Aleafia Health Inc. has signed an agreement to acquire a 160,000 sq. ft. modern, fully automated greenhouse facility in the Niagara region, including its advanced growing equipment ‘acquisition’ for $9.6 million. The transaction is expected to close on Sunday, July 4 this year.
“This latest Aleafia acquisition is a major strategic achievement for the company that strongly positions us for success as we continue to execute on the next phase of our operations,” said Julian Fantino, Aleafia’s executive chairman.
Aleafia is one of Canada’s leading vertically integrated medical cannabis companies focused on ‘patient-centric’ medical cannabis care.
“We, at Aleafia want to ensure that the strains required by our patients are available to them when they need them,” Raf Souccar, Aleafia’s chief executive officer, explained. “With its automated moving container bench system, precision irrigation and highly efficient LED lighting for plants in their vegetative stage, we will have one of the most efficient cultivation greenhouses in the medical cannabis industry, capable of producing up to seven crops per year,” said Lucas Escott, Aleafia’s production specialist.
Key Facts:
- The 160,000 sq. ft. Niagara facility has an immediate expansion capability of another 20,000 sq. ft.
- Both the 160,000 sq. ft. Niagara facility and the 150,000 sq. ft. Scugog expansion plan are fully funded.
- Given the modern state of the Niagara greenhouse, Aleafia is expected to accelerate its production capacity and in turn respond more quickly to its patients needs.
- A second site licence application will be submitted to Health Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR)for the newly acquired Niagara facility.
- The advanced automation and strategic layout at the Niagara greenhouse facility requires minimal retrofitting and it is expected that Aleafia will achieve a greater production capacity at a lower cost.
