Is Liberty Health Sciences Inc (OTCMKTS:LHSIF) Ready to Move to Another Level?

Is Liberty Health Sciences Inc (OTCMKTS:LHSIF) Ready to Move to Another Level?


The rebound in Liberty Health Sciences Inc (OTCMKTS:LHSIF) has been impressive and fueled by some changes at the top of the company’s organizational structure as well as broad market and sector-specific strength since the turning of the calendar. As a case in point, the company just announced that Vic Neufeld and John Cervini will be stepping down from the Board of Directors, effective January 31, 2019. This type of shift can have dramatic consequences for how market participants perceive the credibility and legitimacy of the company.

According to the release, “the Board is continuing its search for two qualified and independent board members. Liberty has also retained Miller Thomson LLP as its Canadian legal counsel. Miller Thomson will provide advice on, among other things, Canadian corporate governance practices and securities law compliance matters.”

Liberty Health Sciences Inc (OTCMKTS:LHSIF) frames itself as a company that engages in the production and distribution of medical cannabis primarily in the State of Florida.

It has a strategic partnership with Veterans Cannabis Project to support various research projects focused on the treatment of service-related trauma with cannabis-derived products, and partnership with AdaViv Inc. to enhance production of cannabis.

The company is headquartered in Toronto, Canada.

Liberty Health Sciences was established to own and operate medical marijuana licenses in the United States. To date, the company owns one of 14 licenses issued in the state of Florida as well as 50.1% interest in a provisional processing license and a provisional dispensary license, both in Ohio. Liberty has also made an investment in a provisional medical license in the Commonwealth of Massachusetts.

According to company materials, “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.”

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As noted above, LHSIF just announced that Vic Neufeld and John Cervini will be stepping down from the Board of Directors, effective January 31, 2019. In all, traders will note flat action for shareholders of the company during the trailing week. What’s more, the listing has benefitted from a jump in recent trading volume to the tune of 12% over the long run average.

“This announcement dovetails with Liberty’s commitment to strengthening its corporate governance practices,” said George Scorsis, CEO of Liberty Health Sciences.

“We are focused on enhancing the independence of our Board of Directors and have initiated a search to identify candidates with the appropriate backgrounds to support the next stage of our Company’s growth. We would like to thank both Vic and John for providing their invaluable knowledge when we commenced this journey and for continuing to add value throughout Liberty’s most important years. We wish them the best.”

Now commanding a market cap of $260.45M, LHSIF has a significant war chest ($26.1M) of cash on the books, which must be weighed relative to about $4M in total current liabilities. LHSIF is pulling in trailing 12-month revenues of $3.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 4619.5%. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $LHSIF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $LHSIF, either long or short, and we have not been compensated for this article.

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