TORONTO, June 15, 2021 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”), a global leader in cannabis wellness products and services, today announced that it has largely completed planting across 86 acres at its outdoor cultivation facility in Port Perry, Ont. The milestone was achieved a month earlier, and on a significantly larger scale, than the 2020 outdoor season, which yielded 31,200 kgs of dried flower, at a cash cost to harvest of $0.10 per gram.
“Through the tremendous diligence and hard work of our operations team, we are poised to take another major step forward this year in outdoor cultivation. With all infrastructure completed and licences secured last year, Port Perry has become a highly advanced, year-round operation that we expect to deliver major improvements in our total yield,” said Aleafia Health CEO Geoffrey Benic.
“Our low-cost cultivation advantage at scale has allowed us to enter the dried flower market in a meaningful way with the successful launch of our everyday cannabis brand Divvy. Likewise, it provides consistent input materials for our growing portfolio of differentiated cannabis derivative products.”
Major improvements to the facility were made last year, including site-wide underground irrigation and the construction and licencing of an additional 30,000 sq. ft. of licensed drying and storage buildings. Propagation commenced in November 2020, which resulted in plants that were significantly more mature relative to previous years.
The 2021 harvest will feature the Company’s signature THC, CBD and balanced cultivars, along with a number of new THC-dominant strains which were selected following research and development cultivation trials last year.
For Investor & Media Relations:
About Aleafia Health:
Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and with sales and operations in Australia and Germany. The Company operates medical clinics, education centres and production facilities for the production and sale of cannabis.
Aleafia Health owns four significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules, edibles, sublingual strips, and vapes. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators and operates internationally in three continents.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/360d7c5a-711c-4738-b44d-15b6fd6ba97b