TORONTO, April 11, 2018 /CNW/ - Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF) ("Liberty" or the "Company") today announced that the Company has recorded a 253% increase in monthly revenue since the start of 2018, and a 100% increase in its served patient count. The surge has been fueled by unprecedented growth in the number of registered medical cannabis patients and physicians in the state of Florida. So far this year, the number of registered patients in Florida has increased 46% to over 93,000 patients, and the number of recommending physicians has increased 44% as the physician community continues to witness the benefits of medical cannabis first-hand.
The registered patient count in Florida is expected to continue to increase rapidly as more physicians recommend cannabis as a treatment option, and as more Florida residents become educated on the benefits of medical cannabis to treat certain qualifying conditions. The Florida Department of Health ("DOH") continues to make progress in processing the high volume of applications and issuing Medical Marijuana Use Registry identification cards, which is also helping to accelerate demand for Liberty's products throughout the state.
"Our patient-centric approach has been very well received in Florida," said George Scorsis, Director and CEO of Liberty. "Our Cannabis Education Centers, which we are continuing to roll-out across the state, provides comprehensive education, resources and compassionate one-on-one consultations geared towards educating patients on cannabis use as a safe treatment alternative to treat their symptoms. Liberty is proud to provide Florida's patients in need with convenient and timely access to high-quality, clean and safe pharmaceutical-grade medical cannabis when they need it the most."
In response to the rapidly growing patient demand, Liberty is expanding its home delivery model to bring 24-hour delivery service to patients across southern Florida. The Company has received approval from the DOH to establish a distribution center ("Hub") located in Fort Lauderdale. Supported by a fleet of eco-friendly hybrid vehicles, The Hub will provide one-day delivery service to patients in Broward, Miami-Dade and Palm Beach counties, an area with nearly 6 million people representing 29% of the state's population. Liberty is also expanding its fleet to provide one-day delivery service to patients in Alachua and Marion counties. This fast and convenient service will also be offered through Liberty's Cannabis Education Centre in The Villages and at the Company's future dispensary locations expected to open soon. In total the Company's one-day delivery service will reach 6.6 million people, or 32% of Florida's population.
"The growth in registered medical cannabis patients in Florida is far exceeding our expectations, but Liberty is fully prepared to meet the rapidly expanding demand with our production expansion currently underway at Chestnut Hill and Liberty 360 facilities and our new southern Florida distribution hub," said Scorsis. "We are committed to providing all of our patients across Florida with fast and convenient access to medical cannabis, regardless of their location in the state."
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 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.