Aleafia Health Stock Price, News & Analysis

Aleafia Health reported a remarkable 151% increase in branded cannabis net revenue, totaling $36.8 million for fiscal year 2022, up from $14.6 million the previous year. The company also experienced a 55% growth in revenue for Q5, amounting to $8 million, with international sales soaring 168%. Aleafia has secured a $5.6 million equity financing to support growth and anticipates revenue between $53 million and $63 million for fiscal year 2023. The company aims for Adjusted EBITDA profitability in the latter half of FY 2023.

Aleafia Health will announce its fifth quarter and fiscal year results on June 28, 2022, before market open. The earnings call will occur at 8:30 a.m. EST, hosted by CEO Tricia Symmes and CFO Matt Sale. Aleafia Health operates federally licensed cannabis production facilities and offers a range of cannabis derivative products in Canada. The Company has ambitions for international growth and operates a network of medical cannabis clinics. Forward-looking statements caution that actual results may vary significantly due to risks and uncertainties inherent in the cannabis sector.

Aleafia Health has successfully closed a private placement, raising approximately $5.6 million. The placement involved the issuance of 68,151,515 units at $0.0825 per unit, each unit comprising one common share and one-half share purchase warrant, exercisable at $0.1025 until June 24, 2026. The proceeds will support working capital and capital expenditures. This funding is crucial for the company's growth plans and fulfills a condition for amending convertible debentures, as stated by CEO Tricia Symmes.

Aleafia Health (OTCQX: ALEAF) has postponed the announcement of its fifth quarter and fiscal year results for the period ending March 31, 2022. The company will provide updates on the new date and details for the earnings call in the future. Aleafia Health operates three licensed cannabis production facilities in Canada and is involved in the production of a variety of cannabis products for both the adult-use and medical markets.

Aleafia Health has successfully secured approval for amendments to its outstanding unsecured convertible debentures, with approximately 76.12% of debentureholders consenting, surpassing the required 66 2/3%. The previously scheduled meeting for June 23, 2022, has been canceled. The transaction is set to close during the week of June 27, 2022, with qualifying debentureholders eligible for a consent fee, estimated at $84.65 per $1,000 principal amount, payable in additional 2028 Debentures. This development is crucial for improving the Company’s debt structure.

Aleafia Health has announced that approximately 73% of debentureholders have approved amendments to its unsecured convertible debentures, exceeding the required 66 2/3% threshold. Consequently, the previously scheduled meeting for June 23, 2022, will be canceled. This approval supports Aleafia’s ongoing balance sheet transformation and plans for a $5.6 million equity financing. Debentureholders participating in the consent solicitation could be eligible for a consent fee. The company is committed to enhancing its cannabis production and distribution strategies.

Aleafia Health will announce its Q5 and fiscal year results on June 23, 2022, for the period ending March 31, 2022. A conference call will follow at 8:30 a.m. EST, featuring CEO Tricia Symmes and CFO Matt Sale. Aleafia Health is a federally licensed Canadian cannabis company with three production facilities and a robust product portfolio, including oils and edibles. The company also operates a network of medical cannabis clinics. Investors can access the call via toll-free numbers and a webcast link, with a replay available afterward.

Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) announced that Debentureholders representing approximately 61.4% of outstanding Convertible Debentures have signed Support Agreements for proposed amendments. The company is on track to achieve the 66 2/3% consent needed to implement changes, which will help eliminate refinancing uncertainty and improve cash flow. A $5.6 million equity financing complements these amendments, designed to facilitate the company’s growth in the Canadian market and internationally. Consent Fees will be available to Debentureholders who provide valid voting instructions.

Aleafia Health reported significant growth in the adult-use cannabis market, moving up three positions to rank 13th as of April 2022, with a market share increase of 53% to 2.5% year-over-year. The company launched 12 new SKUs for the Ontario Cannabis Store and eight for AGLC, focusing on high-margin products like flower, pre-rolls, and vapes. Aleafia anticipates a solid second half of 2022, supported by over $9.6 million in purchase orders and a run-rate of $28 million in net revenue, up from $1.7 million in Q1 2021.