Vancouver, British Columbia--(Newsfile Corp. - July 13, 2018) - THC BioMed (CSE:THC) (OTCQB:THCBF) (FSE:TFHC), arguably Canada's largest supplier of legal Cannabis Genetics, has been selected by the Province of British Columbia to be a supplier of adult-use cannabis to the province. THC has entered into an agreement, through its wholly-owned subsidiary, THC BioMed Ltd., to supply 19 different non-medical cannabis products, consisting of dried flower, pre-rolled and oil.
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The Province, through the B.C. Liquor Distribution Branch, agrees to purchase approximately 2,390,000 grams of cannabis in the first 12 months, following legalization on October 17, 2018, at the prices set by the Province.
Liquor Distribution Branch spokeswoman, Viviana Zanocco, stated: "The goal was to have the "right mix" of cannabis quality and selection at prices that users will be accustomed to once legal recreational sales get under way. The B.C. marketplace is very sophisticated, very knowledgeable. Customers are used to having a lot of selection, so we wanted to make sure we have a safe, reliable supply."
John Miller, President and CEO, stated: "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. We look forward to providing adult Canadians with an exceptional product."
THC BioMed, a Licensed Producer under Health Canada's Access to Cannabis for Medical Purposes Regulations, also produces and sells dried and fresh marijuana and cannabis oil for medical purposes. THC is a leader in scientific research and the development of products and services related to the medical cannabis industry, and company management believes THC is well-positioned to be in the forefront of this rapidly growing industry.
THC BioMed is included in the Horizons Marijuana Life Sciences Index ETF, the first and world's largest ETF offering direct exposure to North America's top marijuana bioengineering and production companies.
For more information, please visit www.THCbiomed.com, contact John Miller, President & CEO, at 1-844-THCMEDS or email info@THCbiomed.com.
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