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A few months ago, Aphria Inc. (TSX:APH)(OTC:APHQF)(FRA:10E) made a $25 million strategic investment in DFMMJ Investment Ltd., a special-purpose entity that is now called Liberty Health Sciences. In connection with the investment, Liberty Health Sciences entered into two more agreements, one to manage a Florida licensed medical marijuana dispensary (Chestnut Hill Tree Farm) and one to complete a reverse merger with CSE-listed, SecureCom Mobile Ltd. enabling Liberty to trade publicly.
Now Read: What is a Reverse Merger and Why Should I Care?
The reverse merger has been successfully completed and the CSE has approved the resulting company for listing. Shares of Liberty Health Sciences are set to begin trading on Wednesday, July 26th under the symbol "LHS".
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About the Management Agreement & Liberty's Strategy in Florida & Beyond:
In the management agreement that has been authorized by the Florida Department of Health, Liberty has the exclusive right to manage and operate Chestnut Hill Tree Farm's cultivation, processing and dispensing of medical marijuana in Florida in exchange for the "exclusive benefits of the finances from Chestnut's operation". After new regulations are introduced in Florida, Liberty anticipates that Chestnut will transfer their license to Liberty in accordance with the new regulations.
Beyond this agreement with Chestnut Hill in Florida, Liberty plans to invest in cannabis companies located in U.S. states with medical marijuana programs that meet the following four qualifications:
Established medical marijuana market
Limited number of cultivation licenses granted
No canopy restrictions
Large population of users (greater than 2% of pop. use medical cannabis)
In addition to their backing by Aphria, existing investment in Florida and relatively stringent investment qualifications, on July 24th, it was announced that former Mettrum CEO, George Scorsis was appointed director and CEO of Liberty. This gives the company an experienced cannabis executive at the helm as they navigate the U.S. market.
We'll be watching to see how the market receives shares of Liberty Health Sciences (CSE:LHS) when they start trading on Wednesday, July 25th and we will be sure to keep readers posted on the initial market reaction and any additional news from the company as it is released.
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