Greencash wrote:
HC Biomed leases office next to Acland Road property
2020-01-02 20:07 ET - News Release
Mr. John Miller reports
THC BIOMED LEASES ADJACENT PROPERTY FOR EXPANSION PURPOSES
THC Biomed Intl Ltd. has signed a three-year lease to rent an adjacent property to its flagship Acland Road location.
The lease term begins on March 1, 2020, and the company intends to use the property for administration, storage and other activities not related to cannabis production.
By renting this property, the company expects to free up space at its Acland Road location, which it intends to use for cannabis production. The company expects to construct four new grow rooms with the space reorganization once it is renovated and it receives approval from Health Canada.
Pursuant to the lease agreement, THC will pay a rental fee of $3,429.83 per month in the first year, $3,532.73 per month in the second year and $3,638.71 per month in the third year.
About THC Biomed Intl Ltd.
THC Biomed is a Cannabis Act licensed producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. THC Biomed is Canada's largest supplier of legal cannabis genetics. The company is on the leading edge of scientific research, and the development of products and services related to the medical cannabis industry.