Aleafia Health Inc (TSX: ALEF), through its wholly-owned subsidiary, has been granted a Health Canada Cultivation License on March 13, 2020 for its facility located in Grimsby, Ontario.
This facility, called the Niagara Facility can produce an indoor all-year harvest via its advanced moving container bench system, while providing decreased operating costs and execution risk. Aleafia is currently planning its 2020 outdoor cultivation at the company’s Port Perry Facility, and will be using the Niagara Facility to grow starter plants that will later be transplanted outdoors.
The cultivation license is valid until March 13, 2023, and allows Aleafia to cultivate propagate, harvest, and sell cannabis for both the adult-use and medical cannabis market. However, this license is only limited to Building 1 of the facility. Building 1 comes equipped with a greenhouse that is approximately 50,000 square feet in size, in addition to a 20,000 square foot area which will be used for storage and drying as well as shipping procedures. Given the limitations of the cultivation license, the company plans to pursue an amendment application with Health Canada to cultivate product in the remaining 90,000 square feet of greenhouse.
Aleafia is a Canadian cannabis company focused on the production and sale of cannabis. The company also operates several medical clinics and education centers for cannabis.
Aleafia Health Inc is currently trading at $0.49 on the TSX.
Information for this briefing was found via Sedar and Aleafia Health Inc. The author has no securities or 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.