Aleafia Health - CEO, Tricia Symmes
CEO, Tricia Symmes
Source: Canadian Business
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Aleafia Health (AH) has signed a one-year contract with a European cannabis distribution partner valued at approximately $1 million
  • This is in addition to a two-year $4.6 million European sales commitment signed in August of last year
  • Aleafia Health is a federally licensed Canadian cannabis company
  • The company owns three licensed cannabis production facilities and operates a located distribution centre in Ontario
  • Aleafia Health Inc. (AH) opened trading at C$0.075

Aleafia Health (AH) has signed a one-year contract with a European cannabis distribution partner valued at approximately $1 million.

“This new announcement is significant. It builds upon advancements made in August 2022 when the company revealed a two-year $4.6 million European sales commitment and broadens our international reach,” said Aleafia CEO Tricia Symmes.

“The company is involved in overseas markets because international success leverages both its products and brands, and the addressable European cannabis market is high potential, so this relationship provides another gateway into further European expansion in the medical and potential recreational markets.”

CFO Matt Sale added,

“These international agreements are an important part of our strategic plan for growth and profitability. These activities grow revenue, are not subject to excise duties, lock in attractive margins, and improve our overall cash conversion cycle and net working capital performance, continuing to deliver against one of our core sale pillars for FY 2023.”

Aleafia Health is a federally licensed Canadian cannabis company offering cannabis products in Canadian adult-use and medical markets and in select international markets, including Australia and Germany. The company operates a virtual medical cannabis clinic staffed by physicians and nurse practitioners who provide health and wellness services across Canada.

The company owns three licensed cannabis production facilities and operates a located distribution centre in Ontario, including the largest outdoor cannabis cultivation facility in Canada.

Aleafia Health Inc. (AH) opened trading at C$0.075.


More From The Market Herald
Market summary - Finance Minister, Chrystia Freeland.

" @ the Bell: TSX keeps streak alive on budget day

Canada’s main stock index closed higher on Tuesday tracking gains in crude oil prices, as traders expect that the worst could be over

" SQI (TSXV:SQD) to focus on product development for respiratory health

SQI (SQD) is refocusing its business on creating precision point-of-care products in respiratory health.

" H2O Innovation (TSX:HEO) details promising cartridge filter cleaning solution

H2O Innovation (HEO) has performed a cleaning-in-place for cartridge filters using its Genesys-PWT membrane cleaners.

" Azincourt Energy (TSXV:AAZ) completes 2023 drill program at its East Preston project

Azincourt Energy (AAZ) has completed the 2023 drill program at its East Preston Uranium project in Saskatchewan.