Capitalizing on Industry Developments, the Liberty Leaf Subsidiary
has Submitted an Abridgement and New Business Plan to Health Canada
VANCOUVER, Oct. 19, 2017 /CNW/ - North Road Ventures, a wholly-owned subsidiary of Liberty Leaf Holdings Ltd. (CSE: LIB, OTCQB: LIBFF and FSE: HN3P) (the "Company" or "Liberty Leaf"), has submitted a significant abridgement to its Access to Cannabis for Medical Purposes Regulations (ACMPR) application currently in review by Health Canada. The abridgement, along with North Road's cutting-edge new business plan, capitalizes on recent developments within the cannabis industry.
With the abridgement, North Road will have a distribution model that alleviates looming supply-chain issues, for "craft" or "artisan" licensed producers. Essentially, North Road is changing its application to become distribution-focused, making the company unique in the crowded field of other cultivation based applicants.
The abridgement includes further significant features that set North Road apart. The submission for an increase in product-vault capacity will result in a fivefold increase in products available for distribution. Also notable is the addition of cannabis oil products, expected to account for 50% or more of projected sales.
ACMPR Application Abridgement, New Business Plan Submitted After Health Canada's Discussion
Following their last discussion with North Road, Health Canada reviewed the company's robust distribution strategy. It was discussed how this could provide a much-needed solution in helping to fulfill supply to the recreational and medical cannabis markets.
Health Canada then requested an abridgement and new business plan to reflect these forward-thinking initiatives. Accordingly, North Road submitted the abridgement and new plan.
"These are very exciting times for Liberty Leaf and North Road Ventures stakeholders," said William Rascan, President and CEO of Liberty Leaf. "We forecast even greater value to the Company with this abridgement and increase in capacity of products available to distribute to legal retailers."
Background to North Road's Submission Process
North Road Ventures' focus is on distributing the highest-quality medicinal cannabis products. North Road will add recreational cannabis once this becomes legalized in Canada.
North Road submitted the abridgement to its ACMPR application under the guidance of Cannabis Compliance Inc.
"Achieving a license requires a broad set of expertise," explains Brian Wagner, CEO of Cannabis Compliance Inc. "Our experienced team has lived and breathed commercial cannabis operations in Canada for years, advising on everything from genetics sourcing, cultivation, security and facility design, to quality assurance, regulatory licensing and business planning."
David Hyde & Associates, a highly respected security firm, has shepherded the security protocols through Health Canada.
About Liberty Leaf
Liberty Leaf Holdings Ltd. is a new Canadian-based, public company whose focus is to build and support a diversified portfolio of cannabis-sector businesses, including cultivation, value-added cannabidiol (CBD)/tetrahydrocannabinol (THC) products, biotech research and supply-chain products within this dynamic and fast-growing sector.
Liberty Leaf also owns 100% of North Road Ventures, a late-stage applicant under Health Canada's ACMPR. Liberty Leaf acquired North Road in October 2016.
On behalf of the Board
Will Rascan, President & CEO
Liberty Leaf Holdings Ltd.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties, which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
SOURCE Liberty Leaf Holdings
For further information: on Liberty Leaf, please visit http://www.libleaf.com or email Will Rascan, [email protected]