Liberty Health Sciences Reports $3.2 Million Florida Medical Cannabis Revenue in Q3

Liberty Health Sciences Reports $3.2 Million Florida Medical Cannabis Revenue in Q3

Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF), a supplier of top quality cannabis, announced today that they experienced a significant increase in sales revenue in the quarter ended November 30, 2018 compared to the same period in the prior year. For the quarter ended November 30, 2018, revenue increased by 45% compared to the quarter ended August 31, 2018.

Liberty’s current quarterly revenue totalled $3.2 million and its fiscal year-to-date revenue totaled $6.5 million. This continued growth in revenue reflects the Company’s improvement on returning individual count and the dispensary foundation that is expanding, as well as the strength of its partnerships with best-in-class brands such as PAX and Mary’s Medicinals.

Liberty count increased by 46% during the quarter ended to approximately 14,500 patients. Supporting this growth is Liberty’s accelerated pace in opening dispensaries, including three dispensaries.  Libertyexpects to open another seven dispensaries at the end of February 2019 to a total of 14 dispensaries across Florida, including locations in Miami, Boca Raton and Gainesville, subject to all necessary approvals from the Florida Department of Health’s receipt. Under the regulations, the Company is entitled to open up to 30 dispensaries. Accordingly, Liberty will continue to seek locations in response to the growing patient count of the state.

“We are delighted with the progress we are making as we continue to move forward on both dispensary openings and operational capacity,” stated George Scorsis, CEO of Liberty Health Sciences. “Liberty remains committed to growth and operational excellence across Florida and to possible expansion opportunities in other nations.”

In support of the ongoing opening of its dispensary locations, Liberty expects to finish building in phases on the feet that are projected Liberty 360 facility including the state-of-the-art processing and production space in 2019.  Feet of farming distance are currently working in the Liberty 360 property as well as 24,000 square feet in the Alachua property that is original to support the expanding demand for product. The next phase, expected to be finished in early 2019, will include 80,000 square feet of farming distance.  Liberty is fully funded to complete these capital expenditures.

“Our cultivation team is doing an exceptional job and we continue to get amazing returns from our operations,” stated Lewis Swarts, VP Operations of Liberty Health Sciences. “The automation we have introduced into our processing operations is paying dividends as we have the ability to keep up with the rise in demand from our growing patient base.”

In addition to the expanded cultivation and space, the facility will also have a state-of-the-art research and development laboratory. By nine times its current level, the extraction capacity of Liberty increases with the completion of the processing plant.

Liberty 360’s completion enables Liberty to increase its production capacity, expand its product line and supply support for Liberty’s operations.  Liberty currently employs just under 200 people across dispensaries and its operations. With the completion of Liberty 360, the Company hopes to employ a diverse workforce of around 500 people including patient liaisons, scientists, engineers and cultivation specialists.

In Ohio, the Schottenstein Group, Liberty, together with their joint venture partners, expects to open their dispensary at the end of March 2019 in Dayton, Ohio. Its processing centre will open subsequent to that in the spring of 2019, each depending upon the receipt of the approvals that are required. The joint venture has secured a foot processing facility, which will be used for formulation, refining, extraction and packaging.

“With the knowledge base gained over our past year of operation, we believe we have the tools and team to continue to be successful.”

Liberty is the cannabis supplier committed to providing a trusted, high quality cannabis experience based on a focus on operational excellence and our care for all cannabis users from seed to sale and beyond.  Liberty’smeasured approach to expansion opportunities maximizes returns to shareholders, while keeping customers’ well-being in the forefront of what we do. To find out more, please visit:


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