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CAN (ON): Aleafia Health acquires 160,000 sq. ft. greenhouse

Aleafia Health has signed an agreement to acquire a 160,000 sq. ft. modern, fully-automated greenhouse facility in Niagara-region including its advanced growing equipment for $9.6 million. The transaction is expected to close on July 4, 2018.

The 160,000 sq. ft. Niagara facility has an immediate expansion capability of another 20,000 sq. ft. Both the 160,000 sq. ft. Niagara facility along with the 150,000 sq. ft. Scugog expansion plan are fully funded.

A second site licence application will be submitted to Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR) for the newly acquired Niagara facility.

The advanced automation and strategic layout at the Niagara greenhouse facility requires minimal retrofitting and it is expected that Aleafia will achieve a greater production capacity at a lower cost.

"This latest Aleafia acquisition is a major strategic achievement for the company that strongly positions us for success as we continue to execute on the next phase of our operations" said Aleafia's Executive Chairman Julian Fantino.

"We, at Aleafia want to ensure that the strains required by our patients are available to them when they need them" said Aleafia's Chief Executive Officer Raf Souccar.

"With its automated moving container bench system, precision irrigation and highly efficient LED lighting for plants in their vegetative stage, we will have one of the most efficient cultivation greenhouses in the medical cannabis industry, capable of producing up to seven crops per year." said Lucas Escott, Aleafia's production specialist.

For more information:
Aleafia Health
8810 Jane Street, 2nd Floor
Concord, ON
L4K 2M9
Office: 416-860-5665
Fax: 416-860-5626
Toll-free: 1 (844) 258-0583

Publication date: 5/17/2018



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