THC.CSE THCBF - OTC TFHC.F
VANCOUVER, May 8, 2017 /PRNewswire/ - THC BioMed Intl Ltd. ("THC" or the "Company") (CSE:THC) announces that it has purchased Clone Shipper LLC for USD $1,000,000. The Issuer will now add the Clone Shipper Business to its existing operations.
Clone Shipper is a U.S. based company, specializing in packaging products for the transportation of live plants.
We are extremely pleased to have completed this very strategic purchase of Clone Shipper. THC intends to continue building these great products in the USA.
"The Global demand for securely shipping live plants is increasing with the legalization of Medical Cannabis. This is the early formation of our presence within the international Cannabis market place. We look forward being a part of every Cannabis live plant that is shipped Globally. We will vigorously protect any infringements on our patents and continue to register patents worldwide "commented John Miller, THC BioMed Intl CEO and President.
THC management believes that Clone Shipper is currently the only device that meets Canadian and Federal International laws governing the transportation of controlled, live plants.
In recognition of the demand we have launched a separate product called "THC Clone Shipper" that is specifically designed to meet regulations surrounding the transportation of controlled substance plant.
We applaud the Canadian government on its move to legalize Recreational Marihuana. THC looks forward to supporting Recreational home growing once Recreational Marihuana is legalized. Home growing is expected to play a major role within the implementation of legalization, as it will dramatically alleviate the supply shortage anticipated upon legalization. While it is recognized that not all participants will have the desire to grow at home, we believe a sizable amount of the Canadian population will participate in Recreational home growing and BioMed has begun expansions in anticipation.
"We have worked hard to produce a product that will grow under the most stressful conditions. Furthermore, our strains have been bred to ensure that the end product has a distinct herbal odor, and burns a less pungent marihuana smell.
"We want to deliver the most potent, cleanest, clearest product in every aspect" stated John Miller. We look forward to introducing our THC Sativa Strain. It is a landrace strain with high levels of THCV. THCV a Cannabinoid that is rarely spoken about or researched, it is only found in certain strains, and THC believes that this cannabinoid will become very important in the future.
THC BioMed currently ships the most live Cannabis plants in Canada, and has the widest selection of strains available.
THC BioMed anticipates introducing its Dried marihuana products for sale at $420 per gram by Q3. THC BioMed has structured pricing to reflect its mandate of providing patients with accessibility to medicinal cannabis.
Clone Shipper products are available for sale through www.thcbiomed.com or www.cloneshipperunit.com. They are also available for purchase at gardening supply outlets throughout the U.S. and Amazon.com. THC intends to expand the Clone Shipper Business in Canada, the U.S. and worldwide.
On February 7, 2017, The Issuer and Clone Shipper entered into a purchase agreement, pursuant to which, The Issuer intended to acquire all of the issued and outstanding securities of Clone Shipper. Pursuant to a review of the applicable laws and regulations, especially those regarding intellectual property, the parties agreed to complete the transaction through the purchase by the Issuer of all or substantially all of the assets of Clone Shipper. To facilitate the speed of this transaction, The Issuer has borrowed CAD $1,000,000 as a short-term loan from Hee Jung Chun, a director and CFO of THC BioMed.
The main assets being purchased in the transaction are seven patent applications, a trademark application, the domain name and website www.cloneshipperunit.com, as well as all of the other intellectual property, contracts, equipment and inventory of the Clone Shipper Business.
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. 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 and include that (c) THC and Clone Shipper will dominate the Canadian, U.S. and international markets for Starting Material where it is legal, (d) 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, (e) as the medical marijuana industry develops, it will become more important to focus on scientific research and development of products and services related to medical cannabis and (f) THC will be in the forefront of this rapidly growing industry. 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.
SOURCE THC BioMed