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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

Post by Greencashon Sep 19, 2020 9:03am
195 Views
Post# 31586672

Industry doing amazing,THC Just needs Marketshare $$$

Industry doing amazing,THC Just needs Marketshare $$$

THC  will do it.......... GOOD LUCK ALL $$$$$


Canada’s recreational marijuana sales grow to record CA$231 million

Retail sales of adult-use cannabis in Canada grew yet again in July, increasing by 15.2% over June’s recordto another high of 231.6 million Canadian dollars ($175.6 million).

The July sales imply an annual Canadian marijuana market worth nearly CA$2.8 billion.

 

Monthly sales of regulated recreational cannabis increased across all Canadian provinces, Statistics Canada reportedFriday.

 

Ontario, the largest province by population, saw monthly sales increase by 23.5% to CA$60.3 million.

The growth came after Ontario’s cannabis store license count surpassed 100 in June, a start to addressing the province’s deficiency in cannabis retail outlets.

Steven Fry, co-founder and CEO of Sessions Cannabis, has opened five retail locations in Ontario so far and plans to open 27 more by April 2021.

Two new Sessions locations opened in Ontario in July, and Fry said both experienced significant weekly sales growth.

“I think you’ll see that (growth) trend continue,” he said, adding that brick-and-mortar stores have proved far more popular than online sales in Ontario.

“People really want to go in brick-and-mortar stores, they want to engage with staff, they want to learn about the products, they want to have that convenience available to them,” said Fry.

“I think as more and more stores open up, you’ll see those numbers increase even further in the market here.”

Alberta, which has far more cannabis stores per capita than any other province, once again beat out the more populous provinces of Quebec and British Columbia with July sales of CA$51.8 million, a 10.9% monthly increase.

Recreational cannabis sales in Quebec, which has relatively few stores, grew by 9.8% on a monthly basis to CA$43.9 million.

In British Columbia, sales reached CA$34.6 million, a 17.6% monthly increase.

Manitoba sales increased 10.8% over June to CA$9.1 million, while Saskatchewan recorded the smallest monthly growth, 6.8%, to CA$11.9 million.

In eastern Canada, July retail sales were:

  • New Brunswick: CA$6.4 million (+20.9%).
  • Newfoundland: CA$4.1 million (+25.3%).
  • Nova Scotia: CA$6.9 million (+12.2%).
  • Prince Edward Island: CA$1.5 million (+35.3%).

Statistics Canada’s release of August retail trade figures is scheduled for Oct. 21.

Solomon Israel can be reached at solomon.israel@mjbizdaily.com


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