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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

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Post by Greencashon May 31, 2018 7:17am
82 Views
Post# 28103809

Canopy announced Wednesday the $28.8-million purchase of Dad

Canopy announced Wednesday the $28.8-million purchase of DadCanopy Growth reaches into Africa with purchase of cannabis company in Lesotho Jacquie Miller Published: May 30, 2018 Updated: May 30, 2018 1:45 PM MDT Filed Under: Edmonton Sun News Edmonton RELATED NEWS Stem cell registration drives being organized in Edmonton and Calgary to help save student's life NEWS Greater Hardisty residents push for 101 Avenue improvements NEWS Police investigating after body discovered in apartment fire NEWS Disciplinary hearing for police officer accused of providing improper information A cannabis plant at Canopy Growth's facility in Niagara-on-the-Lake, one of the company's 10 production sites in Canada. Soon Canopy will operate in Africa after buying a cannabis company in the Kingdom of Lesotho. Tyler Anderson/Naitonal Post / Tyler Anderson/National Post Canopy Growth in Smiths Falls has extended its reach into Africa with the purchase of a cannabis company in the Kingdom of Lesotho. Canopy announced Wednesday the $28.8-million purchase of Daddy Cann Lesotho PTY Ltd. The facility is in a mountainous area that receives more than 300 days of sunshine a year, has ideal humidity and growing conditions for greenhouse cannabis and low operating costs, said Canopy in a release. This places Canopy in a growth position to produce large quantities of high quality medical cannabis at a low cost. Lesotho is well positioned to supply medical cannabis for Southern Africa, said Canopy. The deal means the company now has a presence in nine countries on five continents. Canopy and other big Canadian cannabis companies are racing to secure global deals as more countries legalize medical marijuana. They are buying cannabis companies outright or making equity investments in them as well as signing supply, licensing and distribution agreements. Lesotho, which last year became the first African country to issue licences for the production of medical marijuana, is seen as a key opportunity. Farmers in the tiny landlocked country completely surrounded by South Africa have long grown marijuana. Its consumed domestically and exported illegally to South Africa. Pot is one of the countrys major cash crops. Canopy isnt the only Canadian cannabis country investing in Lesotho. In March, The Supreme Cannabis Company Inc. purchased a 10 per cent stake in licensed grower Medigrow Lesotho for $10 million. The intent is to export cannabis oil made there to other countries, including Canada, as regulations allow, Supreme said in a statement. Another leading Canadian company, Aphria, announced earlier this week a $4-million deal that will bring it a majority stake in another medical cannabis company in Lesotho, Verve Dynamics. Canopy also announced it has obtained a licence for its 10th production facility in Canada. A joint venture with Les Serres Vert Cannabis Inc. in Quebec received a cultivation licence from Health Canada on May 25. Canopy Growth has tripled its licensed growing space since the beginning of the year to 2.4 million square feet, says the company. It plans a total of 5.6 million square feet of production space to produce cannabis for both medical and recreational consumers. jmiller@postmedia.com
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