Liberty Health Sciences Announces Closing of Bought Deal Financing

TORONTO, May 10, 2018 (GLOBE NEWSWIRE) — Liberty Health Sciences Inc. (CSE:LHS) (OTCQX:LHSIF) (“Liberty” or the “Company”) is pleased to announce it has closed its short form prospectus offering, on a bought deal basis, including the exercise in full of the underwriters’ over-allotment option. A total of 25,555,875 units (the “Units”) of the Company were sold at a price of $0.90 per Unit, for aggregate gross proceeds of $23,000,287.50 (the “Offering”). Each Unit consisted of one common share of the Company (a “Unit Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a “Warrant Share”) at a price of $1.10 until May 10, 2020. The Offering was underwritten by a syndicate of underwriters led by Clarus Securities Inc. and including Haywood Securities Inc. and INFOR Financial Inc.

The net proceeds from the Offering are expected to be used to partially fund the Company’s acquisition of a 75% ownership interest in Massachusetts-based William Noyes Webster Foundation, Inc., including the related build-out of a cultivation facility and dispensary, with the balance for general working capital purposes.

The Units were offered for sale in each of the provinces of Ontario, Alberta and British Columbia by short form prospectus, and in those jurisdictions outside of Canada which were agreed to by the Company and the underwriters, where the Units were issued on a private placement basis, exempt from any prospectus, registration or other similar requirements.

About Liberty Health Sciences Inc.

Liberty Health Sciences Inc. is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. states where medical cannabis is legal. Liberty’s stringent investment criteria for expansion maximizes returns to shareholders, while focusing on significant near- and mid-term opportunities. Liberty has an extensive background in highly regulated industries, with expertise in becoming a low-cost producer. Liberty leverages commercial greenhouse knowledge to deliver high-quality, clean and safe pharmaceutical grade cannabis to patients.

For more information, please visit libertyhealthsciences.com

Original press release

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