KELOWNA, BC, Feb. 12, 2019 /PRNewswire/ – Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (or the “Company”) is pleased to report to its shareholders the preliminary results of its first harvest in Las Vegas, Nevada.
On February 6th, 2019, the Company began to harvest the first of its six cultivation rooms, commencing a perpetual weekly harvest cycle, which will continue to March 6th, 2019.
Room One, comprised of popular strains such as Bubba Kush, Moonshine Ghost Train Haze, Amherst Sour Diesel, Skywalker and Lemon Skunk has produced 200 lbs of wet flower. Drying and curing is in progress and samples of 5 lbs lots of each strain will be sent for mandatory testing to meet the State of Nevada’s regulations before distribution. Visit our website to view production in progress https://lihtcannabis.com/las-vegas-nevada/
The harvest has produced premium flower which will be packaged and sold as top-shelf product to Las Vegas Dispensaries this March. All of our packaging will bear certification symbols, verifying that we are using only organic materials and the best management practices thereby instilling consumer confidence in our brand.
Semi-annually the State of Nevada Department of Taxation establishes Fair Market Value of Wholesale Retail Marijuana. The current median rate for wholesale flower is $2,303 per pound. Top-shelf cannabis is on record for wholesale prices for up to $4,000 per pound.
The Department determines the Fair Market Value at Wholesale of retail marijuana. Pursuant to permanent regulation LCB File No. R092-17, Fair Market Value is defined as, the value established by the Nevada Department of Taxation, based on the price that a buyer would pay to a seller, in an arm’s length transaction for marijuana in the wholesale market. To view the current values, visit: https://tax.nv.gov/uploadedFiles/taxnvgov/Content/Forms/Marijuana-Fair-Market-Value-Jan-1-2019.pdf
“We are so proud of our US team of cultivators and Director of Operations