Aleafia Health Inc (OTCMKTS:ALEAF) over the last month has shown considerable growth. ALEAF has increased more than 200% over the last month and over the last three months is up more than 400%. The driver for this growth has to do with a research partnership on insomnia with Cronos and another smaller company, Gingko Bioworks.
Volume has also been extremely strong for ALEAF trading just short of 10 million in September. With all this postivity and momentum, ALEAF announced an application to list on the NASDAQ. According to the company, ALEAF is expecting its fully funded annual growing capacity to come to 38,000 kg of cannabis flower in 2019. It has 50,000 medical cannabis patients.
Aleafia Health Inc (OTCMKTS:ALEAF) bills itself as a company that owns and operates a healthcare clinic that provides medical cannabis therapy to achieve optimum recovery and minimize illness and injury’s cumulative effects. The company provides medical cannabis therapy, pain management, physiotherapy, chiropractor, osteopathy, registered massage therapy, laser therapy, orthotics, and custom braces and compression socks. It provides consulting and support services for managing cannabis-sensitive cases.
The Company operates the largest brick and mortar medicinal cannabis clinic network in Canada under the Canabo Medical Clinic brand with 22 nationwide cannabis clinics and growing, which is staffed by licensed, practicing physicians. Aleafia has obtained over 50,000 unique patients and maintains the largest medical cannabis patient data set in Canada.
The company assists rehabilitation professionals, case managers, social workers, life care planners, psychologists, family physicians, physiotherapists, litigators, and third-party insurance companies. Aleafia Inc. is based in Concord, Canada.
According to company materials, “Aleafia is a leading, vertically integrated medical cannabis company with a unique focus on delivering quality patient care from “seed” to “sale.” Aleafia is uniquely positioned with a singular focus on the medical cannabis market. The company operates the largest brick and mortar medicinal cannabis clinic network in Canada under the Canabo Medical Clinic brand, which is staffed by licensed, practicing physicians. Aleafia has obtained over 50,000 unique patients and maintains the largest medical cannabis patient data set in Canada. Aleafia’s state of the art production facilities will allow for the production of high-quality strains at low cost. Aleafia’s production will focus on securing the highest-quality medicinal product for its growing patient base.”
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On the financial side, ALEAF reported Record Revenue in Q2; Revenue for the three months ended June 30th, 2018 totaled $1,207,886.
CEO Geoffrey Benic commented “I am very pleased with the significant achievements Aleafia has made in 2018. Aleafia now boasts two low-cost, modern cannabis production facilities, along with a medical cannabis clinic network that has attained 50,000 unique patients. The exponential growth achieved by our company will ensure we continue to provide sustained long-term value for both our patients and shareholders.”
Plus, in September ALEAF received a $10 million strategic investment from the Serruya Family. The family purchased the shares at $3.1 per share, allowing for a premium on the shares of the company. The total private placement is expected to be completed by 15th October, two days before the legalization of cannabis is done and will see ALEAF obtain 51% of Serruya-led One Plant.
Carrying a market cap of $380.34M, Aleafia Health Inc (OTCMKTS:ALEAF) has a significant war chest ($30.3M) of cash on the books, which stands against virtually no total current liabilities. ALEAF is trading strong now and this week will be a decent barometer to tell if they can hold these gains. We will be writing updates as more news hits the wire. Sign-up for continuing coverage on shares of $ALEAF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ALEAF, either long or short, and we have not been compensated for this article.