Liberty contributing 10 per cent of revenues to Red Cross; Expansion plans still on track
TORONTO, Sept. 11, 2017 /CNW/ - Liberty Health Sciences Inc. (CSE:LHS) (OTCBB:SCQBD) ("Liberty" or the "Company") announced today that there is no structural damage to its facility in Alachua, Florida as a result of Hurricane Irma. In addition, no part of Liberty's production process was affected, nor were any plants or inventories damaged because of the storm. All business operations have resumed with the exception of deliveries to our patients, which will recommence as soon as it is safe to do so.
"Our hearts go out to all those affected by the devastation caused by Hurricane Irma and we are commited to providing support to ensure that local residents, including our employees, stay safe," said George Scorsis, CEO and Director of Liberty. "Also, Liberty is proud to be a positive force in the community and to help with the relief efforts across the State of Florida, we are committing to contributing 10 per cent of revenues for two months to support the incredible relief efforts being undertaken by the Red Cross."
A tropical storm warning remains in effect for Alachua, Florida for the next 24 hours and Liberty will provide further updates as events warrant.
Despite the storm, Liberty's previously announced Part II expansion plans for the Alachua facility remain on track. This expansion will increase Liberty's annual medical cannabis production to 2,800kgs by January 2018.
For more information on Liberty please visit www.libertyhealthsciences.com
About Liberty Health Sciences Inc.
Liberty Health Sciences Inc. ("Liberty") 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.
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 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.
SOURCE Liberty Health Sciences Inc.
