Liberty Health Sciences (CSE:LHS; OTCQX:LHSIF) announced a new purchase agreement to acquire all issued and outstanding shares of 242 Cannabis, which comes with a 387-acre parcel of land in Gainesville, Florida.
As quoted in the press release:
The Property includes over 200,000 square feet of state-of-art greenhouses, head houses, tissue culture lab and processing facilities. Libertyplans to retrofit the facilities over the coming months to include a 16,000-square-foot processing area that will be used for extraction and refining of cannabis oils. It will be equipped to produce vaporizer products including preloaded disposable pens, cartridges and pods. Liberty will continue to offer other dosage forms such as capsules, oral solutions (tinctures) and topicals. In addition, the processing area will also have a commercial kitchen for the production of edibles and chewable dosage forms, once the state has defined and promulgated the necessary regulations to govern edible and chewable dosage forms.
The retrofitted facilities will enable the Company to expand production capacity a year sooner than projected, in order to meet the growing patient demand in Florida.