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THC BioMed (CSE: THC) entered into an exclusive distribution agreement with Clone Shipper

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THC BioMed has entered into an exclusive distribution agreement with Clone Shipper, for the rights to clone shipper products in Canada.THC paid $75,000 for the distribution rights for a two-year period.

Additional Information:

Company: THC BioMed
Website: http://www.thcbiomed.com
Stock Symbol: CSE: THC
Date Published: Nov 1, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

THC BioMed has entered into an exclusive distribution agreement with Clone Shipper, for the rights to clone shipper products in Canada.

THC paid $75,000 for the distribution rights for a two-year period.

The two companies are continuing to move forward to close the THC BioMed acquisition of Clone Shipper for US$1 million, which was announced in the recent Letter of Intent.

Management believes this acquisition will allow THC to penetrate the U.S. and international cannabis markets, in the areas where it is legally permissible.

US-based Clone Shipper specializes in packaging products used to transport live plants and is currently the only device that meets 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.

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.

John Miller, President and CEO, stated: “In order to meet immediate demand for the product, we have entered into this distribution agreement so that Clone Shipper is made available to the Canadian market place. THC has injected USD$ 75,000 into Clone Shipper for general working capital and to have subtle changes made to the design of the device to ensure it meets regulatory requirements. Clone Shipper is an essential component required to be able to transport controlled, live plants in compliance with regulatory requirements. Clone Shipper ensures your plants arrive healthy and stress free.”

Clone Shipper products are currently available for purchase on www.cloneshipper.com, and as of as of December 1st, 2016, they will be available for purchase on www.THCbiomed.com.

The products are also available at gardening supply outlets throughout the US, and on popular internet sites such as Amazon.com.

Management believes that Clone Shipper is currently the only device that meets Canadian and International laws governing the transportation of controlled, live plants, and that demand will continue to increase with the legalization of medical cannabis.

The company plans to continue to strengthen patents on the Clone Shipper product.

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.

The shares are trading at $0.96 and with 101 million shares currently outstanding, the company is capitalized at $97 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