Vancouver, BC – July 20, 2017: North Road Ventures, a wholly-owned subsidiary of Liberty Leaf Holdings Ltd. (CSE: LIB, OTCQB: LIBFF and FSE: HN3P) (the “Company” or “Liberty Leaf”), has included in its application abridgment to Health Canada to dramatically increase the storage capacity of its vault.
In North Road’s application to have its vault capacity upgraded, the company will request approval for a Level 8 vault capacity, which would house $6.25 million in bulk cannabis product. The modular vault specified by North Road can be easily and inexpensively upgraded to a Level 9 version, enabling North Road to achieve inventory capacity of up to $31.25 million of cannabis products.
North Road Ventures’ intention is to establish itself as an independent third-party distributor of cultivated and manufactured cannabis products to licenced, legal retailers. Initially targeting the British Columbia market place, North Road envisions expanding nationally, and internationally as the evolution of the global legal cannabis industry continues at a rapid transformational pace.
Acquired by Liberty Leaf on October 19, 2016, North Road Ventures, an Access to Cannabis for Medical Purposes Regulations (ACMPR) applicant, focuses on distributing high-quality medical cannabis. The company is expanding into the recreational market to coincide with the anticipated legalization in 2018.
“It’s important to note that the revenues under these conditions are determined by the number of inventory ‘turns’ that occur in the vault” According to Liberty Leaf President & CEO, Will Rascan. “If one assumes the reasonable scenario that the vault is replenished once a quarter, the resulting revenue generated from a Level 9 vault is significant.”
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 www.libleaf.com or email firstname.lastname@example.org.
On Behalf of the Board
Will Rascan, President & CEO
Liberty Leaf Holdings Ltd.
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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.