THC BioMed Intl Ltd (“THC” or the “Company”) (CSE: THC) announces that it is now authorized by Health Canada to sell dried marijuana to registered patients under the ACMPR. THC already sells starting materials to eligible customers.
Compassionate pricing of $4.20 per gram is available for interim supply to home growers that purchase starting material from THC Biomed.
Our normal pricing will be $6 per gram for any of our 29 available strains regardless of their THC content. We believe a single pricing structure is more beneficial to patients and will allow them to explore all our strains. Research has shown that higher THC levels do not necessarily equate to a better experience. We promise Canadians a very unique and high quality product.
This is a very important milestone for THC, as it allows us to compete directly with our peers, regardless of their present size. We believe as the industry matures, cannabis companies will need to show investors actual profitable revenue and this is where we will be leaders. While we understand that investors want an upward curve, this must be achieved through genuine fundamentals and not hype.
We are also pleased to report that we have had our license renewed until 18 February 2020. This is the longest renewal we have seen to date, and it signifies the confidence in our methods and control systems. THC has begun expansions of its current facility and in anticipation of the recreational market, we are currently engaged in acquiring 2 new sites to construct Canada’s largest Indoor cannabis facility. We intend to be Canada’s leader in indoor cultivation.
A report from Mackie Research dated April 8, 2016, estimates that the medical marihuana market in Canada will earn $567,000,000 in 2018 and more than billion dollars a year market by 2020. A report in the Financial Post dated April 20, 2017 estimates the international medical marihuana market to be worth approximately $50 to $100 billion a year.