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    cannabis investing

    Aleafia Health Posts 2018 Q3 Financial Results

    Bryan Mc Govern
    Nov. 26, 2018 08:29AM PST
    Cannabis Investing News

    Aleafia Health announced its Q3 fiscal results for the year 2018 securing C$1.6 million in revenue.

    Aleafia Health (TSXV:ALEF) announced its Q3 fiscal results for the year 2018 securing C$1.6 million in revenue.

    As quoted in the press release:

    Q3 Financial Highlights:

    • Total revenue for the three and nine months ending September 30, 2018 was $1.6 million and $3 million, respectively. Q3 2018 revenue was up 36 per cent over Q2 2018.
    • Gross profit for the three and nine months ending September 30, 2018 was $2.2 million and $3.1 million, respectively.
    • For the Health & Wellness division, Q3 2018 revenue and operating income before non-cash items was $1.06 million and $206,458, respectively.
    • For the Farms & Products division, Q3 2018 revenue and operating income before non-cash items was $529,146 and $217,358, respectively. This included the sale of the company’s first harvest.
    • As of September 30, 2018, the Company had $22.8 million in cash on hand.

    “As the company has achieved a number of important milestones, we are extremely encouraged by our third quarter results. It has been a transformative period for Aleafia. Our first cannabis sale marks the beginning of our cultivation expansion with Aleafia producing 98,000 [kilograms] of dried flower on an annual run rate basis,” said Aleafia Chairman Julian Fantino. “We look forward to soon supplying our growing base of over 50,000 patients with Aleafia-produced medical cannabis.”

    Click here to read the full press release.

    Source: globenewswire.com

    tsxv:alefcannabis investingjulian fantino
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