It appears that poor sector tailwinds have yet to slow down Aleafia Health (TSX: AH) and their cultivation plans. The company issued a corporate update this morning, announcing that they had completed the planting of their outdoor crop, while simultaneously scaling up their greenhouse operations.
With respect to their outdoor initiatives, Aleafia Health now has 66 acres fully planted acres of outdoor cannabis, a significant increase from last years 13 acres. While the company hasn’t planted to its entire 86 acre capacity, yields from what is planted should result in more than enough product sitting on company shelves in an environment where bulk wholesale sales have been obliterated. The company also announced that it has completed construction on its new 30,000 square feet of indoor drying and storage space, along with site-wide irrigation.
Indoors, the company has now begun scaling operations at its 160,000 square foot Niagara greenhouse facility which was licensed earlier this year. Initially used to propagate starter plants for the outdoor crop, the company is now moving towards having a constant harvest cycle at the indoor facility. The intent appears to be to create a high-quality dried flower product for its growing base of 13,285 medical patients as of June 30, a significant increase from the 10,983 patients it had just three months prior.
Finally, the company is in the process of launching new cannabis 2.0 products, primarily consisting of a new sublingual strip product called Kin Slips. The production of which is to begin this month. Aleafia will then move to producing 510 vape cartridges over the next two to three months, followed by edibles in the form of soft chews and lozenges.
Aleafia Health last traded at $0.50 on the TSX.
Information for this briefing was found via Sedar and Aleafia Health. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
