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Addition complements vertically integrated LP's ambitious expansion plan
TORONTO, April 12, 2018 /CNW/ - Aleafia Health Inc. (TSXV: ALEF) ("Aleafia Health") is pleased to welcome experienced Master Horticulturalist, Lucas Escott to its team. Escott joins Aleafia with the intention of driving the expansion of the company's existing Health Canada Access to Cannabis for Medical Purposes Regulations (ACMPR) licensed facility. Aleafia is aggressively pursuing expansion of its cultivation capacity in 2018.
Aleafia is delighted to now include what the company considers a leader in the Canadian cultivation space to its line-up. Escott has been involved in the cultivation of cannabis since the implementation of Health Canada Marihuana for Medical Purposes Regulations (MMPR) program, now the Health Canada ACMPR. Escott was one of the original founders of Mettrum Inc., which has since been acquired by Canopy Growth. At Mettrum, Mr. Escott led cannabis production company-wide, and drove the design, build and Health Canada licensing for three separate Mettrum facilities.
"I think anyone serious about the science and logistics behind cannabis production would jump at the chance to be part of Aleafia, particularly at this exciting time in the company's growth and development," said Mr. Escott. "I look forward to helping our company grow as fast as possible."
Aleafia is currently in the cultivation stage of production and expects to complete its first harvest within the next six weeks.
Aleafia also announces that it has retained the services of Hybrid Financial Ltd. ("Hybrid Financial"), 1830012 Ontario Ltd. o/a Circadian Group, Ltd. ("Circadian") and Stampede Group Inc. ("Stampede") for various strategic investor relations and promotional activities. The initiatives includes marketing, distribution and branding services for the Company with a focus on elevating the Company's profile in the investment and cannabis community.
Pursuant to the agreement with Hybrid Financial, Hybrid Financial will receive a monthly fee of $15,000. The agreement commenced April 10, 2018, for an initial term of three months, following which the agreement may be renewed by the Company on further period of three months. After the renewal period, the agreement will automatically terminate unless further renewed no less than 15 days prior to the end of the renewal period. The Company also granted Hybrid Financial 1,000,000 stock options at $1.25 per share for a 5 year term which vest quarterly over a 12 month period. All vested options shall be eligible for exercise for a period ended 12 months following termination of the agreement. The agreement is subject to the approval of the TSX Venture Exchange.
Pursuant to the agreement with Circadian, Circadian will receive a cash fee of $25,000 for month 1, $10,000 a month for months 2-6, $25,000 for month 7 and $10,000 a month for months 8-12. The Company also granted Circadian 100,000 stock options at $1.25 per share which vest quarterly over a 12 month period. The agreement is subject to the approval of the TSX Venture Exchange.
Pursuant to the agreement with Stampede, Stampede will receive a cash fee of $60,000 over a 6 month period. The Company also granted Dimitri Soudas, director, officer and principal shareholder of Stampede, 200,000 stock options at $1.25 per share which vest quarterly over a 12 month period. The agreement is subject to the approval of the TSX Venture Exchange.
About Aleafia Health Inc.:
Aleafia Health Inc. is one of Canada's leading, vertically integrated medical cannabis company with a unique patient-focused, medical cannabis healthcare solution. Led by a distinguished and experienced corporate leadership team, Aleafia Health Inc. is pioneering a patient-centric experience that includes personalized services before, during and after treatment. Aleafia's 22 cannabis clinics are staffed by licensed, practicing physicians. Aleafia Health Inc. has realized sustained patient acquisition growth and retention, underscoring the success of Canada's first "patient-centric" cannabis-based health network. For more information, please visit www.aleafiainc.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Aleafia's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release includes information relating to the implementation of Aleafia Health's business plan. Such statements and information reflect the current view of Aleafia with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
Although Aleafia believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Accordingly, readers should not place undue reliance on any forward-looking information or statements contained in this press release. The forward-looking information contained in this press release is made as of the date hereof, and Aleafia does not undertake to update any forward-looking information that is contained or referenced herein, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Aleafia or persons acting on its behalf is expressly qualified in its entirety by this notice.
SOURCE Aleafia Inc.
For further information: Media Contact: Chantel Elloway, Email: [email protected], Website: www.aleafiainc.com, Telephone: 1-(778) 898-5564; For More Information About Aleafia Health Inc.: Bob Santos, Corporate Affairs, Email: [email protected], Website: www.aleafiainc.com, Telephone: (416) 860-5665