THC Biomed Intl Ltd C.THC

Alternate Symbol(s): THCBF

Healthcare Cannabis

THC Biomed Intl Ltd. is a Canada-based cannabis company. The Company is engaged in the production of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. The Company is also engaged in scientific research and the development of products and services, with patient safety as a guiding principle. Its subsidiaries include THC BioMed Ltd., Clone Shipper Ltd., THC BioMed Victoria Falls Ltd., THC2GO Dispensaries Ltd. (THC2GO), and THC BioMed Lesotho Ltd. (THC Lesotho).

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THC Biomed Intl Ltd

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Comment by adamchesson Oct 13, 2017 6:55pm

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Post# 26812438

RE:THC COMPLETES ADDITIONAL CLOSING UNDER CAPITAL COMMITMENT

Seems like a big gift to Alumina Partners? Was it really necessary? If so, very sad.

kijiji wrote:
THC COMPLETES ADDITIONAL CLOSING UNDER CAPITAL COMMITMENT

THC Biomed Intl Ltd. has completed two additional drawdowns on its capital commitment agreement with Alumina Partners (Ontario) Ltd. This brings the total raised through the Alumina capital commitment to $900,000.

On October 5, 2017, the Company issued to Alumina 359,196 units at a price of $0.696 per Unit, for total proceeds of $250,000.54. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company for a period of 36 months from closing at a price of $1.0875 per share. On October 12, 2017, the Company issued to Alumina 355,115 units at a price of $0.704 per unit for additional gross proceeds of $250,000.96. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company for a period of 36 months from closing at a price of $1.10 per share. The net proceeds raised through the private placement will be used for general working capital, including the ramp up of existing production and sales operations and the exploration of new opportunities.