Cannabis company Aleafia Health Inc. ALEF ALEAF said Monday that its subsidiary Aleafia Farms Inc. has obtained a cultivation license for its Ontario-based Niagara production facility.
The license was granted by Health Canada on Friday and is valid until March 2023, enabling regulated cannabis growing, breeding, harvesting and sales, according to Aleafia.
The facility is fully equipped to support year-round harvest, and its automated cultivation systems will help in minimizing the costs and execution risks, the company said.
Aleafia said it plans to use the facility to help speed up planting-to-harvest lead times, transferring starter plants cultivated there to its Port Perry Facility for outdoor cultivation.
In addition, Aleafia announced it has plans to apply for a license amendment to enable production in a 90,000-square-foot greenhouse area.
“This is an important and long-awaited breakthrough for Aleafia Health. We can now fully leverage our supply chain across three completed, licensed production facilities,” Aleafia Health CEO Geoffrey Benic said in a statement.
“The Niagara Facility provides both near term, stable inventory for our health and wellness sales channels, and the inputs needed for the 2020 outdoor cultivation season.”
Aleafia shares were trading 4.22% higher at 34 cents per share at the time of publication.
Related Links:
The Week In Cannabis: MedMen And Sundial Lose Their CEOs, Santa Cruz Gets Trippy And Much More
Aleafia Health Completes First White Label Production Of Medical Cannabis Oil
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!