- Aleafia Health (AH) has signed a one-year contract with a European cannabis distribution partner valued at approximately $1 million
- This is in addition to a two-year $4.6 million European sales commitment signed in August of last year
- Aleafia Health is a federally licensed Canadian cannabis company
- The company owns three licensed cannabis production facilities and operates a located distribution centre in Ontario
- Aleafia Health Inc. (AH) opened trading at C$0.075
Aleafia Health (AH) has signed a one-year contract with a European cannabis distribution partner valued at approximately $1 million.
“This new announcement is significant. It builds upon advancements made in August 2022 when the company revealed a two-year $4.6 million European sales commitment and broadens our international reach,” said Aleafia CEO Tricia Symmes.
“The company is involved in overseas markets because international success leverages both its products and brands, and the addressable European cannabis market is high potential, so this relationship provides another gateway into further European expansion in the medical and potential recreational markets.”
CFO Matt Sale added,
“These international agreements are an important part of our strategic plan for growth and profitability. These activities grow revenue, are not subject to excise duties, lock in attractive margins, and improve our overall cash conversion cycle and net working capital performance, continuing to deliver against one of our core sale pillars for FY 2023.”
Aleafia Health is a federally licensed Canadian cannabis company offering cannabis products in Canadian adult-use and medical markets and in select international markets, including Australia and Germany. The company operates a virtual medical cannabis clinic staffed by physicians and nurse practitioners who provide health and wellness services across Canada.
The company owns three licensed cannabis production facilities and operates a located distribution centre in Ontario, including the largest outdoor cannabis cultivation facility in Canada.
Aleafia Health Inc. (AH) opened trading at C$0.075.