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.

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THC Biomed Intl Ltd > News!!!!

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Comment by Petespipeon Mar 17, 2021 8:16am

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Post# 32814746

RE:News!!!!

ChefBHT wrote:

THC BioMed Announces Engagement of Cannabis Cylinder Production Consultant and Option Grant

THC.CSE
THCBF - OTC
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VANCOUVER, BC, March 17, 2021 /CNW/ - THC BioMed Intl Ltd. ("THC BioMed" or the "Company") announces that it has engaged a consultant to carry out an enhancement project on the Company's automated cannabis cylinder machine to improve cannabis cylinder production and add automated packaging to the process. The Company has granted the consultant 500,000 stock options upon his engagement. The option are subject to a milestone vesting schedule described below and may be exercised at a price of CAD $0.165per common share, for a period of 2 years from the date of issuance.

The options will vest as follows:

50,000 upon grant;

50,000 upon restarting production following the enhancement project;

100,000 upon THC BioMed's approval of the cannabis cylinders produced following the enhancement project; and,

300,000 upon the completion of three batches of cannabis cylinders/Cannasticks, rolled and packaged, following the enhancement project.

The consultant has more than 30 years' experience in use of the type of automated machine used by THC BioMed in making its cannabis cylinders/Cannasticks. He was instrumental in originally adapting THC BioMed's machine to cannabis from its prior use.

The Company intends to use the increased production for its own Cannasticks or to offer toll production to other Licensed Producers.