Aleafia Health Establishes At-the-Market Equity Program

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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TORONTO, June 09, 2021 (GLOBE NEWSWIRE) — Aleafia Health Inc. (TSX: AH, OTCQX: ALEAF) (“Aleafia Health” or the “Company”) is pleased to announce that it has established an at-the-market equity program (the “ATM Program”). The ATM Program allows the Company to issue and sell, at its discretion, up to $30,000,000 of common shares in the capital of the Company (the “Common Shares”) to the public from time to time through Cantor Fitzgerald Canada Corporation (the “Agent”), as sole agent, at the prevailing market price when issued, directly on the Toronto Stock Exchange or any other recognized marketplace upon which the Common Shares are listed or quoted or where the Common Shares are traded in Canada.

The ATM Program will be effective until June 20, 2023 unless terminated prior to such date by the Company or the Agent or otherwise in accordance with the terms of an equity distribution agreement dated June 8, 2021 (the “Equity Distribution Agreement”) between the Company and the Agent. The Company intends to use the net proceeds from the ATM Program, if any, for growth opportunities and working capital initiatives.

Since the Common Shares will be distributed at the prevailing market prices at the time of the sale, prices may vary among purchasers and during the period of distribution. The ATM Program is being established, and the sale of the Common Shares through the ATM Program will be made pursuant to, and qualified in Canada, by way of a prospectus supplement dated June 8, 2021 (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 19, 2021 (the “Shelf Prospectus”). Further information regarding the ATM Program, including related risk factors, are set out in the Prospectus Supplement. The Prospectus Supplement, Shelf Prospectus and Equity Distribution Agreement are available on SEDAR at www.sedar.com. Alternatively, the Agent will send copies of the Prospectus Supplement and the Shelf Prospectus to Canadian investors upon request by contacting Cantor Fitzgerald Canada Corporation, 181 University Avenue, Suite 1500 Toronto, Ontario M5H 3M7 or by email at CantorATM@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

For Investor & Media Relations

Nicholas Bergamini, VP Investor Relations
1-833-879-2533
IR@AleafiaHealth.com

Learn More

www.AleafiaHealth.com

About Aleafia Health

Aleafia Health is a vertically integrated and federally licensed Canadian cannabis company offering cannabis health and wellness services and products in Canada and with sales and operations in Australia and Germany. The Company operates medical clinics, education centres and production facilities for the production and sale of cannabis.

Aleafia Health owns four significant licensed cannabis production facilities, including the first large-scale, legal outdoor cultivation facility in Canadian history. The Company produces a diverse portfolio of commercially proven, high-margin derivative products including oils, capsules, edibles, sublingual strips, and vapes. Aleafia Health operates the largest national network of medical cannabis clinics and education centres staffed by MDs, nurse practitioners and educators and operates internationally in three continents.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, the ATM Program and any agreements with the Agent with respect thereto, the anticipated offering of Common Shares under the ATM Program and the anticipated use of proceeds from the ATM Program, if any. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including risks contained in the Company’s annual information form filed with Canadian securities regulators available on the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company does not undertake any obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.

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