One of the most recent breakouts in the OTC cannabis patch is well depicted on the chart for Liberty Health Sciences Inc (OTCMKTS:LHSIF). Shares found key support at the confluence of the 50-day and 200-day moving average to kick off this week, and the breakout caught fire from there. Helping to fuel the fire, the company just announced that The British Standards Institution (BSI) has awarded a Good Manufacturing Practice (GMP) certificate to Liberty Health Sciences medical cannabis manufacturing facility, located at Liberty 360 Innovation Campus property in Gainesville, FL.
According to the release, “Certification for this facility indicates that it also meets all of the Florida Department of Health (DOH) requirements pertaining to the processing, extraction and production of medical cannabis.”
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 The British Standards Institution (BSI) has awarded a Good Manufacturing Practice (GMP) certificate to Liberty Health Sciences medical cannabis manufacturing facility, located at Liberty 360 Innovation Campus property in Gainesville, FL.
The chart shows 22% during the past week in terms of shareholder gains in the company. In addition, the stock has benefitted from a jump in recent trading volume to the tune of 21% over the long run average.
“Receiving GMP certification at an additional facility is a major milestone for Liberty Health Sciences and it demonstrates our commitment to producing the highest quality and safest products possible for our customers throughout the state of Florida,” said George Scorsis, CEO of Liberty Health Sciences.
“This achievement reflects the incredibly high standards we expect of ourselves and that our clients expect as a patient provider. We will continue to produce the highest quality products and exceed production standards that surpass even the most stringent regulatory requirements.”
Currently trading at a market capitalization of $293.64M, LHSIF has a significant war chest ($22.1M) of cash on the books, which stands against about $7.2M in total current liabilities. LHSIF is pulling in trailing 12-month revenues of $7M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2517.1%. We will update the story again soon as further details emerge. 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.