Vancouver, BC – June 22, 2017: Liberty Leaf Holdings Ltd. (CSE: LIB, OTCQB: LIBFF and FSE: HN3P) (the ‘Company‘ or ‘Liberty Leaf’) reports today that its 100% owned ACMPR applicant, North Road Ventures has received and promptly responded to a Health Canada ‘Request for Status Update’ letter, specifically relating to facility, site completion and readiness for licensing.
The purpose of the Health Canada request is to address each application appropriately and allocate resources to ensure that the licensing process moves as smoothly as possible for all involved in working towards licensing.
“This ‘Request for Status Update’ is another milestone in the expediting of North Road Ventures’ ACMPR application,” said Will Rascan, President & CEO of Liberty Leaf Holdings. “It’s one more indication that we are aggressively proceeding according to plan.”
In a press release issued by Health Canada on May 26, 2017, a number of improvements were outlined with regards to its Medical Cannabis Program, which are projected to favourably impact North Road’s growth plans. According to Health Canada, the application process will adhere to the following steps:
- Intake and initial screening;
- Detailed review and initiation of security clearance process;
- Issuance of License to Produce;
- Introductory Inspection (as cultivation begins);
- Pre-Sales Inspection;
- Issuance of License to Sell.
These new developments streamline the application process, allowing some steps to be conducted concurrently, thereby speeding up the approval process, by enabling licensed producers to manage their output according to their vault capacity. This facilitates more extended validity periods for licenses and security clearances. It also accelerates the review and approval process for modification or expansion of existing facilities, when licensed producers have demonstrated proper compliance.
These expedited procedures may provide the opportunity to receive a license to produce more quickly, while concurrently moving forward an application for a license to sell, bringing the product to market faster. The changes in process take into account the ongoing efforts the company has made in complying with the requirements to acquire a license to produce.
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, an 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 email@example.com.
Liberty Leaf Holdings Ltd.
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.