Twitter Facebook LinkedIn YouTube

THC BioMed (CSE: THC) Closed Acquistion of U.S. based Clone Shipper LLC

Video Platform Video Management Video Solutions Video Player

THC BioMed acquired 100% of the shares of Clone Shipper at a cost of US$1 million. The company is using the newly designed Clone Shipper 3.0 containers to ship live cannabis plants across Canada and believes it is the one of the first companies in Canada to ship live cannabis plants.

Additional Information:

Company: THC BioMed
Website: http://THCbiomed.com
Stock Symbol: CSE: THC
Date Published: May 8, 2017
Transcript: Available

Video Transcript:

I’m Bethany Rae for Investmentpitch Media

THC BioMed has closed its previously announced acquisition of U.S. based Clone Shipper LLC.

THC BioMed acquired 100% of the shares of Clone Shipper at a cost of US$1 million. The company is using the newly designed Clone Shipper 3.0 containers to ship live cannabis plants across Canada and believes it is the one of the first companies in Canada to ship live cannabis plants.

The patented design allows for a LED light to keep the clone in the growing vegetative stage for 12 to 24 hours during shipment.

Management believes that Clone Shipper is currently the only device that meets Canadian and Federal International laws governing the transportation of live, controlled substance plants, and has launched a separate product called “THC Clone Shipper” specifically designed to meet these regulations.

The products are available for sale through thcbiomed.com or cloneshipperunit.com.

John Miller, President & CEO, stated: “The Global demand for securely shipping live plants is increasing with the legalization of Medical Cannabis. This is the early formation of our presence within the international Cannabis market place. We look forward being a part of every Cannabis live plant that is shipped Globally. We will vigorously protect any infringements on our patents and continue to register patents worldwide.”

With the Canadian government moving toward the legalization of recreational marijuana, the company expects that home growing will play a major role in alleviating a potential supply shortage.

To fill the need for live plants, THCBioMed is expanding, and has developed a product that will grow under the most stressful conditions.

It has developed strains with a distinct herbal odor, resulting in a product which exhibits a less pungent marijuana smell when smoked.

John Miller further commented: “We want to deliver the most potent, cleanest, clearest product in every aspect. We look forward to introducing our THC Sativa Strain. It is a landrace strain with high levels of THCV. THCV, a Cannabinoid that is rarely spoken about or researched, is only found in certain strains, and THC believes that this cannabinoid will become very important in the future.”

THC BioMed currently ships the most live Cannabis plants in Canada, and has the widest selection of strains available.

It anticipates introducing its dried marijuana products at $4.20 per gram by the third quarter, a price which reflects the company’s mandate to provide patients with accessibility to medical cannabis.

The shares are trading at $0.59 and with 103 million shares currently outstanding, the company is capitalized at $60.8 million.

For more information, please visit THCbiomed.com, contact John Miller, President & CEO, at 1-844-THCMEDS or email info@THCbiomed.com.

I’m Bethany Rae for Investmentpitch Media