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THC Biomed Intl Ltd C.THC

Alternate Symbol(s):  THCBF

THC Biomed Intl Ltd. is a Canada-based cannabis producer. The Company’s principal business is the production and sale of cannabis through THC BioMed Ltd., which is a small batch Licensed Producer as regulated by the Cannabis Act which regulates the production, distribution, and possession of cannabis for both medical and adult recreational access in Canada. The Company’s biological assets consist of cannabis plants (mother plants and clones for growth); resin; oil; harvested marijuana flowers prior to completion of the drying, grading and testing processes; and edible concentrate. The Company operates in a single reportable segment being the cultivation and sale of cannabis. 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). Clone Shipper Ltd. owns all rights to the Clone Shipper product used to transport live plants.


CSE:THC - Post by User

Bullboard Posts
Post by Greencashon Sep 08, 2017 8:20pm
161 Views
Post# 26674582

Six takeaways from today’s Ontario government cannabis annou

Six takeaways from today’s Ontario government cannabis annou

Today the government of Ontario announced measures to regulate the use, consumption and sales of cannabis in the province. Three ministers spoke at the media briefing, including Attorney General of Ontario Yasir Naqvi, Minister of Finance Charles Sousa, and Health Minister Eric Hoskins.

To summarize, the LCBO will run 150 standalone stores that sell marijuana by 2020, in addition to a mail order option. Illegal dispensaries will be shut down, public consumption will not be allowed (like alcohol) and individuals may consume it on their private property in the same way they can smoke cigarettes on their private personal property.

Let’s take a look at key parts of what was unveiled during the briefing.


1. You can smoke on your outdoor balcony / backyard

Some of the same rules that apply to tobacco and alcohol consumption will now apply to cannabis, with provincial offences for smoking in public areas and only permitting use in private residences. When pressed by the media if that included outdoor balconies or backyards where the smell may waft onto other properties, it took a little time for ministers to concede that yes, cannabis consumption would be permitted on private balconies and backyards.

2. Illegal dispensaries are getting shut down

The government said they will shut down illegal dispensaries. It’s unclear what sort of enforcement mechanism they will use (who knows, maybe they’ll try civil forfeiture). “If you operate (a dispensary) consider yourself on notice,” Attorney General Naqvi said, for a “Co-ordinated and pro-active enforcement strategy.” The ministers also said they would be convening an enforcement “summit” with law enforcement.

3. The consumer experience will be somewhat restricted

The ministers said that there would likely be a “behind the counter” model at the LCBO-run cannabis stores. It’s unclear if this was in reference to the current model for tobacco sales, but the ministers implied that advertising and promotion at the point of sale would be restricted. The ministers said there would be 80 LCBO-run stores by 2019 and 150 by 2020.

4. 19+ would be the minimum age to purchase or consume cannabis

The ministers referred to a multiplicity of organizations that advocated a 19+ minimum purchase age, including the Centre for Addiction and Mental Health and the Canadian Mental Health Association. “It’s not so high that young people might be driven to the illicit market,” Minister Naqvi said.

5. Online mail order will be available

Because the 40 stores at launch likely won’t be able to service all Ontarians that live in rural areas or smaller towns, an online LCBO-run website will also launch. It’s anyone’s guess how much they will let you purchase at one time, though logic may suggest around the 30 gram limit.

6. No public consumption sites will be allowed at start

It’s unclear if this will lead to enforcement actions similar to what illegal dispensaries are expected to be in store for, but the ministers said that, to start, there wouldn’t be licensed consumption sites, and that the government-run stores would be the only place where cannabis would be sold.

The Twitter reaction in the Canadian cannabis industry was swift and mostly negative, with many in the industry that do not believe the number of stores is sufficient to address demand. There are 600+ LCBO locations across Ontario that sell alcohol, and the province’s plan for cannabis won’t get anywhere close to matching that, even by 2020.

 

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