LIBERTY HEALTH SCI (OTCMKTS:LHSIF) Aims To Be A Player In The Florida Medical Marijuana Space

LIBERTY HEALTH SCI (OTCMKTS:LHSIF) is showing signs of life again, after its massive fall in value from $3.2 to $0.32 last year.Between August and September the firm announced strategic partnerships with players in the medical industry and raised over $10 million of financing.In this piece, we give you information on LHSIF and how its management intends to use the newly raised capital.Take a look at its price movement below: LHSIF Daily ChartBrief OverviewLiberty Health Sciences Inc. is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. states where medical cannabis is legal. Liberty's stringent investment criteria for expansion maximizes returns to shareholders, while focusing on significant near and mid-term. Liberty has an extensive background in highly regulated industries, with expertise in becoming a low-cost producer. Liberty leverages commercial greenhouse knowledge to deliver high-quality, clean and safe pharmaceutical grade cannabis to patients. Liberty is focused on becoming the leading cultivation and distribution network, through low cost production and high end dispensaries.Recent DevelopmentsThe company recently announced the closing of its private placement offering of convertible secured debentures with proceeds of USD $12 million. From the offering, the company's wholly-owned subsidiary Liberty Health Sciences Florida Ltd sold $12.0 million aggregate principal amount of notes at a face value of $1000 per note. The notes bear interest of 12 per cent, payable semi-annually, and mature in November 2020.George Scorsis, CEO and Director of Liberty explained that the financing deal would fund the aggressive expansion plan that its management have in place that will see Liberty become one of the largest licensed producers in the State of Florida. It is expected that as more and more physicians and patients see the tremendous value in cannabis as a viable treatment option, Liberty would continue to see immense growth in demand for high quality, clean and safe medical cannabis throughout the state which would expand its operation to serve even more patients.The notes were secured by the assets of Liberty Health Sciences Florida Ltd. including a first priority general security agreement covering all present and future assets of the Florida business and a mortgage over all material real property of Liberty Health Sciences Florida Ltd.Each $1,000 face value of the notes is convertible at maturity into that number of common shares of Liberty which represents a conversion price of CAD $2.00 per common share unit. The company retained the right to redeem the notes at a premium to principal in whole or in part at any time prior to maturity, and the Company has a right to force conversion of the notes into common shares of Liberty at par plus accrued and unpaid interest if the common shares trade at or above CAD$3.00 for ten consecutive trading days, on a volume weighted average basis.In October, Liberty entered into a partnership with Colorado-based MM Technology Holdings, LLC to bring its award-winning line of Mary's Medicinals cannabis products to the Florida market. Under the three-year agreement, Liberty will produce and distribute a suite of effective and reliable products from Mary’s under license in the State of Florida to further optimize patient care. The agreement is subject to approval by the Florida Department of Health, Office of Medical Marijuana Use as is required under Florida law.Liberty’s CEO outlined that the firm’s goal was to provide the best available medical cannabis products to its patients and Mary’s has a proven track record of success in the space .This partnership is expected to further assure patients that they have access to the most effective medicine on the market.Liberty is committed to delivering high-quality, clean and safe pharmaceutical grade cannabis and this agreement with Mary’s elevates the number of cutting-edge products available to its patients. Best known as the developer and exclusive distributor of the award-winning Transdermal Cannabis Patch, Mary innovates at the intersection of technology and horticulture and is transforming how people view and utilize cannabis, developing products that maximize the benefits of cannabinoids, terpenes and other plant nutrientsFinancial PerformanceLiberty’s financial reports reveal that operating losses have changed positively in the past three years, dropping from $1.8 million in 2015 to a more manageable $0.8 million in 2017.The balance sheet shows enough liquidity to keep firm operations running smoothly in the near future with very high current ratio of 5.5.ConclusionLiberty Health Sciences Inc has positioned itself to be a player in a market still growing. It is only likely that it will keep growing in value.We will be updating our subscribers as soon as we know more. For the latest updates on LHISF, sign up below!Image courtesy of Thomas Hawk via FlickrDisclosure: We have no position in LHSIF and have not been compensated for this article.