KELOWNA, BC, May 13, 2019 /PRNewswire/ – Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (“Liht” or the “Company”), a licensed cannabis cultivator and producer, is pleased to announce that it has commenced its first commercial sales of recreational cannabis in the state of Nevada. The Company has identified wholesale partnerships with two (2) retailers, totalling five (5) dispensary locations in the Reno & Laughlin region of Nevada, from which the retailers will purchase Liht’s entire supply of premium, triple certified organic flower – presently produced at a rate of 110 lbs per month from Liht’s 10,000 ft2 North Las Vegas facility. The partnerships will also leverage the marketing and advertising experience of ACC Industries Group, LLC, which has been instrumental in consummating the arrangement between the two parties.
Rahim Mohamed, CEO of Liht, commented, “This is a tremendous achievement for Liht and we look forward to continue supplying the Nevada market with our premium flower in advance of Liht’s concentrate product roll-out, expected to begin July 2019. Securing shelf space for our organic products reaffirms Liht’s commitment to redefine ‘premium cannabis’ within the North American market.”
The Company is further pleased to announce that its California retail location, “Green Leaf Wellness“, has received an award from Palm Springs Life Magazine for “Best of the Best: 2019” in the dispensary category for the Desert Hot Springs area. The retailer is located in the Coachella Valley, which is home to the famous Coachella Music Festival that attracts an estimated 4.5 million tourists each year. Dubbed “California’s Prestige Magazine”, Palm Springs Life and its readers have collectively praised Green Leaf Wellness for its wide array of products and educational programming for both new customers and seasoned connoisseurs.
Additionally, the Company is announcing the closing of the first tranche of a non-brokered private placement (the “Offering“) of secured Convertible Debentures (the “Debentures“) for gross proceeds of C$250,000. The Debentures mature on May 8, 2021 (the “Maturity Date“) and