Connect with us

Business

Aleafia Health Inc (OTCMKTS:ALEAF) Begins Cultivation At Its Entire Niagara Facility And Provides Consistent Supplies for Health: Settles Disputes With Aphria

Published

on

Aleafia Health Inc (OTCMKTS:ALEAF) will commence cultivation operations at its whole Niagara facility. It obtained a license on March 13, 2020, for cultivation on 70,000 Sq. Ft. Health Canada approved changes to site plan on March 12, 2020, for beginning operations for the balance 90,000 Sq. Ft.

Incredible achievement

Aleafia achieved an important breakthrough and can use the sophisticated facility provided at the Niagara facility. The automated moving containers available at this facility allow harvesting throughout the year. Geoffrey Benic, CEO of Aleafia, said the advanced Niagara facility ensures stable supplies for wellness and health channels.

Elects Lea Ray to head the board

Aleafia selected Lea Ray as acting chair. The company recruited Glenn Washer and Rhonda Lawson on May 16, 2020, to the board and reconstituted the committees. In shareholders meeting on June 30, 2020, Aleafia will select the new chair for its board.

Home delivery of medical cannabis products

Aleafia used virtual clinic services to complete 3,300 patient consultations since March 16, 2020.  The company will provide home delivery services for medical-use cannabis products for patients registered in Toronto. Aleafia will also begin outdoor cultivation at its Port Perry facility.

Healthcare clinics operated by Aleafia offer medical cannabis to get recovery from injuries and reduce their effects. It services include physiotherapy, laser therapy, registered massage therapy, pain management, compression socks, custom braces, chiropractor, and osteopathy. The company also provides assistance to psychologists, third party insurance companies, family physicians, social workers, case managers, litigators, and life care planners.

Aleafia is also engaged in operating education centers, medical clinics, and the manufacturing of cannabis. Its production facilities for cannabis comprise a large scale outdoor cannabis cultivation facility in Canada.

Enters a settlement agreement with Aphria

Aleafia and its auxiliary – Emblem Cannabis Corporation entered a pact with Aphria Inc to settle the outstanding disputes related to the supply agreement termination. As per the terms of the settlement, Aphria will provide cash of CAD 15.5 million and common shares worth CAD 10 million to Emblem. They also agreed to waive all potential claims and drop arbitration proceedings.

Benic said both the parties are satisfied with the settlement. It allows Aleafia to strengthen its finances and focus on improving growth going forward.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

INDUSTRIAL HEMP18 hours ago

Generex Biotechnology Corporation (OTCMKTS:GNBT) Submits Pre-IND For Ii-Key-SARS-CoV-2 Vaccine To The FDA

Post Views: 118 Generex Biotechnology Corporation (OTCMKTS:GNBT) submitted a Pre-IND update to the FDA outlining its proposed Phase I/II clinical...

Business4 days ago

cbdMD Inc. (NYSEAMERICAN:YCBD) Protecting Its CBD Technologies Through Patents and expands Partnership With Bellator MMA

Post Views: 280 cbdMD Inc. (NYSEAMERICAN:YCBD) announced an extension of the exclusive Official CBD marketing partnership with ViacomCBS’s wholly-owned subsidiary...

Business4 days ago

CLS Holdings USA Inc (OTCMKTS:CLSH) Increases Revenues In June 2020 By 5.35%

Post Views: 179 CLS Holdings USA Inc (OTCMKTS:CLSH) posted a growth of 5.35% YoY to $1.102 million in June 2020....

Business5 days ago

Canopy Rivers Inc.’s (OTCMKTS:CNPOF) Portfolio Companies Expanding Their Reach In Canada And The US

Post Views: 234 Canopy Rivers Inc.’s (OTCMKTS:CNPOF) three portfolio companies recently announced plans to expand their product offering for recreational...

Business5 days ago

AgraFlora Organics International Inc. (OTCMKTS:AGFAF) Processes Around 1,000KG Of CBD Crude Oil From 10,000Kg Of Hemp

Post Views: 299 AgraFlora Organics International Inc. (OTCMKTS:AGFAF) Toronto-based Sustainable Growth Strategic Capital Corp subsidiary in partnership with MicroC45 produced...

Business6 days ago

Marimed Inc (OTCMKTS:MRMD) Retires $7.3 Million Short-term Debt: Robust Sales Of Adult-Use Programs Improves Cash Flow

Post Views: 166 Marimed Inc (OTCMKTS:MRMD) restructured its debt to provide financial flexibility at reduced interest rates. Marimed replaced the...