Aleafia Health (TSX:ALEF,OTCQX:ALEAF) said on Thursday (November 14) that it has obtained a critical license for its participation in the next phase of cannabis legalization in Canada, but it has not committed to a timeline for product availability.

The producer confirmed that Health Canada has approved two license amendments for the company at its facility in Paris, Ontario, allowing for the production and sale of new product formats.


Aleafia Health CEO Geoffrey Benic said the timing gives the company the ability to jumpstart production of the products, which are set to be introduced under Canada’s second stage of legalization.

Edible and infused cannabis products will become available in the country starting in mid-December as part of the federal government’s rollout plan.

Various marijuana producers have raced to make their products available on day one and to introduce consumers to their branded items.

In an email statement to the Investing News Network, Aleafia Health CFO Benjamin Ferdinand said the company had originally expected to produce its novelty products out of the second phase expansion of its Paris facility.

“However, with these license amendments, we are able to jumpstart this process, as we now have adequate, licensed processing space to produce new formats, including edibles and topicals,” he said.

The company wasn’t able to offer a proposed timeline for when its products might become available, but said an announcement to investors is incoming.

On Tuesday (November 12), Aleafia Health issued its Q3 earnings report, indicating a total revenue increase of 34 percent from the previous period, resulting in a C$5.3 million total. The company also reported net income of C$1.9 million following a loss of C$11.5 million during the previous quarter.

“We acquired the exclusive Canadian rights to a number of leading international cannabis brands, along with formulations and production techniques, while we have also long been developing our own formulations in-house,” said Ferdinand.

“With an accelerated timeline to bring new formats to market now available to us, we will look forward to announcing our plans for differentiated, health and wellness focused Cannabis 2.0 brands in the near future,” he continued.

Shares of the company stumbled following its quarterly results by 12.35 percent, representing a loss per share of C$0.10. At the end of trading on Thursday, the company was valued at C$0.70 per share.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less

It’s been just over a year since recreational cannabis was legalised in the Australian Capital Territory (ACT), home to the nation’s capital city of Canberra.

Announced on September 25, 2019, and brought into effect on January 31, 2020, the rules make it legal to possess and personally use small amounts of cannabis.

Keep reading... Show less

Pac Roots Cannabis Corp. (CSE: PACR) (“PacRoots” or the “Company”), announces the closing of its previously announced non-brokered private placement (see press release dated January 25, 2021).

Aggregate gross proceeds of $1,340,685.90 were raised through the issuance of 7,448,255 units (each a “Unit”). Each Unit consists of one common shares and one share purchase warrant. Each warrant is exercisable at a price of $0.30 per share until February 23, 2024.

Keep reading... Show less

 Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States will release its fourth quarter 2020 financial results on Tuesday, March 23, 2021 before markets open. Following the earnings release, management will host a conference call at 8:30 AM Eastern Time to review the financial results.

All interested parties can join the conference call by dialing 1-888-231-8191 or 1-647-427-7450, conference ID: 7066881. Please dial in 15 minutes prior to the call to secure a line. The conference call will be archived for replay until March 30, 2021 . To access the archived conference call, please dial 1-855-859-2056 and enter the encore code 7066881.

Keep reading... Show less