TORONTO, May 12, 2020 (GLOBE NEWSWIRE) — Aleafia Health Inc.’s (TSX: ALEF, OTC: ALEAF) (“Aleafia Health” or the “Company”) wholly owned subsidiary Aleafia Farms Inc. has secured a Health Canada Licence Amendment for its Port Perry Facility’s outdoor cultivation expansion. The expansion adds an additional 60 acres of licenced outdoor cultivation area, bringing the total to 86 acres (3.7 million sq. ft.).
During the inaugural 2019 outdoor cultivation season, the Company harvested 12,747 kgs of dried cannabis flower utilizing 13 acres (of the 26 total acres licensed in 2019) at $0.10 an all-in cash cost per gram to harvest.
Planting will commence in the first week of June for the 2020 outdoor cultivation season, with Port Perry expected to produce up to 102,000 kgs of dried cannabis flower, representing a yield of 1,200 kgs per acre.
“This licence breakthrough allows us to expand our low cost cultivation advantage. More importantly, it ensures a strong supply of input material for high-margin derivative products to be produced at our newly licensed Paris Facility,”
said Aleafia Health CEO Geoffrey Benic.
“I would also like to single out the achievements of our licensing team for three major successes in the last two months. Their dedication and professionalism in successfully juggling our multiple licence applications is invaluable.”
The amendment was granted on May 12, 2020, expires on October 13, 2020 and authorizes cannabis cultivation in “Outdoor Grow Area 5”.
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