Liberty Health Sciences (CSE: LHS) announced yesterday that the company was opening three new dispensaries (also called Cannabis Education Centers) across Florida. These facilities offer free 24-hour delivery across the state, with two additional planned retail locations, Merritt Island and Palm Harbor, as still awaiting DOH approval.
The company, which is known primarily as a seller of cannabis, also provides marijuana educational tools and one-on-one consultations for customers seeking medical cannabis use. Liberty Health is also touted by analysts for securing a number of high quality brands, most notable being Aphria Inc (TSE: APH).
“With these new locations, we are excited to be able to make our premium cannabis products even more accessible to more customers throughout the state of Florida,” said CEO George Scorsis. “We are laser-focused on creating the best operation for future growth and our strategy of being the best provider in one of the largest states in the U.S.”
Scorsis, who previously served as president of Red Bull Canada, previously stated in an interview that Florida’s medical cannabis market had tremendous potential to explode over the coming years, even potentially surpassing Canada. At the moment, analysts expect the Florida market for cannabis to grow to USD 13.3 billion by 2020, a trend that Liberty hopes to capitalize on, having built additional facilities in the past including 250,000 square feet of greenhouse space.
“We have a consistent goal to be the best provider of cannabis in the U.S. through our relentless pursuit of providing the best customer experience and we are there to help guide them on their cannabis journey,” he added.
Among other developments, the proposed U.S. Hemp Farming Act of 2018 – which aims to remove hemp from being classified as a Schedule 1 controlled substance – is seen as a big potential boon to U.S. cannabis firms. The legalization of hemp, and its derivatives such as cannabidiol (CBD), would let companies grow and sell products much closer to home.
While most cannabis stocks have been floundering over the past few days, Liberty Health Sciences included, the news announcement helped spur a bit of a bullish upturn today before closing at $1.20.
Earlier in the month, brokerage firm Canaccord Genuity set a $2.00 price forecast on Liberty Health Sciences stock, citing their positive outlook on the company’s strong presence in the Florida market, as well as a solid track record of securing partnerships and brand licenses (such as Aphria). The company also estimates that Liberty Health’s revenues will reach CA $20 million by the end of 2019, with the full report available on the company’s website.
Despite the recent downtrend in cannabis stocks over the past week, analysts remain optimistic about Liberty Health Sciences stock price in the coming months, being well poised to surge ahead in the future once this bearish-storm punishing the market clears.
Liberty Health Sciences Company Profile
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 and beyond. Liberty’s measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers’ well-being at the forefront of what we do. – Newswire
