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Liberty Health Sciences Expands Executive Leadership Team; Sheri Cholodofsky Appointed Chief Financial Officer

TORONTO , May 22, 2019 /CNW/ - Liberty Health Sciences Inc. (LHS.CN) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, today announced that Sheri Cholodofsky has been appointed Chief Financial Officer, subject to Florida Department of Health approval. Cholodofsky replaces Jeff Chan , Liberty's Vice President, Finance who served as interim Chief Financial Officer following the previously announced resignation of Rene Gulliver as Chief Financial Officer effective April 14, 2019 . Chan will resume his duties at Liberty as Vice President, Finance and will work closely with Cholodofsky during this transition period.

As previously announced, Liberty continues to work towards increasing its U.S.-based directors and senior executive team, to more closely align with its operations in the United States . The Company also continues to search for a U.S.-based executive to fill the Chief Executive Officer position.

"I am thrilled to welcome Sheri as the next CFO of Liberty," said Victor Mancebo , Interim Chief Executive Officer of Liberty. "Her knowledge and contributions will be a valuable addition to our senior leadership team as we work together to drive decisions that are in the best interest of our patients and shareholders. Additionally, I want to thank Jeff for his dedication and support over the past several months as our interim CFO. His leadership enabled a seamless transition following the departure of the Company's former CFO and he will continue to serve as a key member of our senior leadership team."

Sheri Cholodofsky , Chief Financial Officer

As Chief Financial Officer, Cholodofsky will be responsible for leading the Company's finance function and working with the Liberty executive leadership team on the strategic direction of the Company.

Cholodofsky is an accomplished certified public accountant based in Florida and has extensive experience in finance, accounting, human resources, operations management and driving capital market and M&A activities. She began her career in public accounting with global accounting firm BDO and then continued to hold the senior finance and accounting role for 14 years with Creative Staffing, an executive recruiting and human resources company.

In 2009 Cholodofsky joined Miami Air International where she worked for nine years in the highly regulated aviation industry. She headed up all aspects of the finance and accounting department including financial statement reporting, budgeting, analysis, cash flow management, cost reduction programs, and fraud prevention. She also secured a central role on the Executive Strategy Team, evaluating major capital projects, strategic partnerships, fleet management and M&A opportunities.

Cholodofsky received her Bachelor of Science degree in accounting from the University of Florida and a Master of Accounting degree from Florida International University .

"Sheri joins our Company at a very exciting time as we pursue an aggressive growth strategy supported by our state-of-the-art medical cannabis manufacturing facility located in Gainesville, Florida ," said Mancebo. "Sheri will work closely with Liberty's executive leadership team and the board to help advance our Company's vision and unique position in the cannabis industry."

Liberty currently operates 14 dispensaries across Florida in the following cities:

•   Dania Beach

•   North Miami

•   Miami

•   Port St. Lucie

•   Palm Harbor

•   Summerfield

•   St. Petersburg

•   Orange Park

•   Tampa (Hyde Park)

•   Gainesville

•   Winter Haven

•   Bonita Springs

•   Merritt Island

•   Cape Coral

 

Patients may place an order online at www.libertyhealthsciences.com for in-store pick-up or free delivery. Liberty also offers patients free delivery statewide.

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. Liberty's measured approach to expansion opportunities is focused on maximizing 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 Company's production capabilities, expectations concerning the receipt of all necessary approvals from the Florida Department of Health, expectations concerning the opening of new dispensaries and the expansion of its greenhouse space, 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.

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SOURCE Liberty Health Sciences Inc.


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