THC BioMed International, Ltd. (OTCQX: THCBF) (CSE: THC) is a Canadian licensed producer of medical and recreational cannabis and related products. The company is licensed with Health Canada to cultivate and sell dried cannabis, extracts, edibles, and topical products. THC BioMed is also the largest supplier of cannabis genetics within Canada. THC BioMed’s U.S.-listed shares jumped 31.11%, during trading on Wednesday, November 20, 2019. Over the past month, THC BioMed has seen average daily volume of 36,139 shares. However, volume of 137,121 shares or dollar volume of $16,180, exchanged hands during trading on Wednesday.
Shares of THC BioMed International climbed on Wednesday, after the company announced that it has submitted its THC Kiss cannabis beverage to Health Canada for approval. Using its proprietary extraction capabilities, the company developed its new cannabis beverage. Health Canada regulations require a 60-day notice period for cannabis products before they can be sold. Here is the full press release detailing of the beverage submission:
THC BioMed International, Ltd. Press Release:
VANCOUVER, Nov. 20, 2019 /PRNewswire/ – THC BioMed Intl Ltd. (CSE:THC) (“THC BioMed” or the “Company“) is excited to announce that it has submitted its cannabis beverage, THC KISS, for approval under the Cannabis Act as a new product by Health Canada.
“THC KISS is a brand new cannabis beverage that is not available in either the grey or legal cannabis markets. THC Kiss was developed by THC BioMed using proprietary extraction methods invented by THC BioMed. We remain a true cannabis company that is fully integrated with passion and understanding of cannabis. Our operational procedures have proven successful and we have demonstrated that we have the ability to scale at low cost while producing the finest quality cannabis at a very reasonable cost to the end consumer,” said John Miller, President & CEO of THC BioMed.
Health Canada requires a 60-day notice period before any new cannabis product can be made available for sale.
“We are excited about the future and look forward to capturing market share and scaling up accordingly. We expect our gross margins to increase and predict growth in sales this coming year,” commented John Miller.
THC BioMed is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. THC BioMed is Canada’s largest supplier of legal Cannabis Genetics. The Company is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC BioMed 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 BioMed Intl Ltd. (“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. Forward-looking statements in this press release include that (a) THC Kiss will be approved by Health Canada (b) THC’s gross margins will increase and sales will continue grow in the coming year, (c) THC will capture market share and scale up accordingly, and (d) THC will be in the forefront of this rapidly growing industry. 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. 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.