Streetbeat News

ALEAF

Aleafia Health Inc.

https://aleafiahealth.com/

CEO

Geoffrey Benic

Employees

Industry

Other Food Crops Grown Under Cover

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Banzai has been granted an extension by the Nasdaq Hearing Panel to regain compliance with listing requirements.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2024 | 12:34 pm

Red White & Bloom Brands Inc. (RWB) has completed the acquisition of Aleafia Health Inc. and its subsidiaries for a total consideration of $31,667,700. The deal includes intellectual property assets, shares in Emblem Cannabis Corporation, Canabo Medical Corporation, and Aleafia Retail Inc., and a 9.4% stake in One Plant (Retail) Corp. This acquisition expands RWB's sales channels across five Canadian provinces, medical channels across Canada, and international channels to Australia, Germany, and the UK. It also includes cultivation and storage facilities in Ontario. The combined entity is expected to generate CA$140 million in annualized revenues and be accretive on an EBITDA basis in fiscal 2024. RWB shares traded lower by 7.6923% at $0.06 per share following the announcement.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 3:36 pm

The most-read cannabis stories of 2023 on Benzinga included a range of topics from the benefits of cannabis for aging brains, political shifts towards legalization, and high-profile celebrity endorsements. Key highlights include a study suggesting cannabis does not negatively impact cognition in older adults, Elon Musk's comments on psychoactive drugs, a man ditching morphine for marijuana to alleviate arthritis, Aleafia Health's expansion into Europe's medical cannabis market, a pathogen threatening California's cannabis crops, Florida's telehealth renewals for medical marijuana, GOP senators admitting legalization impacts drug cartels, Tilray's acquisition of beer brands from Anheuser-Busch, Snoop Dogg's anti-Trump TikTok video, Georgia's medical cannabis sales in pharmacies, and Ohio's GOP-led Senate approving expanded marijuana legislation.

Portfolio Pulse from Nina Zdinjak

December 28, 2023 | 2:54 pm

Marijuana stocks experienced significant volatility with some companies seeing extreme gains while others faced steep losses. Notable gainers included MPX International and GrowLife, with MPX International closing up 7000.00% and GrowLife closing down 33.00%. The article lists numerous other cannabis-related companies with varying degrees of price changes on the trading day.

Portfolio Pulse from Benzinga Insights

November 16, 2023 | 9:30 pm

Aleafia Health Inc. (ALEAF) has selected Red White & Bloom Brands Inc. (RWBYF) as the successful bidder in its court-approved sale and investment solicitation process. The Ontario Superior Court approved the terms of a Stalking Horse Asset Purchase and Share Subscription Agreement, which allows RWBYF to acquire certain assets from Aleafia and subscribe for shares of certain Aleafia subsidiaries. Aleafia also agreed to sell its Grimsby facility to a third-party purchaser. The transactions are expected to close by November 22, 2023.

Portfolio Pulse from Jelena Martinovic

October 13, 2023 | 3:33 am

US legal cannabis sales are predicted to exceed $28 billion in 2023, prompting Canadian cannabis producers to consider focusing on exporting or partnering with US companies. Some Canadian companies, such as Canopy Growth and Sundial Growers, have already made strides in the US market. Canopy Growth has outperformed other producers since the news of cannabis rescheduling. Canadian cannabis exports reached C$160 million in FY23, a 50% increase from the previous fiscal year.

Portfolio Pulse from Nicolás Jose Rodriguez

September 10, 2023 | 4:48 pm

The Ontario Superior Court of Justice has approved a stalking horse asset purchase and share subscription agreement where Red White & Bloom Brands Inc. (OTC:RWBYF) (CSE:RWB) would acquire certain assets from Aleafia Health Inc. (OTCPK:ALEAF) and subscribe for shares of certain subsidiaries of Aleafia Health. The agreement is part of Aleafia's proceedings under the Companies’ Creditors Arrangement Act. The deal is subject to certain conditions, including court approval, regulatory approvals, and the licenses being in good standing.

Portfolio Pulse from Vuk Zdinjak

August 23, 2023 | 12:57 pm

The Ontario Cannabis Store (OCS) has announced a reduction in most wholesale markups on marijuana products sold to retailers starting in September. This move is expected to save the industry $60 million in 2024. Large marijuana operators such as Aleafia Health, Fire & Flower, Canopy Growth, Tantalus Labs, and Aurora Cannabis, who have faced operational challenges and downsizing, may benefit from this change.

Portfolio Pulse from Nina Zdinjak

July 31, 2023 | 1:20 pm

Aleafia Health Inc. has obtained creditor protection to pursue restructuring and sale process. Red White & Bloom Brands Inc. has provided an update on Aleafia's indebtedness in connection with a loan agreement. Aleafia has received an order from the Ontario Superior Court of Justice to restructure its business and financial affairs. RWB agreed to advance debtor-in-possession financing to fund Aleafia's proceedings and other short-term working capital requirements. Aleafia was in breach of certain covenants under the senior secured loan agreement, and the proposed transaction between the parties had been mutually terminated.

Portfolio Pulse from Vuk Zdinjak

July 25, 2023 | 2:25 pm

The article lists the cannabis stocks that gained and lost on July 24, 2023. Some of the gainers include Chalice Brands, Maple Leaf Green World, and InMed Pharmaceuticals. On the other hand, some of the losers include Choom Holdings, Tetra Bio Pharma, and 22nd Century Group.

Portfolio Pulse from Benzinga Insights

July 24, 2023 | 9:30 pm

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