Aleafia stock is making gains on Thursday after Aleafia Health (TSX:ALEF) (OTCQX:ALEAF) announced the launch of Kin Slips, its new range of cannabis-infused sublingual strips.
Kin Strips Come to Canada
Aleafia reached an agreement with Kinstate, the manufacturers of Kin Slips, through its Emblem Cannabis subsidiary to gain exclusive access to the Canadian rights for the sublingual strips. At present, they are only available in the state of California but will now be part of Aleafia's range of cannabis 2.0 products, most of which are expected to begin arriving on market over the coming weeks. Aleafia stock has gained over 4% following the announcement.
As well as gaining exclusive access to market and sell Kin Slips, Aleafia Health has also obtained the exclusive rights to the underlying proprietary formulations, manufacturing methodology, and intellectual property supplied by Kinstate. This will allow the company to offer the format in different markets as well as develop new formats for Canadian customers, which we are expected to see come on the market during Q2 2020. Aleafia stock is currently trading for $0.50 over the counter.
“The innovative excellence of Kinstate’s product line has been tested in the world’s largest cannabis market,” said Aleafia CEO Geoffrey Benic. “Our approach of leveraging the formulas, branding, equipment, packaging and production know-how of tried and tested partners significantly accelerates our objective of bringing to market a portfolio of unique, premium cannabis health and wellness brands.” Kin Strips have won several awards and been featured in publications such as Rolling Stone, and are sure to provide a boost for Aleafia stock in the 2.0 market.
Aleafia Stock Down 75% in 12 Months
The Kinstate deal is just one of many partnerships the Aleafia Health has entered into over the past 12 months as its gears up for the cannabis 2.0 market. Despite being one of the very few companies to turn a profit in 2019, Aleafia stock actually fell more than 75% in the last 12 months. Investors will be hoping that deals such as this can set the pot stock up for a strong year in 2020.
Featured Image: Canva