— Announces Date for Opening of Second Cannabis Education Center —
— Three Additional Leases Signed for Cannabis Education Center Locations —
— Completion of Liberty 360 Campus on track for November —
TORONTO, April 13, 2018 /CNW/ - Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) ("Liberty" or the "Company") announced today the Company will open its second medical cannabis dispensary in Florida, strategically located in St. Petersburg, a city with a population of 257,083. Pending approval by The Florida Department of Health ("DOH"), the opening is scheduled for April 17.
"The opening of our second Florida dispensary demonstrates our ongoing commitment to expand our footprint in the state, making it more convenient for Floridians to access high quality medical cannabis," said CEO George Scorsis. "We look forward to serving more communities in the future with our patient-focused approach as we continue to expand our operations."
Liberty is also pleased to announce the Company has signed three additional leases for Cannabis Education Center locations in Port St. Lucie, Tampa, and Fort Lauderdale. With over 93,000 medical cannabis patients registered with the state, according to the DOH, Liberty Cannabis Education Center locations are chosen based on the needs of the local patient population and the number of prescribing physicians in the vicinity.
The Port St. Lucie site is scheduled to open in early May, followed by the Tampa location later that month. The Tampa location is located within a private hospital which sees approximately 15,000 patients a week, and Liberty is excited to be able to offer its diverse product range to qualified and registered patients. Liberty estimates that the Fort Lauderdale dispensary will launch its services in July. These new operations will be supplemented by our recently announced expanded one-day delivery schedule and hub as well as additional dispensary locations over the coming months.
All of Liberty Cannabis Education Center locations will offer a wide variety of products and brands such as Mary's Medicinals and Incredibles edibles, providing patients with a variety of options to meet their needs across all state-approved methods of cannabis consumption, including vapes, oils, tinctures, capsules and edibles. Liberty's dispensary operations and plans are subject to final approval from the Florida Department of Health's Office of Medical Marijuana Use.
To fulfill the demand needs of the additional Cannabis Education Centers state wide, the Company is pleased to announce that the retro-fit work at the Liberty 360 Campus ("Liberty 360") is well underway and on schedule. The company is on track for full completion of Liberty's 360 Campus by November 2018. Liberty 360's existing facilities, which includes over 200,000 square feet of state-of-the-art greenhouses and processing facilities, will be upgraded to include a commercial kitchen for the production of edibles and a new 12,000-square-foot processing area for the extraction and refining of cannabis oils.
Both the Liberty 360 retro-fit as well as the dispensary roll-out plan are fully funded.
"As an industry leader, Liberty has a deep bench of experience in cultivation, processing and retail as well as the solid financial backing from credible and responsible investors," said CEO George Scorsis. "This foundation benefits patients in Florida in that Liberty will be able to provide a steady, uninterrupted supply of product to meet the growing demand of patients"
About Liberty Health Sciences Inc.
Liberty Health Sciences Inc. is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. states where medical cannabis is legal. Liberty's stringent investment criteria for expansion maximizes returns to shareholders, while focusing on significant near- and mid-term opportunities. Liberty has an extensive background in highly regulated industries, with expertise in becoming a low-cost producer. Liberty leverages commercial greenhouse knowledge to deliver high-quality, clean and safe pharmaceutical grade cannabis to patients.
For more information, please visit libertyhealthsciences.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the growth of demand and registered patient counts in Florida, receipt of all necessary DOH approvals, the anticipated timing of dispensary openings and the completion of the Liberty 360 retro-fit, and the Company's future expansion and growth strategies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the medical marijuana industry in the United States generally, income tax and regulatory matters; the ability of Liberty to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Liberty Health Sciences Inc.
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