On September 3, 2019, Aleafia Farms Inc., a wholly owned subsidiary of Aleafia Health Inc. (TSX: ALEF) (OTC: ALEAF) (FRA: ARAH), acquired the farmland directly adjacent to its Port Perry Outdoor Grow facility. The purchase will allow Aleafia Health to commence its Outdoor Grow Phase II expansion, adding an additional 60 acres of cannabis cultivation area, for a total of 86 acres. The cash purchase price was $1.2 million.
Previously on August 28, 2019, Aleafia Health’s wholly owned subsidiary, Emblem Corp., completed the sale of an unused 43-acre property, located at 539 Paris Road in Brant for net cash proceeds of $8.2 million.
Gowling WLG was counsel to Aleafia Health in these transactions with a team that included Jason Saltzman (corporate) and Manuel Martins (real estate), assisted by law clerk Linda Szabatin.
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