Aleafia Vaults on Being Subject of New Article

Concord, Ontario-based Aleafia Health Inc. (TSX-Venture:ALEF) made noise on Canadian small-cap markets Thursday, on word of a newly-released article by CFN Media Group.

The CFN piece goes on to say Aleafia recently reported third quarter financial results containing the first cannabis revenue in its history, days after securing its Health Canada Sales License. Revenue grew 36% quarter-over-quarter to $1.6 million, while gross profits reached $2.2 million.

Management expects these revenues to accelerate moving into the New Year as it brings about 98,000 kilograms of annual production capacity online next year.

Aleafia Health operates 22 medical cannabis clinics staffed by physicians and nurse practitioners. With over 50,000 patients serviced through these clinics, the company has a significant source of recurring revenue with a high competitive barrier.

Aleafia shares jumped 12.5 cents, or 8.8%, Thursday to $1.55, on volume of more than 561,000 shares