Vertically integrated cannabis company Aleafia Health Inc. AH ALEAF is expanding its global distribution network via a deal with Apipharm Veletrgovina d.o.o.
Aleafia agreed to supply the Europe-based pharmaceutical producer and distributor with dried cannabis flower under the three-year agreement.
The cannabis is cultivated at the company’s Niagara greenhouse facility.
According to a Friday press release, Apipharm Veletrgovina already ordered 1,000 kilograms of dried cannabis flower.
The Toronto-based company expects to ship the initial purchase order as early as the end of the first quarter of the current year.
Apipharm CEO Matevz Pompe said that teaming up with the Canadian cannabis supplier will “strengthen our market position in the development of advanced pharmaceutical formulations.”
Aleafia Health CEO Geoffrey Benic added that they are “delighted to open a new international sales channel.”
“Building on our best results to date in the most recent quarter, we will continue to execute on near-term international sales opportunities, fully leveraging our world-class Canadian cannabis production assets, ” Benic stated.
Meantime, according to its recent earnings update, Aleafia saw a net loss of $19.76 million in the third quarter while its revenue amounted to $4.97 million.
In December, the company introduced high potency CBD 50 oils, including SymblTM High CBD 50 and EmblemTM CBD 50.
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