The action in shares of Aleafia Health Inc (OTCMKTS:ALEAF) has left some investors a bit nervous over recent months, but the past few days have started to revive some serious hope, with the stock bolting nearly 50% higher in that time. To make matters more interesting, the company just announced that it has received multiple Export Permits from Health Canada, which allow the company to begin its first international cannabis product shipment. According to the release, the company expects to ship its branded medical cannabis oils in the next month, which will be distributed by Australian Licensed Producer CannaPacific Pty. Limited. Aleafia Health owns a 10 per cent equity stake in CannaPacific.
“The receipt of Health Canada Export Permits enables Aleafia Health to sell high-margin, value-added cannabis products across international borders for the first time, representing a major milestone as we augment our global distribution platform,” said Aleafia Health Chairman Julian Fantino. “We continue to prove the international viability of our highly differentiated cannabis health and wellness ecosystem with products, clinic operations, education and distribution. With among the largest cultivation and extraction footprints in Canada coming online, we will continue to look to new international markets.”
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 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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As noted above, ALEAF just announced that it has received multiple Export Permits from Health Canada, which allow the Company to begin its first international cannabis product shipment.
We’ve witnessed 9% added to share values of the company over the past week of action. In addition, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 39% over the long run average.
“This is such a tremendous milestone for CannaPacific. Our relationship with Aleafia Health continues to accelerate our strategic vision of leadership in the Australasian medical cannabis market,” said CannaPacific CEO Joshua Dennis. “We have the facility, the proven management team, and now the product portfolio to continue executing towards our goal.”
Currently trading at a market capitalization of $285M, ALEAF has a significant war chest ($22.8M) of cash on the books, which stands against about $1.8M in total current liabilities. ALEAF is pulling in trailing 12-month revenues of $4.2M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 79.5%. This may be a very interesting story and we will look forward to updating it again soon. 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.