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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 Kevelleon Apr 09, 2019 12:45pm
95 Views
Post# 29602616

THC Health Canada permission to commence cannabis production

THC Health Canada permission to commence cannabis production

VANCOUVERApril 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.

 

 

THC BioMed (CNW Group/THC BioMed)

 

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.


Read more at https://stockhouse.com/news/press-releases/2019/04/09/health-canada-approves-cannabis-production-for-two-additional-strata-lots-at#OLMgdJC2T8PsEhqo.99
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