEF) (“Aleafia Health“) is pleased to welcome experienced Master Horticulturalist, Lucas Escott to its team. Escott joins Aleafia with the intention of driving the expansion of the company’s existing Health Canada Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed facility. Aleafia is aggressively pursuing expansion of its cultivation capacity in 2018.
Aleafia is delighted to now include what the company considers a leader in the Canadian cultivation space to its line-up. Escott has been involved in the cultivation of cannabis since the implementation of Health Canada Marihuana for Medical Purposes Regulations (MMPR) program, now the Health Canada ACMPR. Escott was one of the original founders of Mettrum Inc., which has since been acquired by Canopy Growth. At Mettrum, Mr. Escott led cannabis production company-wide, and drove the design, build and Health Canada licensing for three separate Mettrum facilities.
“I think anyone serious about the science and logistics behind cannabis production would jump at the chance to be part of Aleafia, particularly at this exciting time in the company’s growth and development,” said Mr. Escott. “I look forward to helping our company grow as fast as possible.”
Aleafia is currently in the cultivation stage of production and expects to complete its first harvest within the next six weeks.
Aleafia also announces that it has retained the services of Hybrid Financial Ltd. (“Hybrid Financial“), 1830012 Ontario Ltd. o/a Circadian Group, Ltd. (“Circadian“) and Stampede Group Inc. (“Stampede“) for various strategic investor relations and promotional activities. The initiatives includes marketing, distribution and branding services for the Company with a focus on elevating the Company’s profile in the investment and cannabis community.
Pursuant to the agreement with Hybrid Financial, Hybrid Financial will receive a monthly fee of $15,000. The agreement commenced April 10, 2018, for an initial term of three months, following which the agreement may be renewed by the Company on further period of three months. After the renewal period, the agreement will automatically terminate unless further renewed no less than 15 days prior to the end of the renewal period. The Company also granted Hybrid Financial 1,000,000 stock options at $1.25 per share for a 5 year term which vest quarterly over a 12 month period. All vested options shall be eligible for exercise for a period ended 12 months following termination of the agreement. The agreement is subject to the approval of the TSX Venture Exchange.
Pursuant to the agreement with Circadian, Circadian will receive a cash fee of $25,000 for month 1, $10,000 a month for months 2-6, $25,000 for month 7 and $10,000 a month for months 8-12. The Company also granted Circadian 100,000 stock options at $1.25 per share which vest quarterly over a 12 month period. The agreement is subject to the approval of the TSX Venture Exchange.
Pursuant to the agreement with Stampede, Stampede will receive a cash fee of $60,000 over a 6 month period. The Company also granted Dimitri Soudas, director, officer and principal shareholder of Stampede, 200,000 stock options at $1.25 per share which vest quarterly over a 12 month period. The agreement is subject to the approval of the TSX Venture Exchange.
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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.
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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.