TORONTO, May 07, 2020 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: ALEF, OTC: ALEAF) (“Aleafia Health” or the “Company”) is announcing that director Bill Stewart has indicated his intention to resign from the Company’s Board effective May 15 along with outgoing directors Julian Fantino and Raf Souccar.
As previously announced, two new independent directors, Rhonda Lawson and Glenn Washer will be appointed to the Board on May 16. The new Board will be composed entirely of independent members, furthering the Company’s goal of enacting strong corporate governance and best practices.
“On behalf of the Aleafia Health team, I’d like to thank Bill for his long-standing contributions to the Company. Like Julian and Raf, his distinguished record as a first responder, serving as Chief of Toronto’s Fire Services, has served the Company well since its founding,” said Aleafia Health CEO Geoffrey Benic.
“It’s been a great pleasure to see Aleafia Health’s development from concept to a strong and thriving publicly traded company today. The vision articulated by founders Julian and Raf in its founding remains true today as we provide science-based medical cannabis care to a broad range of patients,” said Stewart. “I wish the board, management and entire team well and look forward to Aleafia Health’s bright future.”
Upon Ms. Lawson and Mr. Washer’s appointment, the Board intends to update its board leadership including the election of a new Board Chair.
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About Aleafia Health:
Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and in international markets. The Company operates medical clinics, education centres and production facilities for the production and sale of cannabis.
Aleafia Health owns three significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules and sprays. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators and operates internationally in three continents.
Innovation, the heart of Aleafia Health’s competitive advantage, has led to the Company maintaining a medical cannabis dataset with over 10 million data points to inform proprietary illness-specific product development and its highly differentiated education platform FoliEdge Academy. The Company is committed to creating sustainable shareholder value; the TSX Venture Exchange named Aleafia the 2019 top performing company prior to its graduation to the TSX.
Forward Looking Information
This news release contains forward-looking information within the meaning of applicable Canadian and United States securities laws. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.