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TORONTO, July 15, 2019 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: ALEF, OTC: ALEAF, FRA: ARAH) (“Aleafia Health” or the “Company”) is pleased to announce that on July 12, 2019, Aleafia Health’s wholly-owned subsidiary, Aleafia Farms Inc., secured a License Amendment (the “Licence”) under Health Canada’s Cannabis Regulations authorizing cannabis cultivation for the entirety of the Company’s Port Perry Outdoor Grow facility. The Licence immediately increases the Company’s licensed and operational outdoor cultivation area from 292,000 sq. ft. to over 1.1 million sq. ft.
A small number of the 7,000 cannabis plants growing in pots which will be transferred to the newly licensed cultivation area.
As previously announced on June 10, 2019, Aleafia Farms received approval for cultivation in Zone 1 of the Outdoor Grow facility, and days later completed the planting of Canada’s first legal, large-scale outdoor crop. The License now adds Zones 2, 3 and 4 which encompasses the full 1.1 million sq. ft. cultivation area. The License is effective as of July 12, 2019 and expires on October 13, 2020.
The Company expects to commence planting the newly licensed area on July 15, 2019, using approximately 7,000 cannabis plants currently growing in pots in Zone 1. The Outdoor Grow operation will be overseen by Aleafia Health’s proven, experienced cultivation team, which together have led the build-out and operations of seven cannabis cultivation facilities.
“The immediate four-fold increase in Aleafia Health’s licensed and operational cultivation area is our most significant milestone to date,” said Aleafia Health Chairman Julian Fantino. “We will continue to lead the way in low-cost production. This exponentially increases our total cultivation footprint while securing and increasing product supply for medical cannabis patients.”
It is intended that the cannabis grown at the Company’s Outdoor Grow facility will be processed at the Company’s Paris Facility, for the extraction and production of high-margin products within a closed loop ecosystem.
“Our team is again relentlessly focused on execution, with plants in the ground within one business day of receiving our new Health Canada licence,” said Aleafia Health CEO Geoffrey Benic. “We plan to benefit from the increasing scale of our production operations across three facilities. Low-cost cannabis grown at Port Perry will accelerate and scale our mission of growing, producing and selling high-margin value-added cannabis health and wellness products globally.”
For Investor and Media Relations, please contact:
Nicholas Bergamini, VP Investor Relations416-860-5665IR@AleafiaHealth.comLEARN MORE: www.AleafiaHealth.com
About Aleafia Health:
Aleafia Health is a leading, vertically integrated cannabis health and wellness company with four primary business units: Cannabis Cultivation & Products, Health & Wellness Clinics, Cannabis Education, and Consumer Experience with ecommerce, retail distribution and provincial supply agreements.
Aleafia Health through its subsidiaries owns three major cannabis product & cultivation facilities, two of which are licensed and operational. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators.
Aleafia Health maintains a medical cannabis dataset with over 10 million data points to inform proprietary illness-specific product development and treatment best practices. The Company is committed to creating sustainable shareholder value and has been named the 2019 top performing company of the year by the TSX Venture Exchange prior to graduation to the TSX.
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. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Aleafia Health 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 issuer profile on SEDAR 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 an 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/b7ee0d2b-dc72-4e87-84ff-4a1d88782fbf
The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.
Source: Aleafia Health Inc.
Thanks
Which CEO settled? Harland or Godin?
Just showed up in my account at $1.46 ....anyone else?
Thoughts, good/bad??
2 halts on that day.... did not back track daily chart... but the trend has been up
Last time halted 10/30/18 AUSA financing
Halted
MONTREAL, April 12, 2019 (GLOBE NEWSWIRE) -- Knight Therapeutics Inc. (TSX: GUD) ("Knight"), a Canadian specialty pharmaceutical company, is pleased to announce that PROBUPHINE™, a new treatment in the fight against opioid addiction, is now being implanted in patients across the country.
Approved by Health Canada in April 2018, PROBUPHINE™ is the only subdermal implant designed to deliver buprenorphine continuously for 6 months following a single treatment. The product must be inserted and removed by a healthcare professional who has successfully completed a live training program, the PROBUPHINE Education Program.
Knight has the exclusive right to distribute PROBUPHINE™ in Canada under a license agreement with Titan Pharmaceuticals, Inc. (NASDAQ:TTNP).
“Probuphine provides a unique new option in the treatment of opioid abuse, one that overcomes the barriers of daily adherence and multiple pharmacy and clinic visits,” said Dr. Ken Lee, London site lead and head physician at the Rapid Access Addiction Medicine (RAAM) Clinic.
Knight CEO Jonathan Ross Goodman added: “We are pleased to see health care professionals from the Maritimes to British Columbia completing our live training program and providing access to PROBUPHINE across the country. Opioid addiction in Canada continues to be a devastating public health crisis and we are proud to be at the forefront of helping improve the lives of those in need."
Corporate Update
Knight welcomes growing shareholder and analyst support as it continues its engagement in advance of the 2019 Annual Meeting of Shareholders on May 7, 2019. Most recently, it welcomes the support of National Bank of Canada Financial Markets which hosted a series of investor meetings over the past week. Knight discussed its vision and plans to expand its portfolio of products, approach to expanding geographical reach in Canada and rest of the world, and management’s intent following the AGM to explore strategies to return capital to shareholders with a preference for share buybacks versus dividends.
About PROBUPHINE™
PROBUPHINE™ is the only subdermal implant designed to deliver buprenorphine continuously for 6 months following a single treatment. PROBUPHINE™ was developed using ProNeura™, a continuous drug delivery system developed by Titan Pharmaceuticals Inc. and consists of a small, solid implant made from a mixture of ethylene-vinyl acetate (EVA) and buprenorphine. Four implants are inserted subdermally in the inner side of the patient's upper arm by a healthcare professional through an in-office procedure and removed in a similar manner at the end of the treatment period. PROBUPHINE™ must be inserted and removed by a healthcare professional who has successfully completed a live training program, the PROBUPHINE™ Education Program. Knight Therapeutics Inc. obtained Health Canada approval for PROBUPHINE™ in April 2018, the first buprenorphine implant for the long-term maintenance treatment of opioid addiction.
About Knight Therapeutics Inc.
Knight Therapeutics Inc., headquartered in Montreal, Canada, is a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing innovative pharmaceutical products for the Canadian and select international markets. Knight Therapeutics Inc.’s shares trade on TSX under the symbol GUD. For more information about Knight Therapeutics Inc., please visit the company’s web site at www.gud-knight.com or www.sedar.com.
Forward-Looking Statement
This document contains forward-looking statements for Knight Therapeutics Inc. and its subsidiaries. These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. Knight Therapeutics Inc. considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but cautions the reader that these assumptions regarding future events, many of which are beyond the control of Knight Therapeutics Inc. and its subsidiaries, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations are discussed in Knight Therapeutics Inc.'s Annual Report and in Knight Therapeutics Inc.'s Annual Information Form for the year ended December 31, 2018. Knight Therapeutics Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information or future events, except as required by law.
CONTACT INFORMATION:
Investor Contact:Knight Therapeutics Inc.Samira SakhiaPresident & Chief Financial OfficerT: 514-678-8930F: 514-481-4116info@gudknight.comwww.gud-knight.com
Media Contact:Kingsdale AdvisorsIan RobertsonExecutive Vice President, Communication StrategyDirect: 416-867-2333Cell: 647-621-2646irobertson@kingsdaleadvisors.com
Source: Thérapeutique Knight inc.
In the trades tab, how do you read B/?/S/% thank you