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Aleafia Health Inc ALEAF

Aleafia Health Inc. is a federally licensed Canadian cannabis company offering cannabis products in Canadian adult-use and medical markets and in select international markets. The Company is engaged in the production, sale, and distribution of cannabis. It operates a virtual medical cannabis clinic staffed by physicians and nurse practitioners which provide health and wellness services across Canada. The Company operates two licensed cannabis production facilities and operates a strategically located distribution center all in the province of Ontario, including the largest, outdoor cannabis cultivation facility in Canada. The Company produces a diverse portfolio of cannabis and cannabis derivative products including dried flower, pre-roll, milled, vapes, oils, capsules, edibles, sublingual strips and topicals. It markets and sells cannabis products through regulated intermediaries into selected international markets, tactically sells cannabis products into Canadian wholesale markets.


GREY:ALEAF - Post by User

Post by Humaniston Jun 18, 2021 4:57pm
153 Views
Post# 33412957

NFLD CANNADIS SALES GROW 35% ANNUALY TO 52 MILLIONS

NFLD CANNADIS SALES GROW 35% ANNUALY TO 52 MILLIONSNewfoundland cannabis sales grow 35% annually to $52 million

June 18/2021/ 3:55 pm
 
Just over 52 million Canadian dollars ($42 million) worth of adult-use cannabis was sold in Newfound last year, 36% more than the previous year, according to the Newfoundland and Labrador Liquor Corp.’s (NLC) year-end report.

NLC, which regulates the province’s 30 licensed cannabis retailers and operates a cannabis distribution center, said fourth-quarter sales for the period ended April 3 amounted to CA$14.2 million.

E-commerce sales, however, struggled to gain traction.
Only CA$872,000 worth of adult-use products were sold online during the fiscal year. While a big improvement over the previous year, it still represents only 1.7% of total sales.

Fourth-quarter e-commerce sales collapsed 35% year-over-year to CA$156,000.

NLC opened five new licensed cannabis retailers last year, helping disrupt the illicit market, the organization said in a news release.
The province issued a request for proposals for another 16 stores, which will bring the total number of stores operating in Newfoundland to 46.

The NLC’s compliance and enforcement team seized CA$4.8 million worth of cannabis products from the illicit market since Canada legalized adult-use marijuana in late 2018, the news release stated.
Net earnings from cannabis sales were CA$11.1 million for the year, up 66.4% year-over-year.
 


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