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Aleafia Subsidiary Secures 'Breakthrough' Cultivation License For Niagara Facility

Aleafia Subsidiary Secures 'Breakthrough' Cultivation License For Niagara Facility

Cannabis company Aleafia Health Inc. (TSX: ALEF) (OTC: 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. 

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