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Aleafia Health Inc. (TSX: AH, OTCQB: ALEAF) is a premier, vertically integrated, federally licensed Canadian cannabis company. Focused on delivering high-quality health and wellness products, Aleafia Health operates medical clinics, education centers, and production facilities across Canada and international markets. The company boasts three significant licensed cannabis production facilities, including the first large-scale legal outdoor cultivation facility in Canadian history.
Aleafia Health's diverse portfolio includes oils, capsules, sprays, dried flower, pre-rolls, vapes, edibles, sublingual strips, and topicals. The company's medical cannabis clinics and education centers are staffed by physicians, nurse practitioners, and educators, creating the largest national network of its kind in Canada. Internationally, Aleafia Health is active in three continents, including Australia and Germany.
Recent financial highlights include the second consecutive quarter of positive Adjusted EBITDA with a 14% Adjusted EBITDA margin, placing Aleafia among the top three for profitability in its sector. The company reported a 39% growth in adult-use revenue from the prior quarter and a 40% increase in medical net revenue, achieving a record $1.1 million month in November 2022. Aleafia also shipped its first orders under new European agreements, estimating $1 million in sales to its second European partner.
Despite industry-wide challenges, Aleafia achieved a 37% gross profit before fair value adjustments, reflecting a strategic focus on cost containment and profitability. The company's adult-use brand, Divvy, remains a key driver, contributing to notable revenue growth and market share. Aleafia's expansion into Manitoba and successful international ventures are testaments to its robust operational capabilities and strategic foresight.
However, Aleafia Health is navigating financial pressures, including breaches of certain covenants under its Senior Secured Loan Agreement. The company has entered creditor protection under the Companies' Creditors Arrangement Act (CCAA), aiming to restructure its business and financial affairs. Red White & Bloom Brands Inc. (RWB) has been selected as the successful bidder for Aleafia's assets in a court-supervised sale process, subject to court approval.
Aleafia Health remains committed to maximizing value for its stakeholders while continuing to focus on innovation, strategic growth, and delivering high-quality cannabis products to its customers.
Aleafia Health has completed planting on 86 acres at its outdoor cultivation facility in Port Perry, Ontario, a month ahead of schedule and significantly larger than the previous year's yield of 31,200 kgs. This achievement is expected to enhance their total yield and follows facility improvements, including irrigation and additional drying buildings. The 2021 harvest will include various THC and CBD strains, along with new selections based on prior cultivation trials. Aleafia's cost-effective cultivation strategy supports its dried flower and derivative product offerings.
Aleafia Health announced the launch of its innovative CBD Freshly Minted Roll-on under its Noon & Night brand, emphasizing the growing demand for CBD wellness products. CEO Geoffrey Benic highlighted the brand's market leadership and successful product development, achieving record adult-use sales. The roll-on features a blend of essential oils and 200 mg of CBD, designed for easy local application. Additionally, Benic acquired 357,000 common shares, showcasing his confidence in the company's growth and commitment to high-margin product offerings.
Aleafia Health announced the expansion of its dried flower portfolio with four new large format offerings under its Divvy brand. These include 14-gram pouches featuring the THC strain Sour Kush and the new high-potency cultivar Flo, along with 10-gram pre-milled flower options. This launch targets the dried flower and pre-roll market, which accounted for 70% of total legal cannabis sales in Ontario in late 2020. The products will initially be available in Alberta, backed by positive consumer feedback and strong early sales.
Aleafia Health has successfully exported dried cannabis flower to Germany, marking a significant milestone in accessing Europe's mature cannabis market. The company is fulfilling purchase orders to Germany and has secured permits for additional shipments to Australia. CEO Geoffrey Benic highlighted that this new sales channel could provide consistent revenue. The shipment features Aleafia's THC cultivar, Sour Kush, which exceeded quality standards and did not require irradiation, giving it a competitive edge. The European cannabis market is projected to reach $4.7 billion by 2025, with Germany accounting for nearly half.
Aleafia Health, a leader in cannabis wellness, announced that CEO Geoffrey Benic will present at Canaccord Genuity’s Global Cannabis Conference on May 11, 2021, at 11:00 a.m. EDT. Investors can access the live webcast and a subsequent replay via a provided link. Aleafia Health operates Canada’s largest network of medical cannabis clinics and has a diverse portfolio of cannabis products. The company is vertically integrated, with licensed production facilities, including the first large-scale legal outdoor cultivation site in Canada.
Aleafia Health has secured a Health Canada Research Licence for its cannabis product manufacturing centre in Paris, Ontario, enabling human sensory analysis and palatability trials. This regulatory breakthrough complements the company's ongoing innovation strategy in cannabis products. CEO Geoffrey Benic emphasized the importance of product evaluation practices used in the food industry. Aleafia is developing new product formats, including dried flower, edibles, and extracts, aiming for consistent sensory assessments during development.
Aleafia Health, a leader in cannabis wellness, will present at VirtualInvestorConferences.com on April 20 at 11:00 ET. CEO Geoffrey Benic will engage live with investors, allowing real-time questions. The company recently reported a significant 233% quarter-over-quarter increase in cannabis net revenue and a positive adjusted EBITDA of $4.3 million for Q4 2020. Investors can pre-register for the event and access an archived webcast post-event. Aleafia Health operates extensive cannabis health services across Canada and internationally.
Aleafia Health will release its 2021 Q1 results on May 11, 2021, before market opening. A conference call is scheduled for the same day at 8:30 a.m. EDT, hosted by CEO Geoffrey Benic and CFO Benjamin Ferdinand. The call will be accessible via toll-free numbers for participants in the USA/Canada and internationally. Aleafia Health, a licensed Canadian cannabis company, focuses on providing health and wellness products and services, operating medical clinics, and producing cannabis derivatives.
Aleafia Health has launched its innovative cannabis wellness brand, Noon & Night, introducing two new products: Omega CBD Soft Gels and Lavender Fizz CBD bath bombs. The soft gels are noted for their full-spectrum CBD extract, suspended in omega-3 fish oil, marking a first in the Canadian cannabis sector. The bath bombs, made with locally sourced ingredients, are competitively priced. This launch supports Aleafia's expansion into the Canadian adult-use market, aligning with its strategy to cater to health-conscious consumers.
Aleafia Health has launched its new cannabis brand, Divvy, aimed at frequent cannabis consumers who prioritize quality and affordability. Divvy features five products, including pre-rolls and dried flower, leveraging Aleafia's low-cost cultivation methods. The launch supports Aleafia's strategy to penetrate the adult-use market significantly. With pre-rolls and dried flower accounting for 70% of cannabis sales as of December 2020, Aleafia expects to expand Divvy's offerings throughout 2021. This move underscores Aleafia's growing production capacity and commitment to sustainable practices.
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