TORONTO, Dec. 02, 2019 (GLOBE NEWSWIRE) — PRESS RELEASE — Aleafia Health Inc. has reached a definitive Cannabis Material Purchase Agreement on Nov. 29, 2019, with a Canadian Licensed Producer. Under the terms of the agreement, Aleafia Health will sell 2,840 kg of dried cannabis flower at a price per gram of $2.50, generating $7.1 million in revenue. The transaction will include up to three shipments, all of which will be completed before January 31, 2020.
The dried flower was cultivated at Aleafia Health’s Port Perry Outdoor Grow facility, which yielded 10,300 kg in 2019. The yield figure is limited to dried flower only, and excludes stems or other parts of the cannabis plant.
“This sale validates the strength of our outdoor cultivation. Moving forward, we have a strong inventory of high quality outdoor input material to accelerate the growth of our priority international and Canadian medical sales channels,” said Aleafia Health CEO Geoffrey Benic.