Aleafia health Archives - Green Market Report

Debra BorchardtDebra BorchardtSeptember 24, 2019
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3min4630

Aleafia Health Inc. (TSX: ALEF)(OTC: ALEAF) told the market on Tuesday that it will achieve positive net income for the quarter ending September 30, 2019. The company also stated that it had $51 million in cash on hand.

“Through prudent capital allocation, coupled with strong cannabis revenue growth, we now expect to deliver the first profitable quarter in Aleafia Health’s history, a major milestone. This will mark our second consecutive quarter featuring both substantial expense reductions and increased revenues as we continue to drive towards sustainable, compliant growth that will deliver real benefits to our stakeholders,” said Aleafia Health CEO Geoffrey Benic.

“Aleafia Health is now transitioning to a new phase of our growth story. We have, until now been executing on major capital projects which are now either finished or weeks away from completion. With a strong cash position, we are extremely well-positioned to build on the growth experienced this quarter on a much greater scale.”

Aleafia said that now has over 10,000 active, registered medical cannabis patients, an increase of over 3,000 patients or 42% over July 2019. In addition to that, the company’s the first prescription from a physician for an Aleafia Health product was written earlier this month in Australia and the Paris processing facility Phase Two expansion is expected to be complete next month allowing for the export of cannabis products to the European Union.

With regards to productsion, harvesting is expected to begin in two weeks at the Port Perry facility, whose exansion phase is expected to be finished this November. The Niagara Greenhouse Phase I remains in a grow-ready state pending receipt of a Health Canada Cultivation Licence. Remaining retrofitting is limited to two final growing rooms in the facility’s Phase II portion, which are expected to be completed in October 2019. All other non-cultivation infrastructures including trimming & drying room, shipping, and disposal areas are entirely complete.


Debra BorchardtDebra BorchardtJuly 2, 2019
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5min11570

International expansion is the words of the day as several companies announced plans to reach beyond the borders of Canada and the U.S. It seems Colombia is where all the action is.

MJ Freeway

MJ Freeway, a subsidiary of Akerna Corp. (NASDAQ: KERN)  said it is expanding further into Europe by serving clients in two additional countries, Italy and Macedonia. The company also recently opened a Medellín, Colombia office to serve its growing footprint in South America. MJ Freeway client, Clever Leaves, is the first Colombian company authorized to export cannabis into Canada.

“We believe it is imperative for countries with emerging cannabis businesses such as Italy and Macedonia to have access to our compliance technology,” says Jessica Billingsley, CEO of Akerna and MJ Freeway. “By giving governments, businesses, and consumers the tools needed to productively manage regulatory demands, we are able to execute our plan to connect data points across the global cannabis supply chain.”

The company stated that Macedonia is one of the few countries in the world to approve medical cannabis for cultivation and export. Italy has significantly increased its hemp production to serve its growing domestic market for industrial products and infusing in cosmetics and other consumer goods. As a result of the expansion into Italy and Macedonia, MJ Freeway has increased its footprint to five European countries including Spain, Switzerland and Denmark.

MYM Nutraceuticals Inc.

MYM Nutraceuticals Inc.(CSE: MYM) (OTCBB: MYMMF) announced that its subsidiary in Colombia, Colombia Organica S.A.S signed agreements in principle to cultivate both THC and CBD-rich cannabis with independent farmers for an initial five acres. The company said in a statement that cannabis will be cultivated by farmers who will be licensees under the existing Colombia Organica cannabis cultivation licenses. The first crops cultivated on the initial five acres will function as test crops with the intention to add subsequent acreage.

“Our team in Colombia has begun to execute on our plan to cultivate both THC and CBD-rich cannabis in South America,” said Howard Steinberg, CEO of MYM. “The strategy of extending our licenses to neighboring farmers to cultivate cannabis will serve to increase our biomass supply that we intend on processing and exporting to the global market.”

The farmers will be responsible for all costs associated with cultivation from seed to sale. Colombia Organica agrees to purchase the harvested biomass at a price to be determined at the time of delivery based on the average market price at that time.

Aleafia Health

Aleafia Health Inc. (TSX: ALEF)(OTC: ALEAF) said it received multiple Export Permits from Health Canada, which allow the Company to begin its first international cannabis product shipment. Aleafia said it expects to ship its branded medical cannabis oils in the next month, which will be distributed by Australian Licensed Producer CannaPacific Pty. Limited. Aleafia Health owns a 10 % equity stake in CannaPacific.

“The receipt of Health Canada Export Permits enables Aleafia Health to sell high-margin, value-added cannabis products across international borders for the first time, representing a major milestone as we augment our global distribution platform,” said Aleafia Health Chairman Julian Fantino. “We continue to prove the international viability of our highly differentiated cannabis health and wellness ecosystem with products, clinic operations, education and distribution. With among the largest cultivation and extraction footprints in Canada coming online, we will continue to look to new international markets.”

“This is such a tremendous milestone for CannaPacific. Our relationship with Aleafia Health continues to accelerate our strategic vision of leadership in the Australasian medical cannabis market,” said CannaPacific CEO Joshua Dennis. “We have the facility, the proven management team, and now the product portfolio to continue executing towards our goal.”


William SumnerWilliam SumnerJune 27, 2019
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4min5990

It’s time for your Daily Hit of cannabis financial news for June 27, 2019.

On the Site

Green Growth Brands

After a trial period of selling the Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) CBD line called Seventh Sense Botanical Therapy products, Abercrombie & Fitch (A&F) has decided to carry the products in 160 stores. The expansion includes Seventh Sense’s CBD-infused body lotions, muscle balms, lip balms, and sugar scrubs, and is Green Growth Brands’ second major wholesale agreement since the passage of the Agriculture Act of 2018 in December 2018.

Executive Spotlight: Dr. Jared Helfant, Co-Founder and President of Sparx Cannabis

At Sparx, Dr. Helfant applies his expertise to oversee operations, branding, and marketing. With a proven track record of providing top-tier, customer-facing services and long-term strategic planning, his knowledge helps facilitate budget analysis, marketing strategies, and partner relationships.

In Other News

Surterra Wellness

The medical cannabis company Surterra Wellness announced that it had closed a $100 million Series D funding round. So far, the company has raised over $300 million in private capital. Proceeds from the funding will go towards expansion initiatives such as strategic acquisitions and infrastructure capital expenditures. Surterra also announced that it had expanded its board of directors to include Ed Brown, Surterra’s Executive Director, and its Executive of Operations, Kevin Fisher.

Curaleaf

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) announced today that it had acquired both Glendale Greenhouse and Phytotherapeutics Management Services, LLC. Glendale Greenhouse is a vertically integrated cannabis business operating a cultivation and processing facility with a 20,000 square foot production facility capable of producing 3,600 pounds of flower annually. Glendale also owns a 1,500 square-foot dispensary and the master lease on the 15,000 square-foot multi-tenant building where the dispensary is located. Phytotherapeutics Management Services, LLC operates under the license of Phytotherapeutics of Tucson, LLC. Once the transaction is closed, the Phytotherapeutics’ license would be transferred to Curaleaf and apply to a newly developed, flagship dispensary.

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA:ARAH) has closed a $40.25 million over-subscribed public offering. Leading the offering was Mackie Research Capital Corporation and BMO Capital Markets, and included Canaccord Genuity Corp. “We are excited to close this financing and strengthen our balance sheet as we solidify and accelerate the expansion of our cannabis health and wellness ecosystem, in Canada, and globally,” said Aleafia Health CEO, Geoffrey Benic. “This is a key step enabling management to execute on its business plan and to drive operational results creating value for shareholders.”


William SumnerWilliam SumnerJune 6, 2019
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6min6020

It’s time for your Daily Hit of cannabis financial news for June 6, 2019.

On the Site

Cresco Capital Partners

Cresco Capital Partners (Cresco Capital) announced today that it has closed an oversubscribed fund of $60 million. Founded in 2014, Cresco Capital was one of the first and largest private equity firms to focus solely on the legal cannabis industry.

Italian court bans cannabis derivatives, in blow to popular sector

Italy’s top court has banned the sale of cannabis products, on the heels of threats by the country’s deputy prime minister to close shops who sell legal derivatives of the plant. Deputy Prime Minister and far-right League leader Matteo Salvini had declared war on so-called “cannabis light” shops in the run up to the European Parliament elections.

In Other News

Harborside

Harborside Inc. has announced that it has filed its listing statement with the Canadian Securities Exchange and that it will begin trading shares of the company on June 10, 2019 under the ticker symbol “HBOR.” “The start of trading represents a significant milestone for Harborside, and we’re grateful for the support that we’ve received from the CSE throughout the process,” said Harborside CEO Andrew Berman. “We’re excited to move forward as a public company, with a vehicle that attracts growth capital from new investors, and continue maintaining Harborside’s status as California’s premier cannabis operator.”

PharmaCielo Ltd.

PharmaCielo Ltd. (TSXV: PCLO) has entered into an implementation agreement to acquire all of the issued and outstanding shares and listed options of the global medical cannabis company Creso Pharma Ltd. for A$122 million. Under the agreement, PharmaCielo will pay A$0.63 per share, which is a premium of 50% over the closing trading price of the Creso Pharma shares on May 31, 2019. “PharmaCielo’s acquisition of Creso Pharma, harnessing the synergies between us, creates a combined company that is poised to become a global powerhouse in the medicinal cannabis industry,” said David Attard, CEO of PharmaCielo. “Upon closing of the transaction, the combined company will quadruple our global footprint with presence in more than a dozen countries spanning North and Latin America, Switzerland, Europe, the Middle East, Australia and New Zealand.”

Aleafia Health

Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA: ARAH) reports that it is offering 35,000 convertible debenture units of the company, at a price of $1,000 per unit, for a total of $35 million. Leading the offering is Mackie Research Capital Corporation and BMO Capital Markets, which is acting on behalf of a syndicate of agents including Canaccord Genuity Corp.  The proceeds of the offering will be used for working capital requirement and other general corporate purposes.

Medicine Man Technologies

Medicine Man Technologies, Inc. (OTCQX: MDCL) has entered into a securities purchase agreement for the sale of up to $14 million of the company’s common stock from an affiliate of the private equity firm Dye Capital & Company. The company will use the proceeds to fund growth initiatives. The company also announced a series of pending acquisitions, including MedPharm Holdings, Colorado’s first licensed cannabis research & phytopharmaceutical company; Medicine Man Denver; Los Sueños Farms,  North America’s largest sustainable cannabis farm; and Mesa Organics, a cannabis products manufacturing company. “Dye Capital is the right partner for our Company with a unique set of skills and experience in merger and acquisition transactions, integration experience, and scaling operations.  Our entire team is excited about teaming with Dye Capital,” said Medicine Man Technologies Co-Founder and CEO Andy Williams.


Debra BorchardtDebra BorchardtOctober 2, 2018
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3min12331

Canadian cannabis company Aleafia Health Inc. (ALEAF) has submitted an application to list its shares on the NASDAQ (NDAQ) exchange. The stock is currently trading in the OTC Markets Group in the U.S. and the Toronto Venture Exchange in Canada.

“Listing on the NASDAQ is another step as we continue to execute on our stated goal of attaining a global leadership position in the cannabis space,” said Aleafia Chairman Julian Fantino.

The company said it also intends to submit a Form 40-F, which is a requirement for Canadian companies to register securities it intends to offer on U.S. markets, to the Securities and Exchange Commission (SEC) later this week. The listing remains subject to NASDAQ and SEC approval.

Until that is approved, the shares will continue to trade on the OTCQB under the ticker symbol “ALEAF”. Aleafia’s common shares will also continue to trade on the TSX Venture Exchange under the ticker symbol “ALEF” post-NASDAQ up-listing.

Aleafia is hoping to join other Canadian cannabis companies that have found a home at the NASDAQ. Those include biotech company GW Pharmaceuticals (GWPH), Insys Therapeutics (INSY), Cronos Group (CRON) and Tilray (TLRY). High Times Holding Co. has also applied but hasn’t found the exchange to be as welcoming as some of these other cannabis-related companies.

“Management believes that listing on the NASDAQ will help to broaden our shareholder base, increase appeal to institutional investors, provide shareholders with better liquidity and, ultimately increase shareholder value, allowing Aleafia to rapidly accelerate our business strategy,” said Aleafia CEO Geoffrey Benic.

Aleafia listed the following points as some of the companies highlights:

  • 160,000 sq. ft. Niagara greenhouse retrofitting on schedule and expected to be complete in late 2018
  • Fully funded annual growing capacity of 38,000 kg of cannabis flower to be reached in 2019
  • Signed supply MOU with CannTrust Holdings Inc. for up 15,000 kg of cannabis in 2019
  • Planning of Aleafia’s Port Perry expansion underway, with all production options on the table, including an innovative, ultra low-cost outdoor grow
  • Reached milestone of 50,000 medical cannabis patients
  • Secured first medical cannabis sale in company’s history, only days after securing Sales Licence from Health Canada
  • Added to Horizons Marijuana Life Sciences ETF, the largest cannabis ETF in the world

 



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