Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) (“Aleafia”) or (the “Company”), one of Canada’s leading, vertically integrated medical cannabis companies with a unique patient-focused, healthcare solution, announced that it has closed its previously announced acquisition of a modern, fully automated 160,000 sq. ft. greenhouse in the Niagara Region.
Renovations at the facility are already underway, with the facility expected to be retrofitted and licensed before the end of 2018, with a first harvest expected in spring 2019.
The facility will join Aleafia’s existing licenced facility in Scugog, Ontario, which is expected to undergo a 150,000 sq. ft. expansion.
“This is a significant milestone in Aleafia’s history. We made a commitment to increase production capacity to secure product for medical cannabis patients, and this acquisition is a large step towards following through on that commitment,” said Aleafia’s Chairman, Julian Fantino.
“Our top priority as a company has been to build an experienced team ready to see this project to fruition. This acquisition solidifies our position as one of Canada’s leading medicinal cannabis companies and will realize long-term benefits for our patients and shareholders,” said Aleafia’s Chief Executive Officer, Geoff Benic.
For more information, please go to http://www.aleafiainc.com
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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