THC Health Canada permission to commence cannabis production VANCOUVER, April 9, 2019 /CNW/ - THC BioMed Intl Ltd. ("THC" or the "Company") (CSE:THC) announces that it has received Health Canada permission to commence cannabis production in two additional strata lots at THC BioMed's flagship location in Kelowna, B.C.
The newly licensed strata lots will allow THC to begin automation of its systems allowing more efficient production, while increasing margins.
THC now has 11 strata lots licensed for production, 3 additional strata lots are being submitted for review by Health Canada, while a further 3 strata lots are currently under construction.
THC currently owns, leases or has under contract to purchase a total of 20 strata lots at its flagship Acland Rd location in Kelowna, B.C.
"While scale is essential in the development of a conglomerate, we need to properly asses the margins. We are streamlining systems to ensure quality is maintained while focusing on long term prosperity and viability," commented THC's Chief Financial Officer, Hee Jung Chun.
THC believes that small batches of high quality product, produced in a culture setting will be essential in delivering the experience expected from our products.
THC continues purchasing property as part of its expansion plan, which is supported by the high demand for its products. THC continues to expand its grow space footprint and hopes to soon conclude further expansion purchases.
THC will begin renovations at its downtown Kelowna location for the production of THC Kiss, which will be used to infuse a range of edibles in anticipation of the legalization of edibles
THC continues to work vigorously towards securing supply agreements with various provincial governments.
About THC
THC is an ACMPR Licensed Producer and Canada's largest supplier of legal Cannabis Genetics. THC is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC is well-positioned to be in the forefront of this rapidly growing industry.
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