Serruya to invest $10 mln in Aleafia, form cannabis retail JV

Aleafia Health Inc (TSX-V: ALEF), a Concord, Ontario-based medical cannabis cultivator and clinic operator, has agreed to receive a $10 million investment from Serruya Private Equity (SPE). The deal, expected to close in October, was announced with the formation of a joint venture (JV) that will support Aleafia's entry into the adult-use cannabis industry and related retail operations in Canada. Aleafia will hold a 51 percent interest in the JV, while SPE will hold 49 percent. The JV's initial launch will include more than 20 retail locations in Ontario and a plan to expand across Canada. SPE invests on behalf of Canada's Serruya family.

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