Toronto, ON – September 6, 2018 — PRESS RELEASE — Liberty Health Sciences Inc., a cannabis provider, has announced that it experienced a 95 percent increase in sales revenue in the three-month period ended Aug. 31, 2018 compared to the previous three-month period which ended May 31, 2018.
Liberty’s recent quarterly revenue totaled $2.2 million compared to $1.1 million for the previous quarter, a 95 percent increase. The growth in revenue reflects the wider recognition of the Liberty brands in terms of quality and consistency as well as the patient-centric approach that the company uses. The corresponding patient count increased to almost 10,000 patients at the end of August from 4,600 at the end of May, a 112 percent increase over this time period.
"We are proud of our operational successes and as we move into the next quarter and we will focus on continuing to lead the way in the legal cannabis space with our portfolio of high-quality cannabis products, all while increasing shareholder value," said George Scorsis, CEO of Liberty Health Sciences. “Liberty will remain committed to diversifying and adapting to the ever-changing cannabis market, and we are looking forward to expanding our operations across the state of Florida and beyond."
Further adding to the revenue growth is the expanding footprint in the state. The company operates four dispensaries currently as well as six delivery hubs. Liberty has also signed seven new leases for dispensaries that are at various stages of permitting and construction. These new locations are expected to be opened by the end of February 2019, subject to the receipt of necessary approvals from the Florida Department of Health. The recently announced expansion of its one-day delivery services and the 24-hour or less turnaround throughout the entire state of Florida has also had a favorable impact on patient and revenue growth.
“Liberty is well positioned to continue investing in infrastructure, along with R&D and future genetic study programs,” said Scorsis. “Our team of people include some of the best in the industry and the company will continue to drive further cutting-edge initiatives.”
Liberty is well positioned to ensure a steady supply of quality consistent product to meet the growing demand and expanding footprint. Production has already commenced at the partially retro-fitted Liberty 360 facility with the full retro-fit scheduled to be completed in early 2019, in line with the new dispensaries coming on stream.
