Connect with us

Health

Liberty Health Sciences Inc (OTCMKTS:LHSIF) Expands National Footprint with Controlling Interest in Massachusetts-based Cultivation and Dispensary Operation

Published

on

Liberty Health Sciences Inc (OTCMKTS:LHSIF) has announced that it will acquire 75% stake in William Noyes Webster Foundation, Inc (WNWF) which is based in Massachusetts. The deal is expected to cost the company $16 million and it will be completed subject to a binding term sheet.

WNWF has an integrated medical marijuana license which is exercisable in the Commonwealth of Massachusetts and owns a cultivation plant and a dispensary both of which are in the final stages of completion. It also owns a number of leases plus proposals from local government to put up two more dispensaries.

This take over will offer Liberty with a chance to tap into the raising medical cannabis marketplace in Massachusetts. That market currently has only 17 licensed operators against 47,424 patients plus a total population of around seven million people.  This population does not include the large population centers located in neighboring states which can easily be accessed by use of public transport.

The completion of this deal will be subject to receipt of all the needed approvals from the government of the State of Massachusetts, Massachusetts Cannabis Control Commission and Medical Use of Marijuana Program.

The foundation has a vertically integrated medical marijuana license, which was granted by the Massachusetts Department of Public Health. The license will allow Liberty to engage in cultivation, processing and distribution of medical cannabis all in one license.  Additionally, the transaction will offer Liberty with two more integrated medical cannabis licenses.  This will however be subject to approval of the applications by the Massachusetts Department of Public Health.

Holders of medical cannabis license like WNWF in Massachusetts will be prioritized compared to those who are not licensed holders, when it comes to acquiring   recreational cannabis licenses, a process that is slated for April 1, 2018. Holders of licenses are eligible to get three recreational licenses for every license for cultivation, processing and distribution of cannabis.

Liberty Director and CEO George Scorsis in a statement said the company has secured an important and strategic acquisition that will enable it apply some of the leading industry approach medical cannabis in the whole lifecycle from cultivation to marketing.

TRENDING STORIES

Business1 week ago

Hemp Inc (OTCMKTS:HEMP) Looks to Garner Support on Expansion and CBD Talk

Hemp Inc (OTCMKTS:HEMP) shares recently slipped under technical support in the $0.025. The stock has possibly found some bids in...

INDUSTRIAL HEMP2 weeks ago

How to View the Current Action in Hemp Inc (OTCMKTS:HEMP)

One stock that has started to key on potential support in a lateral range is Hemp Inc (OTCMKTS:HEMP). The stock...

INDUSTRIAL HEMP5 months ago

Near-Term Headwinds Hit Scotts Miracle-Gro Co (NYSE:SMG) With A Huge Impact

Bank of America Corp (NYSE:BAC) has disclosed that Scotts Miracle-Gro Co (NYSE:SMG) has lately been experiencing several near term risks....

INDUSTRIAL HEMP5 months ago

Argitek Holdings Inc (OTCMKTS:AGTK) To Focus On Acquisition, Revenues & Profitability In 2018

Argitek Holdings Inc (OTCMKTS:AGTK) recently revealed that in 2018, the company’s main focus will be the acquisition, revenues, and profitability....

INDUSTRIAL HEMP5 months ago

PharmaCyte Biotech Inc (OTCMKTS:PMCB) Completes Pore Size Studies & 29 Tests Useful In Pancreatic Cancer Therapy

PharmaCyte Biotech Inc (OTCMKTS:PMCB) has said that the cells it is planning to use in the clinical trial in patients...

INDUSTRIAL HEMP5 months ago

Puration Inc (OTCMKTS:PURA) To Apply For Canadian Recreational Cannabis Cultivation License; To Give EVERx CBD Sports Water Free Samples

Puration Inc (OTCMKTS:PURA) recently announced that it will be applying for the Canadian recreational cannabis cultivation license. The confirmation came...

INDUSTRIAL HEMP5 months ago

Marijuana Company Of America Inc (OTCMKTS:MCOA)’s JV Completes 10,000 Sq. Ft. Greenhouse Set up; Provides Update on Oregon Project

Marijuana Company Of America Inc (OTCMKTS:MCOA) recently announced that its Joint Venture with Bougainville Ventures Inc. based in Washington has...

INDUSTRIAL HEMP5 months ago

Lifestyle Delivery Systems Inc.(OTCMKTS:LDSYF)’s CSPA Group Inc. Receives 15000 Reveur Units & 300 Liters Distillates’ Purchase Orders In Two Different Deals

Lifestyle Delivery Systems Inc. (OTCMKTS:LDSYF) recently made two big announcements related to the receipt of two open purchase orders to...

INDUSTRIAL HEMP5 months ago

Viaderma Inc (OTCMKTS:VDRM) Provides Update On Its Flagship Product Vitastem; Signs $250,000 Agreement With Vage Nigeria Ltd.

Viaderma Inc (OTCMKTS:VDRM), a publicly traded specialty pharmaceutical company recently announced an update on the sales of its flagship product...

INDUSTRIAL HEMP5 months ago

Plandai Biotechnology Inc (OTCMKTS:PLPL) Phytofare Gaining Traction in International Markets

Plandai Biotechnology Inc (OTCMKTS:PLPL) recently issued an update following the successful launch of its Phytofare® supplement. Plandai Biotechnology is a...

Advertisement
Advertisement

Crop Infrastructure

 

Trading Symbol

OTC: CRXPF

CSE: CR0P

For The Next Big Wave In Marijuana Profits 

 

Big Profits From The Cannabis Land Rush