KELOWNA, British Columbia and PHOENIX, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) (FSE: 2M0) (“Liht”) or the “Company”) is a publicly traded company investing in the medical and recreational cannabis space. Rahim Mohamed, Chief Executive Officer, talked with Stock Day’s Everett Jolly.
At the beginning of the interview, Jolly mentioned that Liht Cannabis Corp. used to be known as Marapharm Ventures Inc. He then asked Mohamed, what Liht Cannabis Corp. has to offer that other companies in the market space do not.
“We positioned ourselves strategically in really high-volume locations,” explained Mohamed. “With Canada being legal federally and the state of Nevada being legalized. We have access to a large population base that is now allowed to consume marijuana on a medical and recreational base. We’ve also got properties and assets in Washington State and California that we are working to develop our joint venture on at this point to complement our already strategic assets.”
Mohamed went on to say that the company focuses primarily on organic cannabis. They use proprietary methods that are pesticide free and chemical free. He said their products will get top shelf pricing because they are organic.
“We also have proprietary technology that allows us to produce the best product and also allows larger yields. So, the higher yield combined with the cost, which will be a lot lower using our technology, will give us a competitive advantage moving forward in the market.”
Jolly then asked about Liht Cannabis Corp. investing in or acquiring start-up companies. Mohamed said they have what they want to focus on, as far as the near future. He said the company has two significant markets in Canada and Nevada. Jolly then turned the conversation to recent marijuana crops, from other growers, failing or not passing standards. He asked Mohamed what challenges face his company.
“We have taken a different stance on marijuana, we believe it to be a tech play more than an agricultural play. Rather than putting out these massive greenhouses and outdoor fields,” explained Mohamed. “We’ve designed, through our science team, complete bio-secure buildings that are smaller in size. Our buildings are all about 11,000 square feet and each one contains 4 separate growing rooms, plus a seeding room and a vault. That allows us to completely secure each room separate for the other room. So, if anything goes wrong in one of our rooms, we only have to destroy 2,100 square feet versus 700,000 square feet.”
Mohamed also said that the biosecurity includes air showers, so when anyone enters the facility or a room, they go through an air shower.
“Anybody can throw seeds in the ground and watch them grow, but it’s about creating cost effective methods for growing. To cause the price to drop and the yields to grow,” said Mohamed.
Jolly then asked about the economics involved in greenhouse growing versus outdoor growing. Mohamed said that the quality of an outdoor grow is poor because you cannot control the environment.
“The indoor growers will produce a more consistent product. That’s what we are aiming for. We are aiming to be a producer of extremely high-quality, consistent, cost effective product.”
Mohamed went on to explain that an indoor facility may cost more, but the controlled quality cannot be discounted. He said their buildings stand out because they are creating the “most desirable” habitat for the plants to thrive. Everything from the lights to the plants themselves are controllable.
“We will be installing microchips in the plants themselves, so an individual plant can communicate through our computer system and let us know which plants require what needs. If there’s a section of the grow room that’s failing, we can see under what circumstances and why. We are really using technology to take this to the next level,” he explained.
To hear the entire interview with Liht Cannabis Corp.’s CEO, click the podcast link:
https://upticknewswire.com/featured-interview-ceo-rahim-mohamed-of-liht-cannabis-corp-otcqx-lihtf/
ABOUT LIHT CANNABIS CORP.
Liht Cannabis Corp. is a publicly traded company investing in the medical and recreational cannabis space, since 2014. Liht has rapidly expanded to include cultivation, production and dispensary locations in the key North American states of Washington, Nevada, and California, and are seeking expansion opportunities worldwide.
FOR FURTHER INFORMATION:
www.lihtcannabis.com
or Linda Sampson, President & COO 778-583-4476
SOCIAL MEDIA:
STOCK EXCHANGES:
Liht trades in Canada, ticker symbol LIHT on the CSE, in the United States, ticker symbol LIHTF on the OTCQX, and in Europe, ticker symbol 2M0 on the FSE. The Company also trades on other recognized platforms in Europe including Stuttgart, Tradegate, L & S, Quotnx, Dusseldorf, Munich, and Berlin.
Neither the CSE nor its Regulation Services Provider, the FSE nor the OTCQX® has approved nor disapproved the contents of this press release. Neither the CSE, the FSE nor the OTCQX® accepts responsibility for the adequacy or accuracy of this release.
MARIJUANA INDUSTRY INVOLVEMENT:
Canadian listings (CSE) will remain in good standing as long as they provide the disclosure that is rightly required by regulators and complying with applicable licensing requirements and the regulatory framework enacted by the applicable state in which they operate.
Liht owns marijuana licenses in California and Nevada. Marijuana is legal in each state however marijuana remains illegal under US federal law and the approach to enforcement of US federal law against marijuana is subject to change. Shareholders and investors need to be aware that adverse enforcement actions could affect their investments and that Liht’s ability to access private and public capital could be affected and or could not be available to support continuing operations.
Liht’s business is conducted in a manner consistent with state law and is in compliance with licensing requirements.
Copies of licenses are posted on Liht’s website. Liht has internal compliance procedures in place and has compliance focused attorneys engaged in jurisdictions to monitor changes in laws for compliance with US federal and state law on an ongoing basis. These law firms inform any necessary changes to our policies and procedures for compliance in Canada and the US.
FORWARD - LOOKING STATEMENTS:
Certain statements in this release are forward-looking statements, which includes, the effective trading date for the new name and symbol, the expected outcomes of its business, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, present and future business strategies, the environment in which the Company will operate in the future, and other factors, many of which are beyond the control of the Company. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: that laws and regulations may become more onerous; the ability of the Company to obtain necessary financing; the economy generally; the future growth, results of operations, performance and business prospectus and opportunities; changes in and the effect of government policies; demand for products; competition; anticipated and unanticipated costs; reliance on management; claims and legal proceedings; conflicts of interest; and market price and volatility of the Common Shares. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, technology failures, failure to obtain a license from Health Canada or from other government agencies, failure to develop new and innovative products, failure of counterparties to perform their contractual obligations and fees charged by service providers. Important factors that could cause actual results to differ materially from the Company’s expectations include, litigation, global economic climate, loss of key employees and consultants, additional funding requirements, changes in laws, competition, and failure of counterparties to perform their contractual obligations. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The Canadian Securities Exchange has not reviewed, nor approved the contents of this news release.
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