Tickers: XCNQ:LIB, PINX:LIBFF
Tags: Medicinal Marijuana
Vancouver, BC / TheNewswire / July 13, 2017 - Liberty Leaf Holdings Ltd. ((CSE: LIB, OTCQB:LIBFF, '>FSE: HN3P)) (the 'Company' or 'Liberty Leaf') announced today that North Road Ventures, acquired by Liberty Leaf on October 19, 2016, is adding cannabis oil to its proposed product line.
North Road Ventures (an Access to Cannabis for Medical Purposes Regulations (ACMPR) applicant) focuses on distributing high-quality medicinal cannabis. The company is expanding into the recreational market to coincide with the anticipated legalization in 2018.
As disclosed July 6, 2017, Liberty Leaf has contracted Cannabis Compliance Inc. to submit an abridgment to its current application with Health Canada. The abridgment will increase the authorized distribution capacity of the company as well as add new products to its application.
In its latest ACMPR Market Data update (December 2016), Health Canada data shows that sales of cannabis oil increased 156% over the previous quarter. Sales reports from Colorado show that cannabis oil and associated products produce more than 50% of cannabis revenues. This trend is due to the fact that many patients and users want the benefits of cannabis but do not want to smoke the product. Cannabis oil can be consumed inconspicuously by taking orally or vaping.
An Opportunity for Remarkable Rewards
During the period that Health Canada has collected and released data regarding the sale of cannabis oil, the number of kilograms sold has been growing at a much faster rate, compared to that of dried marijuana sold over that time.
"The addition of cannabis oil is a strategic decision," said Will Rascan, President and CEO of Liberty Leaf. "North Road waited for the optimum time to proceed with an abridgement to its Health Canada application, to ensure that its sense for the cannabis oil market was validated. The opportunity for remarkable returns in getting into the cannabis oil market at this time is exceptional."
The company plans to include at least three different proprietary cannabis oil formulations with differing proportions of tetrahydrocannabinol (THC) to cannabidiols (CBDs) in each one. Consumers have different needs, some desiring a high THC content and others only requiring CBDs. The company's product stock-keeping units (SKUs) will vary with consumer preferences and demands, although it is currently expected that cannabis oil with both THC and CBDs will be the market leader.
Cannabis delivery mechanisms are continually changing, and the company will adapt its packaging and concentration levels to match consumer preferences in this expanded product line.
According to Rascan: "The rewards of such a course of action are likely to be substantial. While the potential for applications in the medical market is obvious, the growth curve in the recreational sector will result in an exponential increase in consumption."
Liberty Leaf Holdings Ltd. is a new Canadian-based, public company whose focus is to build and support a diversified portfolio of cannabis sector businesses, including cultivation, value added CBD/THC products, biotech research, and supply chain products within this dynamic and fast growing sector.
Liberty Leaf also owns 100% of North Road Ventures, a late-stage applicant under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). For further info on the Company please visit http://www.libleaf.com or email will@libleaf.com
On Behalf of the Board
Will Rascan, President & CEO
Liberty Leaf Holdings Ltd.
Phone: 604-683-3995
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward looking statements. The company disclaims any intention or obligation to revise or update such statements.
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