Liberty Health Sciences Receives Approval to Dispense Flower Products; Pending Approval for Pre-Rolls
TORONTO, March 25, 2019 /CNW/ - Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, announced today that it has received Florida Department of Health (DOH) approval to sell whole flower smokable products to patients in Florida, making it one of the first companies in the state to provide smokable medical marijuana in all of its dispensaries. The Company is awaiting DOH approval to provide pre-rolls to patients.
Patients who receive medical marijuana from their doctor will now be able to smoke the substance legally under a bill (SB 182) signed into law last week by Governor Ron DeSantis revoking a ban on smoking medical marijuana. More than 70 percent of voters approved a ballot measure in 2016 legalizing marijuana for medical use, but the Florida Legislature passed a bill a year later that banned it in smokable forms. The new law provides patients the ability to access medicine in the form their doctor determines best for them, whether it's smoking medical marijuana or utilizing other delivery systems.
This is truly a historic moment not only for Liberty Health Sciences but for the State of Florida
said Victor E. Mancebo, interim Chief Executive Officer of Liberty.
Receiving DOH approval – the same week that Governor DeSantis signed SB 182 allowing patients registered under the Department of Health to smoke medical marijuana – is monumental for Liberty and its ability to offer patients an additional medicinal option. Patients in Florida have been eager for this bill to pass as there is a fundamental need for this medicine in all of its forms
The new law aligns with Liberty's long-term strategy as the Company continues to expand across the state.
We are excited to provide flower-derived products to our patients as we continue to educate the Florida community on the benefits of medicinal cannabis and how the DOH has provided safety measures to properly dispense medicinal cannabis related products
According to a survey from MJ Freeway and New Frontier Data, flowers are still the most popular way to consume cannabis with minimal processing. States that allow flower in their medical marijuana program see an increase in patients, and as flower is made available, the patient count in Florida is expected to grow more quickly. By the year 2020, Statista, a leading provider of market and consumer data, reports that medical marijuana sales in the U.S. is expected to reach between 4.9 and 6.1 billion dollars.
Today, Liberty operates 12 dispensaries in the following cities across Florida: Dania Beach, Miami, Palm Harbor, St. Petersburg, Tampa (Hyde Park), Winter Haven, Merritt Island, North Miami, Port St. Lucie, Summerfield, Orange Park, and Gainesville. Patients can place an order online that will be ready for in-store pick-up or enjoy same-day free delivery.
About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. Liberty's measured approach to expansion opportunities is focused on maximizing returns to shareholders, while keeping consumers' well-being at the forefront of what we do. For more information, please visit: www.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 Company's production capabilities, expectations concerning the receipt of all necessary approvals from the Florida Department of Health, expectations concerning the opening of new dispensaries and the expansion of its greenhouse space, 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 favorable terms; the medical marijuana industry in the United Statesgenerally, 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.
SOURCE Liberty Health Sciences Inc.