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Cannabis LP #1 on TSX Venture Top 50 for the First Time

Jon Brown Jon Brown, Stockhouse
0 Comments| February 25, 2019

One of the largest and most diverse cannabis companies in the industry is being recognized for its stock performance across Click to enlargeall sectors.

Licensed producer (LP) Aleafia Health Inc. (TSX: V.ALEFOTCQX: ALEAFForum) has been named the top performing TSX Venture 50 Company for 2019. Weighted amongst all 2,000 TSX Venture Exchange listed companies, this annual ranking of top performers looks across five industry sectors: Diversified Industries, Mining, Oil & Gas, Technology and representing Clean Technology and Life Sciences - Aleafia Health. This is the first time a cannabis Company has achieved the top performing company honours, ranking first among all listed companies.

The award was based on three equally weighted criteria by the TMX Group: market capitalization growth, share price appreciated and trading volume. This ranking showcases those companies listed on the TSXV that have displayed notable results in key measures of market performance.

Click to enlarge
(Image via TMX Group.)

Comparable companies featured in 2018’s list that saw a great deal of attention were Cronos Group Inc. (Nasdaq:CRON), which saw its share price change +558% and Emerald Health Therapeutics Inc. (TSXV:EMH), who saw its share price jump +301%.

There were many notable milestones achieved by Aleafia in 2018 and the beginning of 2019 that brought the Company here. Its health chairman, Julian Fantino pointed to ALEF’s top performance as a strong validator of its executional capabilities, while the Company keeps its focus on providing quality medical cannabis patient care to more 50,000 patients.

“In that time, we have purchased and brought our modern, automated greenhouse to a grow-ready state, launched our recreational retail and brands divisions with the Serruya Family and built a base of over 50,000 medical patients.”

This retail joint venture marked the first of a multiphase strategy that sees Aleafia enter the adult use cannabis industry and related retail operations in Canada, joining Aleafia’s two existing business pillars; cannabis cultivation and medical clinic operations.

CEO Geoff Benic hailed this past year as a landmark time for the Company, highlighted by achieving profitability through record revenue generated in its Q3 2018, a 36% increase of its previous quarter.

More recently, the Company released what it believes to be the first-of-its-kind study reporting reduced benzodiazepine use among patients initiated and monitored on medical cannabis. Benzodiazepines, a class of psychoactive drugs, include the most common sedatives and anti-anxiety medications.

Published in peer-reviewed journal Cannabis and Cannabinoid Research, “Reduction of Benzodiazepine Use in Patients Prescribed Medical Cannabis,” It found that 45.2% of patients regularly consuming benzodiazepines had stopped taking the medication within approximately six months of beginning medical cannabis. These patients, following prescription cannabis use, also reported decreased daily distress due to medical conditions.

CEO Benic added that the Company won’t be content to rest on its laurels in 2019, touting a merger agreement with Emblem Corp. that is intended to create Canada’s largest cannabis clinic network along with 138,000 kg. per year of planned annual cultivation capacity.

“The pending acquisition of Emblem positions Aleafia Health as a global cannabis health and wellness leader with national and global distribution in the medical and recreational sectors. As we integrate Emblem in the coming months, we will launch industry first, globally scalable cannabis education and e-commerce platforms, while expanding our recreational sector product and retail footprint. The best is yet to come.”

FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.

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