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It will as soon as there is uptake from the union members on the medical side and the divy proves it is good quality. They are very well positioned they just need to be recognized. Everybody knows canopy and the other names that are in such trouble now, it is hard to get out from under that cloud. When Aleafia starts putting in good numbers folks will start to notice.
TORONTO, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) hosted a second annual adult-use retailer harvest party at its outdoor cultivation facility, with over 300 cannabis store owners, managers, budtenders and industry leaders attending. The two-day conference included retailer tours at the 86 acre outdoor site in Port Perry, Ont. and education sessions featuring the company’s cultivation methods and proprietary cultivars that make up its growing cannabis product portfolio.
“It was a privilege to provide a behind the scenes look at our outdoor cultivation facility and see firsthand the strong engagement and relationships we are building with cannabis retailers in Canada’s largest market. Month over month, we continue to increase our market share and develop a meaningful following for our Sunday Market brand family,” said Aleafia Health CEO Geoffrey Benic.
The Company has realized another strong period of sequential growth in adult-use sales in the quarter ending September 30, 2021, following a 93% increase in adult-use net revenue during Q2 2021. The growth has been in part driven by its everyday cannabis brand Divvy, with several important additional listings secured in Ontario launching October, including:
Black Widow CBD 14g Dried Flower: Capitalizing on a gap in the product landscape for large format CBD-dominant dried flower, black widow is a terpene rich, indica-dominant cultivar and long-standing signature strain for Aleafia Health’s medical patients.
FLO 14g Dried Flower: Flo’s high-potency and unique terpene profile makes it a highly sought-after cultivar now available for the first time in the Ontario market, following a successful Alberta launch.
Part of the Sunday Market brand family which features five distinct brands with differentiated products tailored to specific consumer segments, Divvy leverages Aleafia Health’s core competitive advantage of low-cost cultivation both at its Niagara Greenhouse and Port Perry outdoor cultivation facility. Also poised for a successful outdoor cultivation harvest, the Company completed planting at the 86-acre site over a month earlier than in 2020.
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations 1-833-879-2533 IR@AleafiaHealth.com LEARN MORE: www.AleafiaHealth.com
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. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.
Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.
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” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, 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. Specific forward-looking information contained in this release includes information relating, but not limited, to the Credit Facility, including the use of the net proceeds from the Credit Facility, and the Warrants. 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.
Did you listen to it? He gave an update. He was almost giddy talking about the outdoor operation, they have so much business at this time they are using contracted growers and Ford employees have just started being able to access their medicine. I would say that is a very good update. Nothing in this industry is going as quickly as we would like but progress is being made. Their Bogart’s salted caramels are delicious (I enjoy them regularly) there are more stores opening all the time. They are making good choices in every aspect they have control over. As far as the government and their policies, it is a work in progress.
Aleafia Health CEO Geoffrey Benic to Present at OTC Markets Virtual Investor Conference
Sure would like a harvest update! - FUNMAN
TORONTO, ON September 8, 2021 -- Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF), a leader in cannabis wellness products and brands, today announced that CEO Geoffrey Benic will present at the OTC Markets cannabis virtual investor conference on September 9, 2021, at 11:00 a.m. ET.
OTC Markets Cannabis Investor Conference
DATE: September 9, 2021 TIME: 11:00 a.m. EDT LINK: REGISTER
Q2 2021 Highlights
Selected highlights for the three months ended June 30, 2021:
• Adult-use cannabis net revenue increased 87% compared to the prior quarter
• Medical cannabis net revenue increased 23% compared to the prior quarter
• 13 additional product SKUs released across multiple product formats
• For the first time, medical cannabis product was made available for sale in Germany
• Commenced onboarding of medical cannabis patients through exclusive partnership with Unifor
• Maintained strong adjusted gross margin on cannabis net revenue of 49%
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations 1-833-879-2533 IR@AleafiaHealth.com LEARN MORE: www.AleafiaHealth.com
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. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.
Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions
Could they update harvest news?--->>> Cannabis Industry Investor Conference: Company Executives Present September 8th & 9th
Cannabis Company Executives share vision, answer questions live at VirtualInvestorConferences.com
NEWS PROVIDED BY VirtualInvestorConferences.com Sep 02, 2021, 08:35 ET
NEW YORK, Sept. 2, 2021 /PRNewswire/ -- Virtual Investor Conferences in partnership with KCSA Strategic Communications today announced the agenda for the upcoming Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The two-day program begins at 11:30 AM ET on Wednesday, September 8th.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There are no fees to log-in, attend the live presentations or ask questions.
Phil Carlson, Managing Director of KCSA Strategic Communications said, "Our 15th virtual conference with the OTC Markets has generated significant interest from both investors and cannabis companies to where we again have extended the conference to two days. We look forward to having some of the prominent global players in the cannabis industry present their story to the investment community."
September 8th Agenda:
Eastern Time (ET)
Presenting Company
Ticker(s)
11:30 AM
Innocan Pharma Corp.
(OTCQX: INNPF| CSE: INNO)
12:00 PM
MariMed Inc.
(OTCQX: MRMD)
12:30 PM
The Valens Company Inc.
(OTCQX: VLNCF | TSX: VLNS)
1:00 PM
Nova Cannabis Inc.
(OTCQB: NVACF | TSX-V: NOVC)
1:30 PM
InMed Pharmaceuticals Inc.
(Nasdaq: INM)
2:00 PM
Vibe Growth Corp.
(Pink: VIBEF | CSE: VIBE)
2:30 PM
1933 Industries Inc.
OTCQB: TGIFF | CSE: TGIF
September 9th Agenda:
Eastern Time (ET)
Presenting Company
Ticker(s)
10:00 AM
IM Cannabis Corp.
(NASDAQ: IMCC | CSE: IMCC)
10:30 AM
NewLake Capital Partners, Inc.
(OTCQX: NLCP)
11:00 AM
Aleafia Health Inc.
(OTCQX: ALEAF | TSX: AH)
11:30 AM
InterCure Ltd.
(NASDAQ: INCR | TSX: INCR.U)
12:00 PM
Verano Holdings Corp.
(OTCQX: VRNOF | CSE: VRNO)
12:30 PM
Fire & Flower Holdings Corp.
(OTCQX: FFLWF | TSX: FAF)
1:00 PM
SLANG Worldwide Inc.
(OTCQB: SLGWF | CSE: SLNG)
1:30 PM
Clever Leaves Holdings Inc.
(NASDAQ: CLVR, CLVRW)
2:00 PM
Australis Capital Inc.
(OTCQB: AUSAF | CSE: AUSA)
2:30 PM
Lowell Farms Inc.
(OTCQX: LOWLF | CSE: LOWL)
3:00 PM
Flower One Holdings Inc.
(OTCQX: FLOOF | CSE: FONE)
3:30 PM
Sugarbud Craft Growers Corp.
(OTCQB: SBUDF | TSX-V: SUGR)
4:00 PM
Greenrose Acquisition Corp.
(OTCQX: GNRS, GNRSU, GNRSW)
To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.
About Virtual Investor ConferencesSM Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.
TORONTO – September 1, 2021 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) is pleased to announce the appointment of David Pasieka to its board of directors. Mr. Pasieka is a seasoned public company executive and director with extensive board level experience in finance & audit, risk management, and ESG.
Mr. Pasieka was a long-standing c-suite executive at Algonquin Power & Utilities, overseeing its growth into a global energy leader and member of the S&P/TSX 60 Index of Canada’s largest companies. He also served as entrepreneur in residence at the MaRS Discovery District, North America’s largest innovation hub supporting the growth of over 1,400 Canadian startups. He holds an MBA from York University along with a Chartered Director designation. Concurrent with the appointment of Mr. Pasieka, the Company also announces the departure of director Mike LeClair.
“David’s proven track record as a growth-oriented business leader in complex and highly regulated industries will serve both our board and management team well as we continue to strengthen our position in the adult-use, medical and international markets. We are delighted to have him join Aleafia Health,” said Mark J. Sandler, chair of the Company’s board of directors. “On behalf of our board, I would also like to thank Mike for his contributions and wish him all the best in his future endeavors.”
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations
1-833-879-2533
IR@AleafiaHealth.com
LEARN MORE: www.AleafiaHealth.com
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. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.
Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.
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.
"Happy", Aleafia is not only already supplying union member, but they are wholesaling "lower-margin" cannabis right now. That's BEFORE the outdoor harvest later this month/early October.
Aleafia just doesn't have the flow through relationships and "in-demand" brands.
Right now IMO their great asset will be their low production cost which should be a big revenue boost in Q4 when the outdoor harvest translates into wholesale revenue.
But then what? Those 86 acres won't be planted again until next April/May.
They're already supplying to the union patients so you are saying a larger influx of patients is coming and if so, that could be why the offering and what they are doing? You may be correct.
I haven't stopped watching it. It didn't seem to want to go below .20 or very close to it.
I think they are shoring up their supply line for when the Union deal starts generating patients (and revenues) they may have to buy from other growers to meet demand until they have a full idea of uptake. They saw all the “big guys” get saddled with redundant assets so I would rather see them buy wholesale for a bit and tweak their supply line as needed. Total guess here but that is what I would do in their place.
A 53% Increase in Cannabis Net Revenue on Aleafia Health (OTCMKTS: ALEAF)’s Q2 2021 Financial Results Demonstrates the Success of its Expanded Product Portfolio
Gaining access to Europe’s legal cannabis market was the most remarkable breakthrough for Aleafia Health (OTCMKTS: ALEAF). It was one of the many activities that contributed to the company’s Q2 2021 financial results.
The most significant shift was a 53% increase of cannabis net revenue from the previous quarter ending at $9.6 million. Increased sales of cannabis across the adult-use, medical and bulk wholesale sales channels played a crucial role in putting together the revenue.
Medical cannabis achieved a $3.3 million net revenue for Q2 2021, a 23% increase over the previous quarter. Adult-use cannabis revenue was at $3.2 million, translating to an 87% increase over the last quarter, while cannabis bulk wholesale sales brought home $3.1 million, compared to $1.9 million previously.
IMO, not to be overlooked is the fact that Aleafia's previous Q was awful. Beating those numbers was easy.
To put Aleafia in perspective, the tiny nugget of an edible company, Indiva (also an LP), posted their ER yesterday. With similar revenues they are EBITDA profitable, almost net profitable, and they are the edible category leader in Canada.
Aleafia is frustrating me. Revenues fluctuate with the harvest. They need to boost their brands. KinSlips should be a homerun.
IMO Aleafia has to step up its social media presence.
This article reads as if Aleafia is the best LP. That people should be plowing investments into it.
There is no disclosure telling us whether or not it is a "paid-for" article.
Have I over-loved this company?
Please, just show me consistent QoQ revenue and net profit growth. I will turn into a believer again. - FUNMAN
The Exclusive Milestones that Contributed to the Revenue Growth
Medical and adult-use cannabis markets had a significant landslide in their gross margins despite widespread competition and compression. Low-cost cultivation and high-quality cannabis derivative formats were the twin pillars, which occasioned a higher revenue achievement than other Canadian licensed producers.
Aleafia Health has exclusive cannabis wellness products, dried flowers, and a pre-roll portfolio being newly launched. Additionally, the company completed planting across 86 acres outdoors, a move expected to boost bulk wholesale revenue later in the year.
Expressing the company’s excitement, the CEO Geoffrey Benic added, “…Gaining access to the German medical cannabis market marks an important milestone that, with continued successful shipments, can contribute revenue growth and gross margin expansion….”
The Launch of a CBD Freshly Minted Roll-on
Benic says they are still in tow of bringing high-margin cannabis products to market. To capitalize on their efforts, the company has launched a perfectly positioned product for cannabis connoisseurs; the Freshly Minted Roll-on. The peppermint-scented product offers a “soothing, aromatic experience.” Thanks to its blend of essential oils, including lavender, vetiver peppermint, and eucalyptus.
It is the first product, which falls under the company’s Noon & Night brand, featuring Lavender Fizz Bath Bombs and Omega CBD Soft Gels.
Geeze I hope not! They have the golden goose with the union deal. They just have to onboard the employees and provide them with consistent product. If they need anything it might be more growers but canopy and aurora both suck and have enormous baggage. They would just drag aleafia down. Maybe a deal with a company that knows how to grow consistently good weed….. a thing that eludes both those mentioned so far.
During the last year, the cannabis sector has recorded impressive growth as countries continue to pass cannabis legislation and we are bullish on the trend.
From the European Union (EU) to Latin America, burgeoning cannabis markets are popping up all over the world. Companies have been highly focused on this trend and Canadian Licensed Producers (LPs) have been the primary beneficiaries of it.
So far this year, we have seen a substantial increase in the amount of merger and acquisition (M&A) transactions in Canada. Over the next year, we expect this trend to continue and possibly become more significant.
The increase in M&A activity in the Canadian cannabis sector has raised questions about LPs that are positioned to survive this trend and we want to highlight 3 operators that could be impacted by it.
Canopy Growth: Is it Still an Industry Leader
When compared to prior years, Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) has been quiet on the M&A front so far this year. In previous years, the leading Canadian LP has completed several major acquisitions and have reported some of the most significant transactions in the history of the entire industry.
A few years ago, Canopy Growth announced a change at the helm of the company and replaced Bruce Linton with Derek Klein as Chief Executive Officer (CEO). Previously, Klein served as Chief Financial Officer (CFO) and as a member of the Executive Management Committee at Constellation Brands (Nasdaq: STZ).
While serving as CFO at Constellation, Klein played a key role in the company’s decision to make an investment in Canopy Growth in 2017 and has served on Canopy’s Board of Directors since November 2018. When his appointment as CEO was announced, we were not too surprised by the development due to his track record at Constellation.
Under Klein’s leadership, Canopy Growth divested and wrote off more than $1 billion of assets that were previously acquired. He has put a major emphasis on improving operational efficiency at Canopy Growth and we will monitor how the story evolves from here. Going forward, we would not be surprised to see the company make strategic bolt-on acquisitions that will prove to be immediately accretive and continue to closely follow the opportunity.
Aurora Cannabis: Can the Business get Back on Track
Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB) is another Canadian LP that we have been highly focused on. Like Canopy Growth, the company has been much less active on the M&A front and this is a trend we are closely following.
When compared to Canopy Growth, Aurora Cannabis is less advanced and has less room for error. The two Canadian cannabis companies are similar in the way the management team has changed. We are of the opinion that Aurora Cannabis is under more pressure than Canopy Growth and have less confidence in the management team.
In 2020, Aurora Cannabis completed the acquisition of Reliva, which is sells hemp-derived cannabidiol (CBD) products in the US. Following the completion of the transaction, several members of Reliva’s management team replaced executives at Aurora Cannabis and we believe the changes have slowed down the growth of the business.
The market has been less than pleased with the changes at Aurora Cannabis and the stock has fallen more than 50% from its 2021 highs. Due to the changes to the business, we are cautious with the opportunity and will monitor how the new management team is able to get the company back on track.
Aleafia Health: An Acquisition Target?
Earlier this month, Aleafia Health Inc. (TSX: AH) (OTC: ALEAF) reported second quarter financial results that showed impressive growth when compared to the same period last year. The company has benefited from the legalization of cannabis 2.0 products in Canada as well as from international markets like Australia and Germany.
Earlier this week, the Canadian LP reported to have closed a $10 million senior secured term (non-revolving) credit facility. The credit facility was immediately drawn down and the net proceeds are expected to be used to support accretive growth initiatives. These types of initiatives include:
Improved product availability in the adult-use business
Accelerating onboarding of new employer relationships under the exclusive Unifor agreement
Operational efficiency enhancements on the production lines at its manufacturing facility in Ontario
General corporate purposes.
Although Aleafia Health has reported several important developments so far this year, the trend has been to the downside and we find the risk-reward profile to be favorable at current levels. Over the next year, we would not be surprised to see the busines acquired by a large-scale Canadian LP and believe that it owns strategic cannabis assets.
If you are interested in learning more about Canadian LPs, please send an email to support@technical420.com with the subject “Canadian LPs” to be added to our distribution list.
For the fastest access to data on Canadian LPs, sign up for our free newsletter!
AUTHORED BY Michael Berger Michael Berger is Managing Partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading firms in the cannabis industry throughout the U.S. and abroad.
I think they see the up side here and we are in a very good spot. They awarded warrants (thank you for the correction) so, some dilution but the money comes back to the company and even at a high interest rate it is better than straight dilution. They have a captive audience with the unions and the rest of their operation is gravy.
New Money but pummeled, this is all they could raise--->>>Aleafia Health Announces Closing of $10 Million Credit Facility
High interest and dilution just so they can keep the lights on. This is bad dilution. Bummer. - FUNMAN
Credit Facility provides financial capacity to pursue accretive growth opportunities
New debt lender increases financial flexibility with new source of capital
Improves liquidity by growing cash and marketable securities balance to $25 million
TORONTO, August 23, 2021 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”), a leader in cannabis wellness products and services, is pleased to announce the closing of a $10 million senior secured term (non-revolving) credit facility (the “Credit Facility”).
“This Credit Facility provides us with greater financial flexibility to pursue strategic opportunities and continue the robust sales growth realized during our most recent quarter. This transaction improves our capital structure and provides a lower cost of capital that we believe directly benefits our shareholders,” said Aleafia Health CEO Geoffrey Benic. “Our sales momentum across multiple adult-use product categories, continued scaling of our medical cannabis ecosystem, and the near-term harvest of our largest outdoor cannabis crop to date sets the stage for a strong second half of 2021.”
The full amount of the Credit Facility was drawn down by the Company on closing. The Credit Facility carries a 12-month term, with an option for early repayment, and accrues interest at a rate of 12% per annum, with the interest and principal amounts due upon maturity. The outstanding amount of the Credit Facility together with accrued and unpaid interest thereon, may be repaid by the Company at any time and also includes certain mandatory prepayment obligations upon certain specified incurrences. The Credit Facility is secured by first lien mortgages on the Paris, Ontario and Grimsby, Ontario production facilities.
As partial consideration for the Credit Facility, the Company has granted to the lender 1,000,000 common share purchase warrants (the “Warrants”) of the Company. Each Warrant entitles the holder thereof to acquire one common share (each, a “Warrant Share”) in the capital of the Company at an exercise price of $0.32, subject to adjustment in certain circumstances, until August 20, 2023. The Warrants vest in equal instalments of 250,000 Warrants commencing on November 20, 2021, and subsequently every three (3) months thereafter, subject to adjustment in certain circumstances. The Warrants are not transferable other than to affiliates of the lender.
The Toronto Stock Exchange has conditionally approved the listing of the Warrant Shares issuable on the due exercise of the Warrants. The Warrants and the Warrants Shares are subject to a statutory holder period in accordance with applicable securities laws.
The net proceeds from the Credit Facility are expected to be used to support accretive growth initiatives, including improved product availability in the adult-use business, accelerating onboarding of new employer relationships under the exclusive Unifor agreement, operational efficiency enhancements on the production lines at its manufacturing facility in Paris, Ontario, and for other general corporate purposes.
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations
1-833-879-2533
IR@AleafiaHealth.com
LEARN MORE:www.AleafiaHealth.com
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. The Company has developed an international footprint, with subsidiaries or investments in German and Australian medical cannabis companies and has products available in both markets. The Company owns and operates a virtual network of medical cannabis clinics staffed by physicians and nurse practitioners who have seen over 75,000 patients to date.
Aleafia Health owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of Ontario, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of cannabis derivative products including oils, capsules, edibles, sublingual strips, and vapes, for sale in Canada in the medical and adult-use markets, and in select international jurisdictions.
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” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, 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. Specific forward-looking information contained in this release includes information relating, but not limited, to the Credit Facility, including the use of the net proceeds from the Credit Facility, and the Warrants. 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.
Canadians have been out-buying themselves in legal weed this year, with another record set in June for retail cannabis sales.
On Friday, Statistics Canada released preliminary retail sales data, which shows a monthly increase of 1.7 per cent to $318.7 million. This is the fourth consecutive month the country hit record weed sales.
The daily spending average for June is about $10.6 million, and Canada could surpass $3.87 billion in weed sales this year.
Canada’s overall retail sales increased 4.2 per cent in June, primarily led by higher sales at clothing stores. Six provinces saw sales go up, with Ontario and Nova Scotia leading the pack at 9.8 per cent and 16.3 per cent respectively.
Weed sales have also gone up in those two provinces.
Nova Scotia’s sales shot up 10.5 per cent to $8.2 million, the largest jump of any province.
Ontario’s sales rose 8 per cent to $120.1 million, while Ottawa leaped 13.3 per cent to $12.1 million. Toronto’s $43.7 million represents a 5 per cent increase.
Canada’s most populous province has continued to add more retail stores, reaching more than 1,000 as of Friday.
Ontario Cannabis Store @ONCannabisStore
Aug 20 You can now shop at over 1000 Authorized Cannabis Retailers across Ontario, owned and operated by your local buds. Find a store near you: https://bit.ly/2GZSgh2
Large markets dip while weed sales climb in Maritimes and Prairies Of the four largest weed markets in Canada, Ontario is the only one to bring in higher sales in June.
Alberta’s sales dropped 4.4 per cent to $57.1 million, and Quebec dipped 0.7 per cent to $49.2 million.
Both provinces had cannabis sales steadily increase for most of the year — with the exception of February — before dipping in June.
Sales had been climbing for three months in British Columbia before dropping 4.1 per cent to $44.5 million in June. Vancouver’s sales decreased by 1.4 per cent to $14.4 million. A total of 371 licences have been issued in B.C. so far.
Saskatchewan sold $13 million, up 0.7 per cent from May, and Manitoba’s sales went up 2 per cent to $12.1 million.
It seems the Maritime provinces are faring better in June than the previous month as well.
In addition to improved sales in Nova Scotia, New Brunswick’s went up 3.4 per cent to $6.6 million. Newfoundland and Labrador saw a similar increase of 3.8 per cent to $4.9 million.
Sales for P.E.I and the Yukon haven’t been provided by StatsCan since March.
There weren’t any June numbers for the Northwest Territories either. Nunavut hasn’t had available sales data and currently only has one store.
Canada retail sales data from May has been revised slightly to $313.18 million.
We are in a very unique and almost secret position here. The industry is forced to stay on the fringes. Away from institutional access. The only ones here with us are the hedge funds who love to play their short games here in otc land. The instant this company shows its value they will turn into longs. Noting has changed in the company’s fundamentals. Their prospects are incredible and nobody seems to understand the situation. I am good with it until I can buy more lol!
One news item I missed while camping at Lake George--->>>Aleafia Health Reports Strong 2021 Second Quarter Financial Results with 53% Sequential Increase in Cannabis Net Revenue
IMO, measured against a crappy prior Q, the percentage gain is terrific. In real numbers, we are waiting on the Q3 harvest to really determine if Aleafia has what it takes or is just another cannabis also-ran in need of finding a buyer, or shuttering the doors. Compared to MediPharm which appears to be a completely failed cannabis investment, Aleafia does seem to possess potential life. Q3 and Q4 are more critical than ever before.
* Adult-use cannabis net revenue increased 87% compared to the prior quarter
* Medical cannabis net revenue increased 23% compared to the prior quarter
* 13 additional product SKUs released across multiple product formats For the first time, medical cannabis product was made available for sale in Germany
* Commenced onboarding of medical cannabis patients through exclusive partnership with Unifor (Gee, a number here would be nice. Are there 5, 10, 100 or 1,000 patients? Is it for real, or is it a joke?)
* Maintained strong adjusted gross margin on cannabis net revenue of 49% (This is a pretty high margin compared to the industry in the USA and Canada. Kudo's to Aleafia for cost containment.)
TORONTO – August 12, 2021 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) is pleased to report its financial results for the three and six months ended June 30th, 2021.
“This quarter clearly demonstrates the success of our expanded product portfolio, with strong sequential growth across all sales channels and a shift towards a more balanced mix with sizable contributions from both the medical and adult-use cannabis markets. Credit goes to our management team and employees for delivering record adult-use, and medical cannabis revenue this quarter,” said Aleafia Health CEO Geoffrey Benic. “Despite industry-wide price compression, we have maintained robust gross margins on cannabis revenue when compared to other Canadian licensed producers, based on most recently reported quarterly results. This was achieved through our twin pillars of low-cost cultivation and high-quality, differentiated cannabis derivative formats.
“With an already well-established line of cannabis wellness products, we were delighted to see sequential revenue increases driven by our newly launched dried flower and pre-roll portfolio. Gaining access to the German medical cannabis market marks an important milestone that, with continued successful shipments, can contribute revenue growth and gross margin expansion. The development of our domestic medical cannabis channel and broader patient ecosystem are well positioned as we continue the ramp-up of our exclusive partnership with Unifor, Canada’s largest private sector union.
“Lastly, we were able to complete planting across 86 acres outdoors, over a full a month earlier than last year, laying the groundwork for the 2021 harvest. Outdoor cultivation remains a core competitive advantage both in cost and scale, for our dried flower portfolio and as input for cannabis product derivative formats. Likewise, it will allow us to be opportunistic in securing bulk wholesale revenue later this year and into early 2022.”
($,000s) Three months ended Six months ended Jun 30, 2021 Jun 30, 2020 Jun 30, 2021 Jun 30, 2020 Net revenue 10,672 9,775 17,738 24,371 Cannabis net revenue(1)(3) 9,583 8,995 15,828 22,722 Adjusted gross profit before fair value (“FV”) adjustments on net cannabis revenue(1)(3) 4,740 2,962 8,442 14,636 Adjusted gross margin before FV adjustments on net cannabis revenue(1)(3) 49% 33% 53% 64% Adjusted EBITDA(1)(2) (3,339) 3,065 (6,372) 9,829 Net loss (36) (4,021) (11,284) (10,176) 1. See “Cautionary Statements Regarding Certain non-IFRS Measures” section of associated MD&A for term definition. 2. See “Adjusted EBITDA” section of associated MD&A for reconciliation to IFRS equivalent. 3. See “Revenue” section of associated MD&A for reconciliation to IFRS equivalent.
OPERATIONAL RESULTS
($,000s, except operational results) Three months ended % Change Jun 30, 2021 Mar 31, 2021 Jun 30, 2020 Q/Q Y/Y Net medical cannabis revenue(1)(2) 3,266 2,657 1,959 23% 67% Net adult-use cannabis revenue(1)(2) 3,217 1,722 870 87% 270% Net bulk wholesale cannabis revenue(1)(2) 3,100 1,866 6,166 66% -50% Cannabis net revenue(1)(2) 9,583 6,245 8,995 53% 7% Net clinic revenue 1,089 821 780 33% 40% Active, registered patients 18,067 17,637 13,285 2% 36% Average net selling price per gram of medical cannabis(1) $7.25 $8.46 $7.87 -14% -8% Average net selling price per gram of adult-use cannabis(1) $5.29 $4.89 $4.81 8% 10% Average net selling price per gram of bulk wholesale cannabis(1) $0.46 $0.75 $2.92 -39% -84% Adjusted gross margin before FV adjustments on medical cannabis net revenue(1)(2) 41% 53% 41% -12% 0% Adjusted gross margin before FV adjustments on adult-use cannabis net revenue(1)(2) 47% 56% 37% -9% 10% Adjusted gross margin before FV adjustments on wholesale cannabis net revenue(1)(2) 60% 71% 30% -11% 30% Gross margin on clinic net revenue(1)(2) 61% 20% 69% 41% -8% Kilograms sold 7,811 3,155 2,545 148% 207% 1. See “Cautionary Statements Regarding Certain non-IFRS Measures” section of associated MD&A for term definition. 2. See associated MD&A for reconciliation to IFRS equivalent.
* During the three months ended June 30, 2021 (“Q2 2021”) cannabis net revenue was $9.6 million, an increase of 53% over the previous quarter.
* The sequential increase was due to increases in the sale of cannabis across the adult-use, medical and bulk wholesale sales channels.
* Medical cannabis net revenue for Q2 2021 was $3.3 million, a 23% and 67% increase over the previous and prior year’s quarter respectively, due to improved product offerings and increased international medical cannabis sales.
* Net adult-use cannabis revenue for Q2 2021 was $3.2 million, an increase of 87% over the previous quarter and 270% over the prior year’s quarter. The sequential increase was primarily due to greater product availability, including the launch of new product formats and SKUs.
* Net bulk wholesale revenue received from sales to cannabis licensed producers was $3.1 million, compared to $1.9 million and $6.2 million in the previous and prior year’s quarter, respectively. Bulk wholesale was up over Q1 2021, but lower than the prior year’s quarter, primarily driven by dried flower allocation, which was redirected to the adult-use sales channel.
* Adjusted gross margin before FV adjustments on cannabis net revenue was 49%, compared to 59% and 33% in the previous and prior year’s quarters, respectively. The sequential decline in gross margin percentage was primarily due to industry-wide price compression, which was reflected in a lower net revenue per gram equivalent sold.
* Adjusted EBITDA for Q2 2021 was a loss of $3.3 million, compared to a profit of $3.1 million in the prior year’s quarter. The decline over the prior year’s quarter was primarily due to increases in wages & benefits expense, partially offset by increased gross profit from the sale of cannabis.
* Net loss for the three months ended June 30, 2021 was $36,000, compared to a net loss of $4.0 million over the prior year’s quarter. The improvement in net loss over the prior year’s quarter is primarily due to improved gross profit, a $12.1 million gain on the sale of certain clinic assets in the transaction with Myconic, partially offset by bad debt expense of $7.2 million.
PRODUCT LAUNCHES & KEY DEVELOPMENTS
Throughout the reporting period, the Company undertook an expansion of its cannabis brand and product portfolio, including differentiated formats and new SKUs in the important value flower and pre-roll categories
Exports to Germany & Australia: During Q2 2021, the Company announced dried flower grown at its Niagara greenhouse facility had been exported to Germany. Gaining access to Europe’s legal cannabis market is an important breakthrough for Aleafia Health. Shipments of medical cannabis products to Australia were also completed during the quarter.
Dried Flower & Pre-rolls: The Company has undertaken an expansion of its dried flower and pre-roll offering, which represents the first and third largest product categories in the Canadian cannabis market, respectively. These include a pre-roll line extension with 12 pre-rolls each of 0.35 grams, and larger format 14-gram flower and 10-gram milled flower pouches. Sales of these products and other new dried flower SKUs commenced during Q2 2021, under the newly launched brand Divvy.
Differentiated Wellness Products: During Q2 2021, the Company launched Lavender Fizz CBD bath bombs, and CBD Freshly Minted Roll-on, under its trailblazing wellness brand Noon & Night. The quarter also featured the launch of the Omega CBD Soft Gels which feature full-spectrum, single strain CBD extract, and are the first Canadian cannabis products to be suspended in fish oil containing omega-3.
Confectionary Edibles: The Company strengthened its edibles portfolio with Salted Caramel Pretzel Bites, which were launched under the Bogart’s Kitchen edibles brand.
Unifor Program: During the reporting period, the Company commenced providing medical cannabis products and services to unionized employees of the Ford Motor Company of Canada, through its exclusive partnership with Unifor, Canada’s largest private sector union.
2021 Outdoor Cultivation Season: On June 18, 2021, the Company completed planting across 86 acres at the Port Perry Facility outdoor cultivation site. 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 cost of $0.10 per gram to harvest.
SELECTED BALANCE SHEET INFORMATION
($,000s) Jun 30, 2021 Dec 31, 2020 Cash, cash equivalents, marketable securities 17,804 30,529 Current assets 71,055 82,923 Current liabilities 49,901 45,041 Working capital 21,154 37,882 Total assets 221,423 237,283 Total liabilities 54,866 83,062 Capitalization Lease liability 2,620 3,167 Convertible debt 33,931 56,802 Total debt 36,551 59,969 Total equity 166,557 154,221 Total capitalization 203,108 214,190 CONFERENCE CALL & WEBCAST
Date: August 12, 2021 Time: 9:30 a.m. ET USA/Canada Toll-Free Participant Call-in: (866) 679-9046; Passcode: 6096362 International Toll-Free Participant Call-in: (409) 217-8323; Passcode: 6096362
WEBCAST LINK
This conference call will be webcast live over the internet and can be accessed through the link provided. Audio of the call will be available to participants through both the conference call line and webcast; however, the presentation may only be viewed via the webcast. A replay of the call be viewed at any time via the link provided.
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations 1-833-879-2533 IR@AleafiaHealth.com LEARN MORE: www.AleafiaHealth.com
I understand that the offer was never lower than my bid, but when a sell-at-the-market order is placed, how does it make any sense to fill that sell order at a bid lower than the highest bid? That’s trading thru the bid in my book. It’s the same thing as having an offer lower than the bid.
I would bet that the ask always stayed above your bid price of .291. Therefore, it was a "hit or miss" situation for you. You got over 1/2 the shares you wanted and some others were able to buy some shares at a bit lower price. Unfortunately, you don't have a leg to stand on if you were to contest it with your broker since your bid was lower than the ask.
I'll be camping at Lake George when they announce. - FUNMAN
TORONTO – August 4, 2021 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) will announce its 2021 second quarter results on August 12, 2021 prior to market open. The Company will also host its earnings conference call the same day at 9:30 a.m. ET. The call will be hosted by CEO Geoffrey Benic and CFO Matt Sale.
CONFERENCE CALL & WEBCAST
Date: August 12, 2021 Time: 9:30 a.m. ET USA/Canada Toll-Free Participant Call-in: (866) 679-9046; Passcode: 6096362 International Toll-Free Participant Call-in: (409) 217-8323; Passcode: 6096362
WEBCAST LINK
This conference call will be webcast live over the internet and can be accessed through the link provided. Audio of the call will be available to participants through both the conference call line and webcast; however, the presentation may only be viewed via the webcast. Participants who miss the live call can view a replay at any time via the link provided.
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations 1-833-879-2533 IR@AleafiaHealth.com LEARN MORE: www.AleafiaHealth.com
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.
TORONTO, July 29, 2021 – Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) a global leader in cannabis wellness products and services, is pleased to announce the appointment of Mark J. Sandler as Chairman of its Board of Directors (the “Board”). He is the longest serving member of the Company’s board, which is composed entirely of independent directors, and chairs its Governance Committee.
Currently senior partner at Cooper, Sandler, Shime, & Bergman LLP, Mr. Sandler is a leading appellate and trial lawyer, as well as an adjudicator and mediator in regulatory matters, including securities litigation. He served three terms as an elected member of the Law Society of Ontario’s governing body.
“Aleafia Health is well positioned to continue on its growth trajectory of the last three years, from a pre-revenue startup to a leading global cannabis company,” said Mr. Sandler. “In supporting the objectives of the company, we will continue to prioritize strong corporate governance, and sustainable growth in the adult-use, medical and international markets.”
For Investor & Media Relations:
Nicholas Bergamini, VP Investor Relations
1-833-879-2533
IR@AleafiaHealth.com
LEARN MORE: www.AleafiaHealth.com
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.
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