Aleafia Health Successfully Completes TSX Review and Announces Entry into Fifth Province

Rhea-AI Summary

Aleafia Health has successfully completed its TSX delisting review, confirming compliance with the Toronto Stock Exchange's listing requirements. The company is now free from further review, allowing it to continue trading on the TSX. Additionally, Aleafia has expanded its adult-use cannabis portfolio into Manitoba, its fifth province, reaching over 70% of the Canadian population. The company launched a portfolio of twelve products in mid-November, aimed at boosting sales during the holiday season.

Positive

• Completion of TSX delisting review ensures continued trading on the TSX.
• Expansion into Manitoba enhances market presence, reaching over 70% of Canadians.
• Successful launch of twelve products in time for the holiday season.

Negative

• None.

• Successful completion of TSX listing review
• Expansion of adult-use portfolio into key fifth province
• 5 provinces now selling Aleafia’s adult-use products
  

TORONTO, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Further to its previous announcements, Aleafia Health Inc. (TSX: AH, OTCQB: ALEAF) (“Aleafia Health” or the “Company”) is pleased to announce that it has completed the TSX delisting review and confirms that the Company satisfies the Toronto Stock Exchange’s requirements for continued listing. Aleafia Health will continue to trade on the TSX without further review at this time.

“We are very pleased that the TSX has completed its five-month long review process and the Company is no longer being assessed for potential delisting. Over that time period, Aleafia has demonstrated performance in its key financial metrics,” said Tricia Symmes, CEO. “It is the result of disciplined work maintaining scalable growth and profitable practices in all areas of business, driving toward our core goals.”

“Driving revenue growth across multiple channels, tightening our expense profile, and building off the success of our flagship brand, Divvy, Aleafia Health remains focused on becoming a top 10 Licensed Producer in the Canadian cannabis landscape,” said Matt Sale, CFO. “We are excited to continue offering shareholders and consumers a house of brands that shows maintained growth and promise.”

Sunday Market House of Brands in Manitoba: The Company has continued its strategic plan to expand adult-use domestic sales and market share which, adding Manitoba as its fifth provincial distribution region, enabling Divvy and the rest of the portfolio to reach over 70% of the Canadian population. Mid-November, the Company launched a portfolio of twelve products, primarily Divvy, right in time for the holiday season. In a province which has a unique direct-to-retailer sales model, this allows the Company to build sales relationships one step closer to the final consumer.

For Investor & Media Relations:

Matthew Sale, CFO
IR@AleafiaHealth.com 
LEARN MORE: www.AleafiaHealth.com

About Aleafia Health:

The Company 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 which provide health and wellness services across Canada.

FAQ

What are the recent developments for Aleafia Health as of November 2022?

Aleafia Health has completed its TSX delisting review and expanded its adult-use cannabis portfolio into Manitoba.

How many provinces are Aleafia Health products available in?

Aleafia Health products are now available in five provinces across Canada.

What is the significance of Aleafia Health's TSX review completion?

The completion of the TSX review allows Aleafia Health to continue trading without further assessment, indicating compliance with exchange requirements.

Which products did Aleafia Health launch in Manitoba?

Aleafia Health launched a portfolio of twelve products, primarily under its flagship brand Divvy.

What marketing strategy did Aleafia use for its new product launch?

Aleafia utilized a direct-to-retailer sales model in Manitoba to build closer sales relationships with consumers.