“This new announcement is very significant: it builds upon advancements made in
“These international agreements are an important part of our strategic plan for growth and profitability,” said
1 This is forward looking information. See cautionary note below.
David Pasieka Replaces Mark Sandler as Aleafia Health Board Chair
The Company also announced that
“The Company has been very grateful for Mark Sandler’s counsel and support of the vision for the future as we transitioned from a bulk wholesale cannabis provider into a branded adult-use, medical and international producer. Under his guidance, the Company consistently increased market share, achieved a top 10 standing in multiple formats and markets for Divvy, negotiated the amendment of its
2 This is a non-IFRS measure. See cautionary statement below.
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About
The Company is a federally licensed Canadian cannabis company offering cannabis products in Canadian adult-use and medical markets and in select international markets, including
The Company owns three licensed cannabis production facilities and operates a strategically located distribution centre all in the province of
Cautionary Statement on Non-IFRS Measures
Adjusted EBITDA is not a recognized financial measure under IFRS, does not have a standardized meaning and therefore may not be comparable to similar measures presented by other issuers. For additional information including the definition and purpose of the non-IFRS measure, see “Cautionary Statement re Non-IFRS measures” in the Company’s Management’s Discussion and Analysis for the period ended
Forward Looking Information Cautionary Statement
Certain statements herein relating to the Company constitute “forward looking information”, within the meaning of applicable securities laws, including without limitation, statements regarding the value of contracts. Such forward-looking statements involve unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements. Forward looking statements include, but are not limited to, statements with respect to our long term profitability, market share, net revenue, branded cannabis net revenue, Adjusted EBITDA, projected value of contracts and other financial outlook projections for fiscal year 2023, our commercial operations, including production and / or sales of cannabis, quantities of future cannabis production, anticipated revenue in connection with such sales, and other Information that is based on forecasts of future results, estimates of production not yet determinable, and other key management assumptions. The following material factors or assumptions were used to develop the forward looking information: Aleafia’s ability to cultivate, harvest and deliver sufficient flower compliant with regulatory and contractual specifications to meet demand, our new European partner will purchase the minimum quantity contractually required to maintain its exclusivity rights, information provided by our new European partner on their future purchasing plans is accurate, our new European customer will comply with its contractual commitments, Euro to Canadian collar currency conversion rates and costs remain stable, market size and growth of the Canadian adult-use and medical cannabis markets and international markets, retail store penetration, script trends, cultivation and processing capacity, costs of production, gross and net revenue per gram. Actual results may differ materially from those expressed or implied by such forward looking statements and involve risk and uncertainties relating to: currency conversion costs, value of foreign and Canadian currencies, future cultivation yield and quality, actual operating performance of facilities, product launches, facility licenses and amendments, average selling prices, cost of goods sold, operating expenses, Adjusted EBITDA, regulatory changes in the Canadian and international markets, and other uninsured risks. The forward looking information was approved by Management as of
Source:
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