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Liberty Health Closes Acquisition of New Campus in Gainsville, Florida

February 16, 2018

 

Liberty also receives approval from Department of Health to expand existing facilities and secures new dispensary location in South Tampa for a total of 6 confirmed Florida locations to-date

 

TORONTO, Feb. 16, 2018 /PRNewswire/ - Liberty Health Sciences Inc. (CSE:LHS) and (OTC:LHSIF) ("Liberty" or the "Company") announced today that it has closed the acquisition of a 387-acre parcel of land in Gainesville, Florida, previously owned by Alico Citrus Nursery, LLC. The property will become the home of the new Liberty 360° Innovation Campus ("Liberty 360"), with state-of-the-art greenhouses and processing facilities that firmly establishes Liberty as one of the leading medical cannabis providers in Florida.

 

"We're thrilled to establish the Liberty 360 campus as our innovation hub for the cultivation, production and processing of high-quality, pharmaceutical-grade medical cannabis for the rapidly expanding patient demand in Florida," said George Scorsis, Director and CEO of Liberty. "Liberty360 will enable us to expand our production capabilities and provide a broader range of products and delivery methods to Florida's patients in need. It will also serve as our center for new product innovation and development as we remain on the leading edge of the medical cannabis industry."

 

Liberty 360's existing facilities, which includes over 200,000 square feet of state-of-the-art greenhouses and processing facilities will undergo a retrofit over the coming months, which will include a commercial kitchen for the production of edibles and a new 16,000-square-foot processing area for the extraction and refining of cannabis oils. It will be equipped to produce vaporizer products including preloaded disposable pens, cartridges and pods. Liberty will continue to offer other dosage forms such as capsules, oral solutions (tinctures) and topicals. Liberty's ability to cultivate, process and/or produce cannabis products at this new facility will be subject to the receipt of all required approvals and/or authorizations from the Florida Department of Health, Office of Medical Marijuana Use ("DOH").

 

DOH approves expansion of existing facilities

 

Liberty also announced the DOH has approved the Company's recently completed expansion of its existing facility in Gainesville, Florida. The three new greenhouses, which add 11,000 square feet of production space, will be placed into immediate production, doubling the Company's production capabilities to 1,600 kg per year. Liberty also received approval to reconfigure its facility to accommodate the production of trans-dermal and other cannabis-infused products approved by the Department of Health.

 

Liberty's Cannabis Education Centers continue to grow

 

Liberty's Cannabis Education Centers ("CEC") are the Company's patient-centric dispensaries designed to provide comprehensive education and resources for patients to learn about cannabis use as a safe alternative to treat symptoms related to several medical ailments. The first CEC opened in The Villages in January 2018 and after just two weeks of operation it increased the Company's total registered patients by nearly 25%.

 

Today the Company announced it has secured a new CEC location in South Tampa, currently scheduled to open in the spring of 2018. This brings the total number of planned CEC locations in Florida to six, including in St. Petersburg, Port St. Lucie, Fort Lauderdale and Fort Myers.

 

"Liberty is committed to ensuring patients have convenient and timely access to its high-quality, clean and safe pharmaceutical-grade medical cannabis when they need it most," said Scorsis. "Our Cannabis Education Centers will also provide exceptional patient care through its comprehensive educational platform which includes tools, resources and compassionate one-on-one consultations geared towards educating patients on cannabis use as a safe alternative to treat their symptoms."

 

The dispensary operations and plans are being finalized and will be submitted to the Florida Department of Health, Office of Medical Marijuana Use, for approval in accordance with state law.

 

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 www.libertyhealthsciences.com

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under 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 Company's future expansion and growth strategies, the Company's intentions to open dispensary locations in various regions in Florida, the Company's ability to cultivate, process and/or produce cannabis products at this Liberty 360, the receipt of all required approvals and/or authorizations from the Florida DOH and the Company's expectations in respect of the future growth of medical cannabis as a treatment option in Florida. 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.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.