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Addition complements vertically integrated LP's ambitious
expansion plan
TORONTO, April 12, 2018 /CNW/ - Aleafia Health Inc. (TSXV:
ALEF) ("Aleafia Health") is pleased to welcome experienced
Master Horticulturalist, Lucas
Escott to its team. Escott joins Aleafia with the intention
of driving the expansion of the company's existing Health Canada
Access to Cannabis for Medical Purposes Regulations (ACMPR)
licensed facility. Aleafia is aggressively pursuing expansion of
its cultivation capacity in 2018.
Aleafia is delighted to now include what the company considers a
leader in the Canadian cultivation space to its line-up. Escott has
been involved in the cultivation of cannabis since the
implementation of Health Canada Marihuana
for Medical Purposes Regulations (MMPR) program, now the
Health Canada ACMPR. Escott was one of the original founders of
Mettrum Inc., which has since been acquired by Canopy Growth. At
Mettrum, Mr. Escott led cannabis production company-wide, and drove
the design, build and Health Canada licensing for three separate
Mettrum facilities.
"I think anyone serious about the science and logistics behind
cannabis production would jump at the chance to be part of Aleafia,
particularly at this exciting time in the company's growth and
development," said Mr. Escott. "I look forward to helping our
company grow as fast as possible."
Aleafia is currently in the cultivation stage of production and
expects to complete its first harvest within the next six
weeks.
Aleafia also announces that it has retained the services of
Hybrid Financial Ltd. ("Hybrid Financial"), 1830012 Ontario
Ltd. o/a Circadian Group, Ltd. ("Circadian") and Stampede
Group Inc. ("Stampede") for various strategic investor
relations and promotional activities. The initiatives includes
marketing, distribution and branding services for the Company with
a focus on elevating the Company's profile in the investment and
cannabis community.
Pursuant to the agreement with Hybrid Financial, Hybrid
Financial will receive a monthly fee of $15,000. The agreement commenced April 10, 2018, for an initial term of three
months, following which the agreement may be renewed by the Company
on further period of three months. After the renewal period, the
agreement will automatically terminate unless further renewed no
less than 15 days prior to the end of the renewal period. The
Company also granted Hybrid Financial 1,000,000 stock options at
$1.25 per share for a 5 year term
which vest quarterly over a 12 month period. All vested options
shall be eligible for exercise for a period ended 12 months
following termination of the agreement. The agreement is subject to
the approval of the TSX Venture Exchange.
Pursuant to the agreement with Circadian, Circadian will receive
a cash fee of $25,000 for month 1,
$10,000 a month for months 2-6,
$25,000 for month 7 and $10,000 a month for months 8-12. The Company also
granted Circadian 100,000 stock options at $1.25 per share which vest quarterly over a 12
month period. The agreement is subject to the approval of the TSX
Venture Exchange.
Pursuant to the agreement with Stampede, Stampede will receive a
cash fee of $60,000 over a 6 month
period. The Company also granted Dimitri
Soudas, director, officer and principal shareholder of
Stampede, 200,000 stock options at $1.25 per share which vest quarterly over a 12
month period. The agreement is subject to the approval of the TSX
Venture Exchange.
About Aleafia Health Inc.:
Aleafia Health Inc.
is one of Canada's leading,
vertically integrated medical cannabis company with a unique
patient-focused, medical cannabis healthcare solution. Led by a
distinguished and experienced corporate leadership team, Aleafia
Health Inc. is pioneering a patient-centric experience that
includes personalized services before, during and after
treatment. Aleafia's 22 cannabis clinics are staffed by licensed,
practicing physicians. Aleafia Health Inc. has realized
sustained patient acquisition growth and retention, underscoring
the success of Canada's first
"patient-centric" cannabis-based health network. For more
information, please visit www.aleafiainc.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains forward-looking statements and
information that are based on the beliefs of management and reflect
the Aleafia's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information. The forward-looking statements and information in
this press release includes information relating to the
implementation of Aleafia Health's business plan. Such
statements and information reflect the current view of Aleafia with
respect to risks and uncertainties that may cause actual results to
differ materially from those contemplated in those forward-looking
statements and information.
Although Aleafia believes that the assumptions and factors used
in preparing, and the expectations contained in, the
forward-looking information and statements are reasonable, undue
reliance should not be placed on such information and statements,
and no assurance or guarantee can be given that such
forward-looking information and statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such information and
statements. Accordingly, readers should not place undue
reliance on any forward-looking information or statements contained
in this press release. The forward-looking information contained in
this press release is made as of the date hereof, and Aleafia does
not undertake to update any forward-looking information that is
contained or referenced herein, whether as a result of new
information, future events or otherwise, except in accordance with
applicable securities laws. All subsequent written and oral
forward-looking information and statements attributable to Aleafia
or persons acting on its behalf is expressly qualified in its
entirety by this notice.
SOURCE Aleafia Inc.