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Nice and a good weekend to all!
I guess y'all gave up...nice flower sales again this week...2700+ ounces again...third week in a row...and in solid control of #5 in FL with THC mgs sold...7,996,410...where real margin is...
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/012921-OMMU-Update.pdf
Megan at AYR IR stated that the 5 open Nevada dispensaries are averaging $20 mil. usd each annually. 1 more was scheduled to open by the end of Dec. There is another Henderson License that is waiting for local. approval. That would make a total of 7...AYR has a Store in Henderson already, that reportedly knocks down the $35mil. a year but it’s part of the overall average it appears. Where the extra earnings come from is Massachusetts wholesale and AYR sells into the NV and MA markets their own Branded Products, where more than half of the competitors carry AYR Products...Arizona is online with 3 stores and 8 coming as they are now Recreational. There is 1 MA store open and 5 more coming...PA has 6 coming. NJ is now Recreational and i believe will have 6 total there. OH looks to be a wholesale Grow and Product situation so far. AYR will push their own Brands into other Co.s dispensaries everywhere possible...The latest Sandelman Interview has him admitting to an interest in California, if he can get a full Vertical. He looks to be setting up 4 regional Hubs to save money. Kim Rivers at Trulieve a couple of days ago said that’s also what she is doing.
All info is as accurate as best I can recall and hope it helps.
I find the numbers they are saying unbelievable currently. They talk $29 Mil per store for 5 stores and now $35 Mil. yet the last Q only had $45 Mil totally. Doing the math that means they only have 6 dispensaries consisting of the 5 that do $20Mil plus the one that does $35 Mil. Numbers do not add up for the amount of dispensaries and claims.
See the forest through the trees why don't you...haha! Laughable...
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/012221-OMMU-Update.pdf
You are leaving money on the table folks...no reason to sell here...
sorry dude, but this is the ayr pumper board ........ yeah I know , it sez liberty but trust me every body here feels they won the lottery with the 2 to 3 bagger acquisition ayr is so graciously bestowed upon the peasants.
I just wanna say, I love lhs! The product staff and stores are just the best. From atmosphere to the staff attitude and friendliness to the bomb ass weed im smoking right now! Mango sapphire is killer! How bout it boys? Told yall this would double from the half cent range! More stores opening up soon! Oh yeah! Love it! Bout to park bukooo cash here!
You're welcome! I'll be visiting their store in Henderson, which does $35 million annually, so I'm told.
Thank you for the NV info!
You're welcome! Their prices are way lower than the prices at other nearby dispensaries, so no wonder they're raking in large $$...Lots of loyal customers!
Nice...That’s them. I can see some of their Brands in the photos. They have their own labels selling in most of the other competitor Co’s stores across NV...According to an Analyst I saw, they have the highest sales per sqft. Don’t know which one, but one of them knocks out $35 mil usd a year ...Thanks for the link and photos.
Actually another decent week of Bud sales.
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/012221-OMMU-Update.pdf
Thanks! I found 2 of them near Las Vegas, and here's the link to the one that I plan to check out. I was surprised & pleased at how extremely careful they are, requiring not only a mask, but also a temperature check before allowing entry to their dispensary:
https://g.co/kgs/97ttzj
Nice post and you will not get any bashing from me. We both see each other’s points of view while hoping for a good outcome.
Wishing a nice weekend to you and all here!
PS good weekly numbers again from OMMU
I BELIEVE their called...”the dispensary” in small caps with mountains in the background. I saw where they intended to leave other acquisitions in other states with their original established names. Sandelman said being that they only buy the most promising dispensaries, he didn’t basically want to confuse customers with a name change. He will just let his team improve them to capacity.
Kudos tikotiko, great hit on a double! Trust when I say that I have experienced a ton of frustration with my resources tied up in Liberty for nearly 3 years!
However, the "do nothing" narrative is one that seems to have been espoused by folks other than longtime LHSIF shareholders. Unless you consider the dude (can't recall his name) that just had his article published on SA. He claims to be a shareholder, yet seemed to be unaware of the September 9, 2020 press release that completely debunks the ol' "Liberty does nothing" talking point. Here it is for your pleasure and reading entertainment:
https://libertyhealthsciences.investorroom.com/2020-09-09-Liberty-360-Facility-Expansion-and-Processing-Capacity-Update
That rarity of positive PR (because we do absolutely suck at PR) went largely unnoticed, but hardly screams that the company is/was short of long term vision. In fact, as an aside, there are plenty of Victor Mancebo bashers out there...but if the "mold" and/or grow rumors are true (which could happen to any cultivator), then word of the tissue culture labs, the partnership with SJG, a complete update of greenhouses with HVAC, indoor grow pods, 9 new dry rooms, and an improvement in extraction from Co2 to ethanol, should have been welcome news to all shareholders and our "limp stick" BOD. Let's not even talk about the fully constructed commercial kitchen that Mancebo oversaw. It was completed in August for God's sake...why has it not been approved by FLDOH yet???
Isn't it odd to anyone here that just after setting all of this into motion (and actually completing most of it), that Mancebo was "forced" into resigning? Anyone find it ironic that he was appointed to Vireo's BOD last week? Is it pure coincidence that this deal was announced just a few weeks before Liberty's flower numbers are better than ever for 2 straight weeks?
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/011521-OMMU-Update.pdf
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/012221-OMMU-Update.pdf
Ask yourselves if you can fathom an environment in which a highly regarded and "connected" financial guru such as Sandelman might have ties to the Serruyas? Dare it be possible that a little manipulation on the front end of this (in a highly unregulated OTC space) be lucratively rewarded on the back end? This kind of stuff never happens...it is almost always the little guy retail investor that wins, isn't it?
Alright, conspiracy theories aside, the truth is that LHSIF is worth between $2-4/share...if not now, it will be, barring some otherworldly events. Liberty can get to $4 by itself. AYR has to get to $125 to give you the same return, and let's face it, they cannot possibly get there without the cash cow that Liberty is!
While I do celebrate (and don't in the slightest manner begrudge) those of you that have only been here for 12-18 months and are going to realize nice 2X/3X returns, y'all are being exploited by a nearly perfect play. Everyone here (unless you're just here because a buddy told you to be) knows that we are/were worth $1-1.50 before AYR came along...that is precisely why you bought! Y'all are stepping over dollars to pick up nickels by voting yes.
Mark my words...in early 2022, AYR is going to announce an ER that shows just how much their Florida operations contribute to the bottom line. Even if that is creatively presented, just track the OMMU numbers.
And, as for that $15 million that AYR has allegedly earmarked for the 2021 "Liberty turnaround"...if anyone truly believes that Liberty is so screwed up, would it not take just a wee bit more than 15 mil to "rescue" this dismal operation and maximize efficiencies?
To all you AYR guys: don't bash me for my thoughts. I don't befront, nor begrudge you. I applaud your CEO for maximizing the value of your hard earned investment dollars and congratulate you on this inevitable acquisition, KUDOS! I just plainly desire fair compensation for what I have invested in as well. I will continue to wish in one hand and $$it in the other. I will take my hard-fought double and join you as a proud AYRWF shareholder on the flip side! GLTA!
What are the names attached to AYR's 5 Nevada stores? I live in Nevada and would like to check them out. TIA
My apologies DWP, I swore off verbosity Jan 1 (yet another NY resolution broken, lol), will try to give it up again for Lent!
Succinctly, I am not twisting what Sandelman said. Further, I am not a AYR hater. I applaud their success, and that of Sandelman, in many of his ventures. I am 99.9% positive that AYR has the votes necessary and that this deal is done. And while I love me some "hopium," I put that pipe down long ago.
AYR will undoubtedly, be a huge success. I will retain most of my position here in full faith that my initial investment will still grow. I want for you to succeed amigo, and am not a naysayer, nor basher of AYR...the deal is absolutely brilliant, and I have praised it even from my perspective. Sandelman knows, unequivocally, that Liberty is the cash fuel for his (our) fire! I just happen to have a differing viewpoint than you, related to what Liberty could be by 2022-2023, as a standalone entity.
What I am saying is that LHSIF, left alone (hypothetically, of course because we do know the yes votes exist), would be a quicker triple to 5X or 10X than AYR. I know they are not Trulieve, never claimed that. But there is plenty of space to expand, with plenty of revenue (see link below to Liberty's second consecutive 3000+ ounce flower week!), cheap financing and more favorable biz taxation coming with very near legislation.
https://s27415.pcdn.co/wp-content/uploads/ommu_updates/2021/012221-OMMU-Update.pdf
If (again, hypothetically) Liberty were left alone, the SP won't go back to $0.40...the assets are on everyone's radar now, so we are probably sliding back to the 0.50-0.60's. Echelon and Cannacord's targets give AYR a roughly 60-65% upside. Liberty at $2 is 100% from exchange price, and from, let's say $0.55, would be nearly a 4X. AYRWF needs to be at $115/share for the same return...you may need to buy a bottle of that hopium to realize that sort of lofty expectation!
FL statutes may change/evolve as well...there will undoubtedly be larger suitors, with much larger Winn Dixie bags of cash (that's for all you fellow Florida Crackers familiar with the old Everglades City days, lmao).
Let's just agree to disagree in friendly fashion on this one DWP, and celebrate differing viewpoints, as that is dialogue that leads to knowledge, discovery, and mutual success!
My thoughts exactly. Cresco could’ve offered but went with another company.
Hi Tiko, I know you’ve been here on the Liberty Board a really long time... I just finished listening to Today’s Newest Seeking Alpha Interview with Sandelman...WOW...He explains fairly much everything in regards to Liberty and the acquisition and future plans...It’s quite long. I would post it but I have no idea how to, with my I Phone...lol
I agree with you.
Personally, I prefer an approximately 200% profit instantly/guaranteed for my current position and not ia potential profit in years. My profits will be available in 1-2 months, which allows me to keep them in AYR or to invest in other stocks. I plan to do both. I like what AYR is doing and its diversified approach, where its sharp CEO mixes aggressiveness with caution and smart growth. In fact, I see AYR as providing a clean slate and a good long term investment. I also have more confidence in its “potential” than that of Liberty. While I too would like a higher offer price, the current offer reflects that Liberty is seen as a fixer upper that has underperformed in its only State (a lot is self-inflicted by poor management and communication). If a better offer comes along now, then great. However, I am not in favor of rejecting AYR’s offer in favor of the “ Do Nothing Alternative” with no changes in management and only the hope of a better offer in a few years. I respect that others may have the hope and patience for it, but not me.
I continue to lean YES pending developments.
ALAN BROCHSTEIN SEZ '' STOP THE STEAL'' !!!
I agree. I been here for yrs in the same boat.
Trulieve has 1.9 Mil sqft of Grow Space to Liberty’s 190,000. Trulieve is continuing to expand out into other States as we post. AYR is going to immediately pump in $15 mil usd needed to immediately expand and upgrade Liberty 360 to make LHS more Productive and competitive in FL.
You’re twisting what Sandelman said. He stated that he waited for 2 years before expanding, until a deeper bench in MJ was created. He further stated,
that he waited till his team created the Top metrics in the original Base States, so they could duplicate their success anywhere they went. Being 1 of 7 fully funded CO’s on the way to 12 or 13 is simply safer an smarter and spreads the many risks around. Just like Trulieve is doing.
Liberty had its value pumped out of it years ago leaving a High Share count and a low share price. To the point it’s struggling to compete in just FL alone.
You spent a lot of words to say that you don’t have any trust in AYR and you want to Keep Liberty as a OSO for the next 2-3 years hopes for a better deal. And really don’t care if our share price collapses back down.
Echelon’s Analyst just again, raised his stated conservative(by his own words) target price to C$58 and has a 100% success rate and has his Investors up around 250% so far on AYR. Needham’s Analyst says Green Thumb and AYR are his Top picks for 2021. Cannacord just raised their target price on AYR to C$60...Sandelman is playing 3 dimension chess with a very Low share count and very High share price, to its peers. While most other MJ CO’s are still playing on a flat board...
Your full of Hopium and a No vote...I’ve recovered and I am a firm Yes.
NOTE: Every Liberty Investor needs to do their own DD and not listen to mine or anyone else’s opinions. It’s in the AYR/LHS contract (everyone should read it) that other offers can be made and AYR has the opportunity to upgrade their offer. The market will decide what the correct offer price for Liberty is. Everyone with questions need to talk with AYR’ IR folks...GLTA
Exactly. I will vote NO for this current offer.
I can wait for something serious or for LHS to get back on track.
Diamond hands.
My friend...I have no doubt that AYR will be successful, so there is no argument from me there. I also have little to no doubt that this deal is happening. I will keep just over 50% of my nut with AYRWF in the short term, post deal (roughly 2000 AYRWF shares after conversion of my 100,000 LHSIF shares). However, I believe dilution and lack of execution (due to a scattered footprint) may prove costly and stunt SP growth compared to more established peers.
As talented and connected Mr. Sandelman is, and no matter how successful AYR has been in limited areas (including Nevada, with relatively no competition, covid or not), the lofty aspirations of AYR are commendable indeed...yet execution of these same aspirations have been stated by many firms, but rarely been achieved by much more experienced folks within this fledgling industry.
Sandelman has admitted in interviews that there is limited talent in the industry, yet he is repeating the same mistakes that many have done before him...overextend, broadly, across too many geographic regions to reasonably have control over. The talent pool did not suddenly expand...
Why is it that Trulieve has been a gem? Concentrated efforts...synergies created by singularly conquering obstacles/hurdles in quick fashion.
Do you really believe that the least experienced "MSO" team is going to expand and create wealth quicker than guys that have been at it for awhile??? Sandelman is connected for sure...he will run circles around others in terms of financing/backing/and institutional dollars. However, at the end of the day, the long term performance of this company will determine what all of that truly means. My bet, in having read his resume, says he will be in a really nice parachute by the time the real competition heats up...and he is truly late to the game in terms of real time revenue that has and is being generated now...versus what he is just beginning to ramp up...
Growth, execution, performance, and profitability will now be the determining factors that drive share price in this segment. There are few companies executing in multiple states effectively, and that will grow more difficult as more populated states (that typically want more control and tax dollars) legalize. The dynamic of targets will change and will do so exponentially for MSO's leading up to full Federal legalization...
Liberty, being a one state operator, looks to be at a "disadvantage" today in comparison to the big MSO's. Bigger at this point, is not necessarily better. If you expand to say 7 states, and 3 of those 7 don't pan out as "expected," there will be consequences. You will need to subsidize inefficiencies from areas of success. That often does not work out well.
Hellen Keller couldn't screw Liberty up at this point...if left alone, this is profitable, will be more profitable as time passes. Keep in mind that bigger fish are coming to this party soon as well...big Pharma, Big Beer (already established and ready to pounce), are all coming soon...why sell these undervalued assets (in today's dollars) now, when they will be worth so much more in 2 short years, if not sooner?
Damn. Good reading by you Boyz
Thank you and GLTA
In comparison between AYR and Liberty on Revenue. You might want to talk to AYR’s IR folks. AYR has 5 NV. stores currently doing an annual avg.of $20mil each under Covid Lockdown. 2 more in Henderson waiting on the lifting of a moratorium. That’s just Nevada and are the considered by Analysts to be the top producers in the State. In Massachusetts AYR has the largest Wholesale operation there and are selling there own Branded products in the majority of stores in NV and MA. They just added 1 open store with 2 more coming this Q. and 3 more after that which is the max allowed.They currently sell wholesale at $4100 a lb but will get $7400 a lb now through their own stores. In Ohio they have a grow and processing facility and are working on a store there and will soon begin selling into the market. In PA they have added 2 new large full operations and are expanding as we speak. They have acquired an operation in AZ and selling there. Then there’s NJ which will turn Recreational quickly and they are firmly entrenched. AYR is Hiring in Chicago IL. which means they are coming soon. Analysts have estimated before FL. NJ. or the last acquisitions in PA. AYR would do $725 mil usd in 2022...Liberty on its own at $105 mil. On 1/29 Liberty’s latest Q will likely show they are out of funds for expansion. AYR’s Sandelman wants 5 more states in the next few months and could get 4 of those by a merger with Vireo Health,along with strengthening AZ. where Victor went and also who AYR bought the Ohio Processing Facility from for $4.6 mil.( and failed to mention them in the PR) AYR is setting up to take on Green Thumb with 12 States each and AYR has a very small share count to get there. Sandelman wants in the Top 5 and has said so. I expect him to add CA. before he stops...Sorry to have slammed all this together but I’m late for a call. GLTA
I appreciate your professional response. All too often a negative comment leads to an elevated negative return response
Refreshing
GLTU mate
Hardly a newbie here, started buying in May of '18, and have been "smart/lucky" enough to have averaged down into the mid $0.50's.
I will agree that VM was the chief at the time of an unfortunate grow situation, but before you park the guy under a proverbial bus, take a few minutes to review his entire "performance" and that of Liberty during his entire tenure, including that as interim CEO. He was named interim CEO in Feb of 2019, then appointed permanent CEO on Jan 30, 2020.
He was appointed CEO because of his success in the interim capacity, highlighted by over quadrupling quarterly YOY and 9 month YOY consolidated net sales and doubling our cash and equivalents on hand. in the corresponding time frame, the SP went from roughly $0.90 to a low of $0.27 in September of 2019. We were consistently #2 or 3 in flower sales in FL. It's all right here dwp...have yourself a read.
https://www.newcannabisventures.com/liberty-health-names-victor-mancebo-ceo-after-strong-growth-in-fiscal-q3/
By the time he was appointed CEO in permanent capacity the SP had rebounded back into the $0.50's. Then covid hit. We can argue about fault assignment over the subsequent happenings and non happenings including grow issues, but don't forget that VM did negotiate the deal with SJG, set the cultivation capacity upgrade into motion (astutely reallocating resources from store opening to forward thinking, long term planning), all with a net reduction in debt.
You can call me a newbie all you like. That does not change the absolute fact that this SP has been manipulated for a very long time, overshadowing the positive achievements of VM. If you believe that the SP wallowing below $0.40 was purely attributable to Victor, then you sir, may want to review the facts. It is just far too easy to blame VM as the sole "culprit," for the lack of SP performance.
I am realistic enough to understand my vote is going to be in the minority, but I do believe that the reasoning behind the SP manipulation of this will come to light some day, and when it does, it will reveal that the small retail money, or 38-48% of us shareholders were just sheep in settling for this deal.
I attribute your comments to either complicity or pure naivety. I am guessing the latter, which is quite sad, considering your self-implied vast experience. Thanks for your two cents...and enjoy your little 3 bagger.
AYR says that they will invest $15 million into Liberty in 2021 to "enhance" operations. Ask yourself this: why would they "only" have to invest a measly 15 mil?
Do me a favor too, as I assume we will both be AYRWF shareholders soon. Let's collectively break down Florida's net contribution to AYR's 2021 bottom line...then perhaps we can be honest with each other about the true "value" of this deal.
Gotta love a Newbie’s prospective...Victor presided over a 25% loss due to mold, failure to start edibles and a continuing inability to stabilize the SP. AYR most certainly wanted him moved out and to bring in Darren Potter as part of the Deal.
A problem with your thesis is SPE and Friends want out and they reportedly have control of around 52% of LHS shares...It doesn’t take a rocket scientist to figure they have at least another 15 % or so to vote with them. I’m a Yes...Good Luck with your Quest however.
not the most optimistic group in the sector .......
I’m not seeing the logic. Liberty has shown it can’t go it alone. I was in the red for 2 years until AYR stepped in. I can’t see liberty capable of anything other than amateur hour operations.
I agree that AYR will most likely be a good hold for Liberty shareholders over the next year.
That said, I believe that if Liberty holders vote this deal down and go it alone, we have an easier and quicker path to a 3X-5X here.
With continued growth and 40+ dispensaries by EOY 2021 (assuming our grow is consistent and issues behind us, plus FLDOH edible kitchen approval), there is no world in which this isn't at $2.00-2.50 in 12 months.
Assuming the MORE and SAFE Banking Acts pass (which they will), cheap financing will be available to expand cultivation in ramp up to the eventual 2022 yes vote on Rec in FL and the subsequent Jan 2023 rollout of legal weed in one of the world's largest destinations...
With decent management, there is no way this isn't trading at around $3-5 in two years.
For us to triple as AYR holders, AYRWF will need to be at nearly $90 (perhaps higher as they continue to dilute in efforts to grow aggressively now).
Liberty, as a standalone, won't need to dilute at all. We are profitable and have already financed all the growth necessary through EOY 2021. Hell, if things were managed properly, we could actually buy back some stock (highly doubtful, but possible). Either way, we would have no need to accumulate any massive debt to expand sufficiently to be a true $1-1.25 Billion dollar cap company by 2023.
Also, don't forget that this round of M&A and consolidation, is really just the first round...this industry is still in infancy stage here in the US. By 2025, FL might be the crown jewel of the segment. With all the money out there...in terms of Big Pharma, Big Alcohol/Tobacco...this thing is true 10-20 bagger by 2025...
No brainer, vote no if you want to make real money here. Or, if you bought in at 0.28-0.35, enjoy the peanuts the market makers "allowed" you to have. I am assuming that most of you that bought in the 0.30's didn't really need this money tomorrow. If that is the case, what you really need to ask yourselves is: can Liberty, as a standalone entity, grow our $ quicker, or will AYRWF do that?
Nice find edzon! Victor Mancebo was a scapegoat at Liberty for all the wrong reasons...this man has great vision. He has been a success everywhere he has been, and will continue to be. I wish him nothing but success in any and all of his future endeavors.
Without his vision and execution of expansion strategy, we wouldn't be in play right now. He is gone due to manipulation period. Had he been allowed to run, we would have been selling in the low to mid $2's versus what now looks to be almost certainly a flat $1.
If you calculate the amount of dilution that would be required for LHS to enter all the markets and build the infrastructure that AYR has - moving into MSO status, becoming part of AYR does not sound like that bad of a deal. If you stay with them you are still working with the value that LHS built, but with the addition of the other states. Regardless, I will not ever get involved with any company where the Serruya clan has control.
This is a very positive development. No real need to fret about daily swings in PPS as the overall MJ future is VERY positive. I do wish AYR had a higher conversion on their offer but either way, anyone selling at this point is quite short sighted as AYR will trade much higher in the near future especially if they are looking at inroads into New York which is rumored.
As Liberty continues building its footprint in Florida
LHSIF stock could be one of the fastest-growing
cannabis stocks to buy under $1
Me too. Lots of product in the stores next week could be better. May consider a no vote especially if we can get some back to back good numbers.
Other Liberty Boards are posting that AYR is Hiring in Illinois...Guess it’s State #8...The Land rush is On.
A bird in hand, etc., so I vote yes to the AYR deal.
I am happy about the OMMU weekly results. I hope that they can be sustained week after week. This Board is split between those in favor of AYR offer and those against it,...... and that is not a bad thing.
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Liberty Health Sciences was launched to acquire and operate U.S. – based
companies in the medical cannabis market. Liberty is committed to delivering
high-quality, clean and safe pharmaceutical grade cannabis to patients while
optimizing returns to our shareholders.
Canada NewsWire
TORONTO, Dec. 7, 2018
Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high 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 recent 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 patient count and the expanding dispensary base, as well as the strength of its partnerships with best-in-class brands such as PAX and Mary's Medicinals.
Liberty's patient count increased by 46% during the quarter ended November 30, 2018 to approximately 14,500 patients. Supporting this growth is Liberty's accelerated pace in opening dispensaries, adding three additional dispensaries over the last quarter for a total of seven dispensaries and six delivery hubs opened to date. Liberty expects to open another seven dispensaries by the end of February 2019 to a total of 14 dispensaries across Florida, including locations in Miami, Boca Raton and Gainesville, subject to the receipt of all necessary approvals from the Florida Department of Health. Under the state regulations, the Company is entitled to open up to 30 dispensaries. Accordingly, Liberty will continue to seek suitable locations in response to the state's growing patient count.
"We are happy with the progress we are making as we continue to move forward on both dispensary openings and operational capacity," said George Scorsis, CEO of Liberty Health Sciences. "Liberty remains committed to growth and operational excellence across Florida and to potential expansion opportunities in other states."
In support of the ongoing opening of its dispensary locations, Liberty expects to finish construction in phases on the planned 225,000 square feet Liberty 360 facility including the state-of-the-art processing and production space in 2019. Liberty is currently operating 20,000 square feet of cultivation space at the Liberty 360 property as well as 24,000 square feet at the original Alachua property to support the growing demand for product. The next phase, expected to be completed in early 2019, will add 80,000 square feet of cultivation space. Liberty is fully funded to complete these capital expenditures.
"Our cultivation team is doing an excellent job and we continue to get amazing yields from our operations," said Lewis Swarts, VP Operations of Liberty Health Sciences. "The automation we have introduced into our processing operations is paying dividends as we are able to keep up with the increase in demand from our growing patient base."
In addition to the expanded cultivation and processing space, the facility will also include a state-of-the-art research and development lab. With the completion of the processing plant, Liberty's extraction capacity will increase by nine times its current level.
The completion of Liberty 360 will allow Liberty to significantly increase its production capacity, expand its product line and provide scientific and technical support for Liberty's operations in other states. Liberty currently employs just under 200 people across its operations and dispensaries. With the anticipated completion of Liberty 360, the Company expects to employ a diverse workforce of up to 500 people including patient liaisons, scientists, engineers and cultivation specialists.
In Ohio, Liberty, together with their joint venture partners, the Schottenstein Group, expects to open their dispensary in Dayton, Ohio at the end of March 2019. Its processing facility will open subsequent to that in the spring of 2019, each depending on the receipt of the required regulatory approvals. The joint venture has secured a 10,000 square foot processing facility, which will be used for extraction, refining, formulation and packaging.
"Liberty is committed to bringing the same high-quality offerings to Ohio as we have in Florida," said Scorsis. "With the knowledge base gained over our last year of operation, we believe we have the team and tools to continue to succeed."
Company website https://www.libertyhealthsciences.com
https://www.otcmarkets.com/stock/LHSIF/security
Market Cap 145,022,067 07/30/2019
https://www.facebook.com/LibertyHealthSciences/
https://twitter.com/LibertyHSInc
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