Liht Cannabis Corp. (CSE: LIHT) (OTCQX: LIHTF) has received conditional approval for a cannabis distribution license from the Nevada Department of Taxation.
Final approval of the license requires the purchase and inspection of a delivery vehicle, which the company says will take two weeks to complete.
If final approval is received, Liht can start shipment of ready-made product from its cultivation facility in Las Vegas.
Nevada Distribution License
After an 18-month moratorium on the issuance of new cannabis distribution licenses, the Nevada Department of Taxation resumed issuing licenses in November 2018 and selected Liht as a new licensee.
In addition to its pending distribution license, Liht had received cultivation and production licenses for its Las Vegas facility. The company estimates its current annual total cultivation capacity at approximately 1,600 pounds of premium, triple-certified flower.
All three licenses will allow Liht to begin delivering its premium flower strains along with its line of manufactured products such as infused edibles, topicals, pre-rolls, and vape cartridges to Nevada recreational retailers.
Further, Liht said that it received successful test results from third-party, state-approved labs for its initial harvest of its premium strains.
Kurt Keating, the director of U.S. operations, said that the move “re-affirms the company’s commitment to stringent cultivation procedures, yielding high-quality products consumers can trust.”
“As we ready our harvest for sale, we are working with both retail and production partners to capitalize on usable flower and concentrate revenue streams,” Keating stated.
Liht plans to save a portion of its initial harvest for extraction into concentrates at its production facility, which will be operational by the end of this month.
Focus on Nevada and Canadian Operations
Liht is focusing on boosting its presence in the Nevada and Canadian markets. As part of its efforts, the company recently announced a partnership with Cannabis One Holdings (CSE: CBIS) through 420 Delivery Express, which operates the Green Leaf Wellness dispensary located in the Coachella Valley of California.
As part of its strategy, Liht is planning to divest certain California and Washington assets, subject to any required regulatory approvals. Notably, the company wants to sell its 13.8-acre property containing a 28,000sqft facility in Lynden, Washington, as well as two additional California properties in Desert Hot Springs.
Moving forward, Liht has plans to expand its footprint in both Canada and Nevada through strategic partnerships.