Aleafia Health Inc (TSE:ALEF) (OTC:ALEAF) has received the necessary permits from Health Canada to begin exporting cannabis products to Australia, the company announced late Tuesday.
The Toronto-based company plans to begin shipping its branded medical cannabis oils within the next month. The product will be distributed by CannaPacific Pty Limited, a licensed Australian cannabis producer in which Aleafia Health owns a 10% stake.
READ: Aleafia Health acquires fellow medical cannabis company Emblem at a premium
The permit specifically lets the company export its medical cannabis oils, including its drops and sprays. It previously secured the necessary import permits from Australia's Department of Health.
“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,” Chairman Julian Fantino said. “With among the largest cultivation and extraction footprints in Canada coming online, we will continue to look to new international markets.”
Aleafia Health is a vertically integrated cannabis health and wellness company with operations in cultivation, health clinics and cannabis education. Its shares slipped 2.2% to C$1.33 and nearly 1% to US$1.04 on OTC Markets.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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