Vertically Integrated Medical Cannabis Company, Aleafia Health Inc., Recommences Trading on TSXV
Toronto, Ontario–(Newsfile Corp. – March 28, 2018) – Today, Aleafia Health Inc. (TSXV: ALEF), formerly, Canabo Medical Inc. (TSXV: CMM), recommenced trading on the TSX Venture Exchange following the completion of the previously announced business combination. Aleafia, a vertically integrated company applies patient-first, physician-led and research-driven approach to medical cannabis care.
“Our listing on the TSX-V represents a major milestone for the company and provides us with additional capital to support our continued expansion while maintaining our standard of excellence,” said Aleafia Health Inc. Executive Chairman, the Honourable Julian Fantino. “On behalf of the Board of Directors, leadership team and the many friends and family who placed their trust in this company in its earliest days, we are proud to enter this exciting new phase and we look forward to a strong future.”
Aleafia Health Inc. is the amalgamation of two emerging entities in the medicinal cannabis space. The original Aleafia Inc. and Canabo Medical Inc. joined forces on March 26, 2018. As a result of the amalgamation, Aleafia’s assets now include 23 Canabo medical clinics located across Canada and staffed by licensed physicians who are subject-matter experts in cannabinoid medicine. Since the Canabo name is already synonymous with the highest standard of medicinal cannabis healthcare, all 23 clinics will continue to be branded with the Canabo name. Notably, these clinics operate without any patient consultation-fees.
The company is also an Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed producer and owns a 7,000 square foot medical cannabis production facility situated on 76 acres of prime farmland in Ontario and the company is actively implementing its expansion strategy. The first phase of this proposed expansion—150,000 square feet—is fully funded and expected to be completed by the end of 2018. Additionally, with one of the largest, single observational databases, management believes that Aleafia will be a desirable partner by organizations and institutions conducting much-needed research into the effects and benefits of medical cannabis across a wide range of chronic illnesses.
“Our colleagues at Canabo Medical Clinics have worked tirelessly and passionately to develop a clinic model that delivers the highest standard of patient care,” said Raf Souccar, President and CEO of Aleafia Health Inc. “We look forward to a long and meaningful partnership as we go forward as a united organization where increasingly sophisticated strains of medically authorized cannabis can be an alternative to the opioids that have wreaked such havoc on Canadian families.”
Education of both the medical community and the general public is a key priority for Aleafia. The company has developed and implemented a proprietary training program for all its staff to help those with chronic medical conditions that have failed traditional first, second and often third-line approaches. This training program extends to partner clinics with which Aleafia also works. This mixture of in-house clinics and corporate partners allows Aleafia to deliver its services to the maximum number of patients with optimal administrative efficiency.
“Our patients are only seen on a referral basis, which ensures that their circle of care remains unbroken and that all members of their medical team are involved in ensuring positive patient outcomes,” said Dr. Daniel Schecter, Executive Director and Co-founder of Canabo Medical Clinic.
Dr. Michael Verbora, a director of Aleafia, was invited to speak on the subject of medical cannabis, including before European Parliament as a subject-matter expert. Dr. Verbora was also recently appointed as an assistant professor at McMaster Medical School.
“Our team is committed to understanding medicinal cannabis benefits across a wide variety of conditions,” said Dr. Michael Verbora. “Our plan is to collaborate with a variety of organizations to help conduct high-quality studies that contribute to the field in a strongly academic manner.”
Aleafia believes it has brought together experienced leaders from the medical, law-enforcement, government, and business communities with the intention of forming a strong, effective team in which patients, physicians and supporters can feel confidence.
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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.