Aleafia Health (ALEAF) said Tuesday that Health Canada cleared the Canadian medical-cannabis company to begin its first international cannabis-product shipments.
In Toronto trading Aleafia shares advanced 3% to C$1.36. On the U.S. over-the-counter market, the shares closed down 2% at $1.05, or about C$1.38.
The company said it would export its cannabis products to Australia, where the licensed producer CannaPacific, based in West Kempsey, New South Wales, will distribute them.
Aleafia's receipt of Health Canada export permits is a major step in the company's effort to build a global distribution platform, Chairman Julian Fantino said in a statement.
The permits allow the Concord, Ontario, company to export its branded medical-cannabis oils, including drops and sprays. Aleafia also operates clinics and cultivation and distribution facilities and does research.