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THC BioMed (CSE: THC) has received Ammendments to its Health Canada License

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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.

Additional Information:

Company: THC BioMed
Website: http://www.THCbiomed.com
Stock Symbol: CSE: THC
Date Published: Dec 21, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

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.

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 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 $0.98 and with 101 million shares currently outstanding, the company is capitalized at $98 million.

For more information, please visit www.THCbiomed.com, contact John Miller, President & CEO, at 604-682-1643 or email info@THCbiomed.com.

I’m Samantha Deutscher for Investmentpitch Media