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THC BioMed (CSE:THC) has entered into a LOI to purchase a Farm and Greenhouses in the Niagara region of Ontario, Canada

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The new property, which consists of approximately 8 1/2 acres, has approximately 7 acres of growing space, including 70,000 square feet of greenhouse space.

Additional Information:

Company: THC BioMed
Website: http://www.THCbiomed.com
Stock Symbol: CSE: THC
Date Published: Feb 15, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

THC BioMed, Canada’s largest supplier of legal Cannabis Genetics, has entered into a Letter of Intent to purchase a Farm and Greenhouses in the Niagara region of Ontario, Canada.

Southern Ontario is home to over 94%, or 12.1 million, of Ontario's total population of 12.9 million people, and about 35% of Canada's total population.

The new property, which consists of approximately 8 1/2 acres, has approximately 7 acres of growing space, including 70,000 square feet of greenhouse space.

Irrigation equipment and all equipment and supplies necessary for the operation of the greenhouses are included in the purchase price.

One of the vendors of the property has agreed to stay on as a consultant, bringing 32 years’ cultivation expertise to the new project.

There is a farmhouse on the property, which the vendors intend to rent back from THC at market rates.

THC intends to add this new property to its licensed facilities in British Columbia for the production of cannabis.

John Miller, President & CEO, stated: “THC is excited to be expanding into Ontario. By combining THC’s top grade genetics and scientific knowledge, we intend to grow the best cannabis on this Niagara property, using local farming expertise in a turnkey production facility. We are positioning ourselves and look forward to supplying the Province of Ontario with our top grade cannabis once recreational cannabis is legal.”

Based in Kelowna, British Columbia, the company offers approximately 20 strains of high quality, organically grown marijuana in either dried form at $6.00 per gram or as a live plant at $20.00.

The company has compassionate pricing available at $4.20 per gram, for interim supply to home growers that purchase starting material from THC BioMed.

The company is well financed, having closed a private placement on February 8, 2018, raising gross proceeds of approximately $1.3 million from the issuance of approximate 1 million units at $1.328 per unit.

Each unit contained a warrant exercisable at $2.08 for 36 months.

Alumina Partners was the purchaser, which brings their total investment to $6,031,000.

The proceeds of this private placement will be used for potential expansion internationally and within Canada and for general working capital.

The shares are trading at $1.45.

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

I’m Samantha Deutscher for Investmentpitch Media