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RE:Boom Aleafia finally gets Germany !!! $$$$$$

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Aleafia Health Completes Breakthrough Medical Cannabis Export to Germany

Thursday, June 3, 2021, 7:00 AM ET

 

Aleafia Health Completes Breakthrough Medical Cannabis Export to Germany

TORONTO, June 03, 2021 (GLOBE NEWSWIRE) -- Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) ("Aleafia Health" or the "Company"), a global leader in cannabis wellness products and services, is pleased to announce that dried flower grown at its Niagara greenhouse facility has been successfully exported to Germany. Gaining access to Europe's most mature legal cannabis market is an important breakthrough for Aleafia Health, with fulfilment of successive purchase orders to Germany currently underway.

Germany represents the second major medical cannabis market to which the Company has successfully completed exports. Import and export permits have been secured for two additional orders to Australia, with the shipments expected to occur in June.

"The investments we've made in the highest levels of global regulatory compliance are just now beginning to pay dividends as we gain access to the largest medical cannabis market in the world. The shipment itself is an incredibly important breakthrough. More importantly, it represents an entirely new sales channel that will deliver consistent, repeatable revenue," said Aleafia Health CEO Geoffrey Benic. "With such high barriers to entry, the German cannabis market opportunity perfectly complements this quarter's continued growth in our domestic medical and adult-use channels."

The European cannabis market is expected to be worth $4.7 billion by 2025, with Germany alone representing nearly half the total market size, according to research from Prohibition Partners.

The first shipment features Aleafia Health's signature THC cultivar Sour Kush. While dried flower currently available in Germany is largely irradiated, the product shipped exceeded stringent quality standards and did not require irradiation, offering a significant competitive advantage in product quality. The export was completed through the EU-GMP certified facility of a strategic partner.