VANCOUVER, June 29, 2018 -- /D.M.O. Newswire/ -- THC BioMed Intl Ltd. ("THC" or the "Company") (CSE:THC) announces that it will purchase an additional strata lot in the industrial complex in Kelowna it currently occupies and where additional lots were recently purchased on June 12. The purchase is scheduled to close later today. The additional lot will be used for production purposes. THC is purchasing this property as part of its expansion plan due to high demand for its products. THC continues to expand its grow space footprint and hopes to soon conclude the purchase of a green house in Ontario.
In light of the recent Royal Assent of Bill C-45, THC continues to work vigorously towards securing supply agreements with various provincial governments.
We intend to meet supply demands for adult use recreational cannabis by working with small craft growers and giving an opportunity to ordinary Canadians to participate in this emerging market.
THC will work with ordinary Canadians, who would like to be a part of this emerging market. We believe that the entrepreneurial spirit Canadians have displayed in the past to bring high quality diverse product to the marketplace as witnessed in the wine and similar industries. THC has already begun working with entrepreneurial Canadians from diverse backgrounds to establish micro grows, giving them the support and technical know-how as to how to successfully cultivate, establish and run successful cannabis micro grows in accordance with the regulations.
THC believes that smaller batches of high quality product produced in a culture setting will be essential in delivering the experience THC expects from its products.
The purchase price for the additional strata lot is $320,000 cash (no mortgage), plus fees and taxes.
THC's vision is to be on the leading edge of scientific research, 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.
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 include that: (a) THC will purchase an additional strata lot in Kelowna where it currently occupies; (b) the property will be used for production purposes; (c) THC's purchase of the property is part of an expansion plan due to high demand for its products; and (d) THC continues to work vigorously towards securing supply agreements with various provincial governments. 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.