Liberty Health Sciences Reports Fiscal Year 2021 First Quarter Financial Results
*Note: All references to dollar values refer to Canadian dollars unless otherwise stated.
TORONTO, July 30, 2020 /PRNewswire/ – Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com (“Liberty” or the “Company”), a provider of high-quality cannabis, announced its financial results for the first quarter ended May 31, 2020. Consolidated net sales for the quarter ended May 31, 2020 were $18,440,756, compared with $5,520,561 for the quarter ended May 31, 2019.
For the quarter ended May 31, 2020, the Company reported Adjusted EBITDA of $4,583,269, compared with negative Adjusted EBITDA of $3,646,809 for the quarter ended May 31, 2019.
Liberty’s product offerings include 11 quality brands including Liberty Health Sciences™, Zentient™, Pretty Pistil™, Papa’s Herb™, Mary’s Medicinals™, G Pen™, PAX™, Lemon and Grass™, DomPen™, Clarity™, and Honey™.
As Liberty continues to accelerate expansion of new dispensary locations, the Company has increased its cultivation and processing capacity on its 387-acre state-of-the-art Liberty-360 facility, which is comprised of 300,000 square feet of greenhouse processing and production space.
The first quarter of fiscal year 2021 has continued to show steady results quarter over quarter as we remain committed to operating as a safe and essential service during this prolonged COVID-19 pandemic. I am proud of our team’s commitment to adapt to the challenges the virus has created as we continue to innovate and grow. They have allowed us to keep our doors open and serve our patients in every way possible.
Victor Mancebo, Chief Executive Officer of Liberty
We are also getting ready for several exciting announcements and partnerships and anticipate that our patients across Florida will share in our enthusiasm, which in turn will increase our market share.
Liberty currently operates 26 dispensaries across Florida in the following locations:
Operational Highlights:
- Liberty has opened 26 dispensaries to date throughout Florida.
- The Company has signed lease agreements for another ten new locations to open.
- Liberty launched DomPen™, one of California’s top vaporizer brands, best known for its affordable all-in-one vaporizers and Dom cartridges, which offer a range of popular strains.
- Liberty introduced Honey™, the first producer in the world to market distilled cannabis oil in vape cartridges. Today, Honey™ provides authentic, full-spectrum oil-in-vape cartridges, applicators, and caps.
- Liberty has amassed a product portfolio of more than 277 SKU’s.
About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to providing a high-quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. For more information, please visit: www.libertyhealthsciences.com.
