B.C. Selects THC BioMed to Supply Recreational Adult-Use Cannabis
THC.CSETHCBF - OTCTFHC.F
VANCOUVER, July 11, 2018 /CNW/ - THC BioMed Intl Ltd. ("THC" or the "Company") (CSE:THC) announces that it has been selected by the province to supply British Columbians with adult-use cannabis. THC has entered into an agreement through its wholly-owned subsidiary, THC BioMed Ltd. to supply non-medical cannabis to the B.C. Liquor Distribution Branch following legalization.
THC is very proud to be given this opportunity to have its products available for sale in British Columbia, beginning October 17, 2018.
In the supply agreement, B.C. agrees to purchase approximately 2,390,200 grams of cannabis from THC in the first 12 months of legalization at the prices set by the province. The cannabis will be in 19 different products and in the form of dried flower, pre-rolled and oil.
"This supply agreement cements our entry into the adult-use recreational market. For THC it brings a fundamental change as we now begin to exhibit our true strengths, allowing the business to grow organically," said John Miller, President and CEO of THC, "We look forward to providing adult Canadians with an exceptional product."
THC is an ACMPR Licensed Producer and Canada's largest supplier of legal Cannabis Genetics. THC also produces and sells dried and fresh marijuana and cannabis oil for medical purposes. THC is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC is well-positioned to be in the forefront of this rapidly growing industry.
Please visit our website for a more detailed description of our business and services available. www.thcbiomed.com
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC. Forward-looking information is based on certain key expectations and assumptions made by the management of THC. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although THC believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. Forward-looking statements contained in this press release are made as of the date of this press release and include that (a) non-medical cannabis will be legalized in Canada and (b) THC's non-medical cannabis products will be available for sale in British Columbia, beginning on October the 17, 2018. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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SOURCE THC BioMed
THC BioMed (CNW Group/THC BioMed)