Health Canada Approves Cannabis Production for Two Additional Strata Lots at THC BioMed's Flagship Acland Rd Location in Kelowna, B.C.

Published: April 10, 2019

Health Canada Approves Cannabis Production for Two Additional Strata Lots at THC BioMed's Flagship Acland Rd Location in Kelowna, B.C.

THC BioMed Intl Ltd. has received Health Canada permission to commence cannabis production in two additional strata lots at THC BioMed’s flagship location in Kelowna, B.C. The newly licensed strata lots will allow THC to begin automation of its systems allowing more efficient production, while increasing margins. THC now has 11 strata lots licensed for production, 3 additional strata lots are being submitted for review by Health Canada, while a further 3 strata lots are currently under construction. THC currently owns, leases or has under contract to purchase a total of 20 strata lots at its flagship Acland Rd location in Kelowna, B.C.

“While scale is essential in the development of a conglomerate, we need to properly asses the margins. We are streamlining systems to ensure quality is maintained while focusing on long term prosperity and viability,” commented THC’s Chief Financial Officer, Hee Jung Chun.

THC continues purchasing property as part of its expansion plan, which is supported by the high demand for its products. THC continues to expand its grow space footprint and hopes to soon conclude further expansion purchases. The Company will begin renovations at its downtown Kelowna location for the production of THC Kiss, which will be used to infuse a range of edibles in anticipation of the legalization of edibles. THC continues to work vigorously towards securing supply agreements with various provincial governments.