TORONTO, May 13, 2019 (GLOBE NEWSWIRE) — PRESS RELEASE — Aleafia Health Inc. has provided a corporate update and reported its First Quarter 2019 financial results for the period ended March 31, 2019. Aleafia Health has filed today its consolidated financial statements and related management’s discussion and analysis, both of which are available on Aleafia Health’s profile at www.SEDAR.com. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated. The company’s acquisition of Emblem Corp. closed on March 14, 2019, and as a result, Emblem financial results prior to the closing date are not reported in the financial statements.
“In 2018, Aleafia Health laid the groundwork for a breakthrough 2019, and we have now begun to see the results of this work. The closing of the transformative acquisition of Emblem has accelerated our global mission of growing, processing and selling high-margin value-added cannabis products by 12 to 18 months,” said Aleafia Health CEO Geoffrey Benic. “Our three production facilities will, when operational, truly leverage our global distribution platform, brands, and data-driven product expertise. Concurrently, we have achieved an improved capital markets profile, graduating to the Toronto Stock Exchange, while increasing our cash position despite making major investments in the buildout of our modern production facilities. I would like to thank our entire team, from the leadership of our Board, to clinic staff and physicians, production buildout crews, and management for the outstanding work and commitment shown to our shared cannabis health and wellness vision.”
Niagara Greenhouse and Port Perry Outdoor Grow License Application Updates
Aleafia Health has announced that it has received a status update letter from Health Canada indicating that Aleafia Health’s Cultivation License application for its Niagara greenhouse facility has passed a high-level review and that Health Canada has no concerns at this