Vancouver, British Columbia--(Newsfile Corp. - December 22, 2016) - THC BioMed (CSE: THC) (OTCQB: THCBF) (FSE: TFHC) has
received amendments to its Health Canada license. Effective immediately, the company is now authorized to sell "Starting
Materials", which refers to marijuana plants, under the Access to Cannabis for Medical Purposes Regulations.
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With 29 strains in stock, the company will be supplying registered individuals with starting materials in the form of clones,
which will be priced at $20 per clone, plus packaging and shipping. The company is well positioned to ship these starter plants,
following its previously announced Letter of Intent to acquire Clone Shipper for US$1 million.
US-based Clone Shipper specializes in packaging products used to transport live plants meeting Canadian and Federal
International laws governing the transportation of controlled live plants. The patented design allows for an LED light to keep the
clone in the growing vegetative stage for 12 to 24 hours while being shipped.
Clone Shipper products are available for purchase on www.cloneshipper.com, on www.THCbiomed.com, in addition to gardening supply outlets throughout the US, and on popular
internet sites such as www.amazon.com.
To accommodate this anticipated new business, the company has already started construction on its expansion, which will include
2 new vaults and 8 additional grow rooms.
John Miller, President and CEO, stated: "We are excited to add cannabis starting materials to our products on offer. Our new
website has been redeveloped, making it easy for patients to order our products. Our license was further amended to allow THC
BioMed scientists to do in-house analytical testing. This will allow us to conduct testing for research and development."
The company also sells Clonex clone solution, a specifically formulated plant food for rooting clones and seedlings using a
profile of the highest quality minerals including nitrogen, phosphorus and calcium along with vitamin B1 which reduces the risk of
transplant shock.
Health Canada previously granted THC authorization, through a wholly-owned subsidiary, to produce fresh marijuana, cannabis oil,
and cannabis resin. The company also carries a diverse selection of seeds, imported from Holland, including high CBD and high THC
producing strains.
With these new licenses in place, the company and Supra have agreed to cancel their earlier Joint Venture Agreement, thereby
avoiding the issuance of 3.5 million shares. THC believes these changes to its work with Supra will provide both companies greater
flexibility in their R & D programs.
The shares are trading at $0.99 and with 101 million shares currently outstanding, the company is capitalized at $100
million.
For more information, please visit www.THCbiomed.com, contact John Miller, President &
CEO, at 604-682-1643 or email info@THCbiomed.com.
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