Aleafia Health (TSX: AH) has entered a binding letter of intent with that of Unifor, the largest private sector union in Canada. The LOI outlines an arrangement whereby the two firms will partner to provide access to medical cannabis for Unifor’s members through the collective bargaining process.
The arrangement will see Unifor look to acquire medical cannabis coverage as part of their insurance and benefits coverage for union members, whereby the medical cannabis will be supplied by Aleafia Health. The arrangement is set to be a two-way street, with Unifor pushing for the reimbursement of medical cannabis for members, while Aleafia will provide members access to its health and wellness program, which includes education and training, consultations, prescriptions, and “where appropriate,” medical cannabis products.
Aleafia Health CEO Geoffrey Benic described the arrangement by stating “This is a significant moment for the cannabis industry, and an important breakthrough for medical cannabis accessibility in Canada.” However, Aleafia is notably not the first public cannabis firm to partner with a union, with the firm following in the footsteps of WeedMD Inc (TSXV: WMD), whom entered similar arrangements with LiUNA close to a year ago.
Aleafia Health last traded at $0.53 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.
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