The strike-while-the-iron-is-hot mentality remains among investors and potential investors into the potentially lucrative – and increasingly crowded – field of medicinal marijuana.
Kelowna, B.C.-based Liht Cannabis (OTC:LIHTF) said its Marapharm, Washington subsidiary executed a Letter of Intent in mid-December, with another Canadian firm that has developed "Biospherical Systems" which control and enhance cannabis cultivation across the border into Washington State.The unnamed firm will design, fabricate, supply and install an advanced "Biospherical System".
The system incorporates proprietary technologies which can provide logistical, operational and financial benefits to the Company, over standard industry practices. This comprehensive agreement includes, commissioning and warranty of their equipment and future service required to facilitate operations. The pre-determined value of the systems is approximately $7.5 million U.S.
Liht CEO Rahim Mohamed added this comment, “We are committed to pursuing this alternative solution to increase production without causing dilution to our shareholders. This is another great opportunity to work in a like-minded partnership with a strategic commitment to technological innovation, for the uncompromised production of organic medical-grade cannabis."
Liht shares increased in price 1.85 cents, or 17.1%, during the end of trading on Wednesday – the first full session of 2019 – to 12.7 cents – on volume of more than 101,000.