THC purchases an additional lot in its current Kelowna location

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Makes second delivery of cannabis products to BC Province

Absorbs cost of federal Excise Tax for medical patients

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VANCOUVER, Oct. 16, 2018 /CNW/ – THC BioMed Intl Ltd. (“THC” or the “Company”) (CSE: THC) announces that it has purchased an additional strata lot in the industrial complex in Kelowna it currently occupies and where additional lots were recently purchased on June 29, 2018.  The additional lot will be used for production purposes. THC purchased this property as part of its expansion plan due to high demand for its products.

 

The purchase price was $390,000.00 plus fees and taxes, for a total of $410,698.85. THC purchased the strata lot for cash and did not require a mortgage.

THC is pleased to announce it has completed shipment of its second batch of cannabis products to the Province of B.C. ahead of legalization, this will allow for a wider variety of THC BioMed’s products to be available for purchase on launch day.

In line with our mandate to ensure medical cannabis patients continue to receive affordable medical cannabis, THC will absorb the excise tax imposed on all cannabis products for medical patients.

THC continues to work vigorously towards securing supply agreements with various provincial governments.

Emerald contributor since March 2012

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