#Cannabisstocks: Liberty Health Sciences (CSE: LHS) (OTCQX: LHSIF) Enters Exclusive Partnership With AdaViv To Develop New AI-Driven Analytics For Increased Crop Output
TORONTO - September 13, 2018 (Investorideas.com Newswire) Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of trusted, high quality cannabis experiences, announced today that they have entered an exclusive partnership with AdaViv Inc., a hardware-enabled, predictive agriculture company, to improve production of cannabis at its Liberty Health Sciences 360 Innovation Campus in Gainesville, FL.
AdaViv will integrate its adaptive Computer Vision software and Machine Learning platform into Liberty's 360 Innovation Campus and, together, will look to push the state-of-the-art in greenhouse technology and precision growing to new levels of productivity and efficiency.
AdaViv's technology enables 24/7 plant-level inspection as well as AI computer vision to uncover hidden plant biometrics that translates data into actionable insights for growers like Liberty. Founded by an interdisciplinary team of MIT researchers and alumni, AdaViv is led by Dr. Ian Seiferling (CEO), Julian Ortiz (COO, MBA MIT Sloan '19) and Dr. Thomas Matarazzo (CTO). AdaViv emerged from MIT Delta V, the capstone entrepreneurship accelerator at MIT, and the MIT DesignX accelerator. In 2018, AdaViv was selected as one of the first grantees of Microsoft AI for Earth.
"This partnership demonstrates Liberty's commitment for being a cutting-edge company that consistently looks for new ways to advance common practices through data and technology," said George Scorsis, CEO of Liberty Health Sciences. "Working together, we hope to refine AdaViv's game changing data capture and growth analytics technology to help us achieve the highest quality, consistency and yield for our crops, as well as monitor our plants in ways that our eyes never could. AdaViv will provide us with actionable knowledge, backed by real-time data. This will not only increase our output, but it will also boost our quality in a data driven format."
"We are excited to partner with Liberty Health Sciences to develop new AI-driven analytics for the booming medicinal cannabis industry," says Ian Seiferling, AdaViv CEO. "Integrating adaptive environmental actuation into Liberty's 360 Innovation Campus will allow AdaViv and Liberty to push the state-of-the-art in greenhouse technology and precision growing to new fronts."
The partnership also calls for AdaViv and Liberty to co-develop a set of data driven solutions and areas of improvements in the current production workflow, leveraging AdaViv's sensing, data capturing and predictive analytics technology. In total, the AdaViv platform will soon have access to over 250,000 square feet of Liberty greenhouse facility space.
"We take cultivation seriously and through the implementation of AdaViv we will have the necessary information to greatly improve our cultivation output," said Scorsis. "This will ultimately validate that we have a world class cultivation process at the center of our operation."
Currently, Liberty operates four dispensaries and six delivery hubs. The Company has also signed seven new leases for dispensaries that are at various stages of permitting and construction. Last week the Company reported a 95% increase in sales revenue in the three-month period ended August 31, 2018 compared to the previous three-month period that ended May 31, 2018. That is the largest revenue increase in Company history. Liberty also reported a 112% increase of almost 10,000 patients being seen at the Company's dispensaries as of the end of August – up from 4,600 by the end of last May.
About Liberty Health Sciences Inc.
Liberty is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty's measured approach to expansion opportunities maximizes returns to shareholders, while keeping consumers' well-being at the forefront of what we do. For more information, please visit: www.libertyhealthsciences.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "believe", "plan", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, expectations related to the implementation of AdaViv's platform and the Company's future expansion and growth strategies. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving medical marijuana; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the medical marijuana industry in the United States generally, income tax and regulatory matters; the ability of Liberty to implement its business strategies; competition; crop failure; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. Readers are further 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 placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE: Liberty Health Sciences Inc.
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