HEALTH CANADA GIVES THC GREEN LIGHT TO SELL DRIED MARIHUANA
THC Biomed Intl. Ltd. (THC.C) is now authorized by Health Canada to sell dried marijuana to registered patients under the ACMPR. THC already sells starting materials to eligible customers.
"THC is thrilled that it can now fill orders and accept new clients," said John Miller, chief executive officer of THC. "Our inventory is ready. Authorized customers can order from our new website and have products shipped directly to their homes. Our high-quality organically grown dried marihuana will be available in 29 strains Our pricing structure reflects our mandate of supplying good quality marihuana at an affordable price compassionate pricing of $4.20 per gram is available for interim supply to home growers that purchase starting material from THC Biomed. Our normal pricing will be $6 per gram for any of our 29 available strains regardless of their THC content. We believe a single pricing structure is a more beneficial to patients and will allow them to explore all our strains. Research has shown that higher THC levels do not necessarily equate to a better experience. We promise Canadians a very unique and high-quality product.
"This is a very important milestone for THC, as it allows us to compete directly with our peers regardless of their present size. We believe as the industry matures, cannabis companies will need to show investors actual profitable revenue and this is where we will be leaders. While we understand that investors want an upward curve, this must be achieved through genuine fundamentals and not hype.
"We are also pleased to report that we have had our licence renewed until Feb. 18, 2020. This is the longest renewal we have seen to date, and it signifies the confidence in our methods and control systems. THC has begun expansions of its current facility and in anticipation of the recreational market, we are currently engaged in acquiring two new sites to construct Canada's largest indoor cannabis facility. We intend to be Canada's leader in indoor cultivation.
"A report from Mackie Research dated April 8, 2016, estimates that the medical marihuana market in Canada will earn $567-million in 2018 and more-than-$1-billion-a-year market by 2020. A report in the Financial Post dated April 20, 2017, estimates the international medical marijuana market to be worth approximately $50[-billion] to $100-billion a year."
About THC Biomed Intl. Ltd.
THC's vision is to be on the leading edge of scientific research, and development of products and services related to the medical cannabis industry while creating a standard of excellence. As the industry develops, it will become more important to focus on scientific research, and development of products and services related to medical cannabis. Management believes THC is well positioned to be in the forefront of this rapidly growing industry.