Aleafia Health Inc. - CEO, Geoffrey Banic
CEO, Geoffrey Banic
Source: SmallCap Power
  • Aleafia Health’s (AH) subsidiary, Aleafia Health Germany GmbH, has received regulatory approval for medical cannabis sales in Germany
  • The company was issued a controlled drug licence from the Federal Institute for Drugs and Medical Devices and a European Union Good Distribution Practice certification from the Cologne district government
  • The approval allows Aleafia Germany to purchase and distribute medical cannabis products within Germany from its distribution centre in Aachen Brand
  • Initial cannabis sales are expected to begin in September this year
  • Aleafia Health (AH) is currently down 1.82 per cent and is trading at C$0.54 per share

Aleafia Health’s (AH) subsidiary, Aleafia Health Germany GmbH, has received regulatory approval for medical cannabis sales in Germany.

60 per cent of the company is indirectly held by Aleafia Health as part of a joint venture with Acnos Pharma GmbH, a Germany-based pharmaceutical wholesaler and logistics company, which recently completed a state-of-the-art pharmaceutical production and supply chain facility.

Geoffrey Benic, CEO of Aleafia Health, said he is delighted with the launch of operations in the German market.

“This breakthrough allows us to begin capturing market share while working towards the ultimate goal of receiving an EU-GMP Certification for our Paris, Ontario facility,” he added.

Aleafia Germany’s cannabis sales approval comes from two authorisations, the first being a controlled drug license issued by the Federal Institute for Drugs and Medical Devices.

The company also received European Union Good Distribution Practice certification from the Cologne district government.

These permits enable Aleafia Germany to purchase and distribute medical cannabis products within Germany from its distribution centre in Aachen Brand.

Maximillian Claudel, Co-Owner of Acnos Pharma and Managing Director of Aleafia Germany, also commented on the sales approval.

“With our state-of-the-art cannabis distribution centre now licensed and operational, Aleafia Germany is well positioned to quickly start selling cannabis products to our wide network of pharmacies across Germany,” he concluded.

Aleafia Germany is expected to begin initial medicinal cannabis sales in September this year.

Aleafia Health (AH) is currently down 1.82 per cent and is trading at C$0.54 per share at 12:51pm EDT.

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