During the month of November, management participated in a Health Canada inspection of its AMPR licensed facility in Kelowna, B.C. The Initial inspection took 4 days to complete with Health Canada inspectors examining all aspects of the ACMPR.
THC Biomed is the 1st Licenced producer to Apply for a license to sell Starting Material to registered clients under the ACMPR. Other licenced producers with sales license are currently authorized to sell starting material to registered clients for 6 months but will need to apply for an amendment should they wish to continue selling starting material.
Should THC be granted the amendments it has applied for, it would become Canada’s most LICENCED, LICENCED Producer. Management was pleased with the inspection and confident that it continues to meet all of Health Canada’s requirements.
THC is also pleased to report that it has received an indication that its license will be amended to include in-house analytical testing at its onsite laboratory. This allows THC to conduct its own analytical testing for internal research and development purposes.
During the month of November, management oversaw the completion and filing of the Issuer’s audited financial statements and Management’s Discussion and Analysis.
Management will continue to employ fiscal discipline as we asses and strategically move forward in building an international vertically integrated Cannabis conglomerate. Management continues to work diligently to increase shareholder value and meet the milestones it has set out to shareholders.