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THC BioMed’s subsidiary, THC2GO Dispensers, has officially submitted its application to operate cannabis retail stores in the province of Manitoba.

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Kelowna, British Columbia based THC also announced that Health Canada has amended the company’s ACMPR license to include 4 additional Grow Rooms, which will allow the company to ramp up production, substantially adding an additional 400 kilograms per annum.

Additional Information:

Company: THC BioMed
Website: http://www.THCbiomed.com
Stock Symbol: CSE: THC
Date Published: Dec 20, 2017
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

THC BioMed’s subsidiary, THC2GO Dispensers, has officially submitted its application to operate cannabis retail stores in the province of Manitoba.

Kelowna, British Columbia based THC also announced that Health Canada has amended the company’s ACMPR license to include 4 additional Grow Rooms, which will allow the company to ramp up production, substantially adding an additional 400 kilograms per annum.

The 4 Grow Rooms went into production on Friday the 15th December 2017.

Within the next few months, the company anticipates being the first Licensed Producer to offer a consistent supply of 21 different strains as either dried material or live plants.

Using its Clone Shipper 3.0 containers, the company believes it is the largest shipper of live cannabis plants in Canada.

THC further announces that it has entered into negotiations to purchase a greenhouse business in Ontario, Canada’s most populated province.

The greenhouse business has been operating for more than 20 years and is well suited for growing cannabis.

Successful completion of the acquisition would immediately give THC 100,000 square feet grow capacity with both facilities combined and an expansion capability of 300,000 square feet.

Management reported that it has had its facility inspected for Good Production Practices to enable the export of products to the European Union, and expects positive results from the inspection and hopes to receive certification soon.

John Miller, President & CEO, stated: "As legalization of cannabis sets in globally, we have seen a rapid demand for our cannabis products by the international market. We are very satisfied with the progress we have made in 2017 and expect that our company outlook will demonstrate the rewards of our hard work. We take this opportunity to thank our shareholders for their patience and support, and wish you all a safe and festive Holiday Season."

The shares are trading at $0.77 and with 111 million shares currently outstanding, the company is capitalized at $85.5 million.

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