Yahoo Finance InvestmentPitch Media Video Discusses THC BioMed’s Launch of State-of-the-Art Medical Dispensary in Thailand
VANCOUVER, British Columbia, June 22, 2023 (GLOBE NEWSWIRE) -- THC BioMed Intl (CSE:THC) (OTCQB:THCBF) (FSE:TFHD), one of Canada’s oldest licensed producers of medical and recreational cannabis, has launched a state-of-the-art medical dispensary in Thailand.
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Because of Thailand’s foreign ownership regulations, the new THC2Go dispensary is owned by THC BioMed (Thailand) Co Ltd, which is 51% owned by a Thailand company, with THC BioMed owning 49% of which 9% is held in trust by THC BioMed for an arm’s length party. After becoming the first Southeast Asian country to legalize medical cannabis in 2018, Thailand decriminalized recreational cannabis in 2022.
THC Thailand’s THC2Go dispensary, located in the vibrant city of Rawai, Phuket, offers an extensive selection of top-tier medical cannabis products. The company grows all its strains organically onsite at its indoor farm in Phuket, with the purest of nutrients and without the use of pesticides or other exogenous chemicals, with the buds hand-grown and hand-picked.
John Miller, President and CEO, stated: "We are thrilled with the opening of our state-of-the-art THC2GO medical cannabis dispensary in Thailand. This expansion underscores our unwavering commitment to making a positive impact on global healthcare. We are dedicated to serving patients, fostering research initiatives, and driving the medical cannabis movement forward in Thailand."
Following the company's shift to edibles and drinks as its main products, which involves a more streamlined production process, it is now offering available grow space at its licensed facility in Kelowna’s Akland Road business park with some units earmarked to be sold as commercial units. This space will be leveraged to offer turnkey operations to micro-producers, who will benefit from the company's existing license, in-house processing, and established distribution networks. THC BioMed will also assist these new micro-producers in applying for a B.C. farmgate license, facilitating non-medical cannabis product sales from stores located at cultivation sites.
John Miller, President and CEO, added: "Transitioning to edibles and drinks, coupled with our Clone Shipper sales, we now have space to accommodate a few micro-producers. This new direction allows us to contribute to the growing trend toward micro-producers in the Canadian cannabis market, aiding newcomers in navigating market entry barriers."
Earlier this year, the company started sales and export of its patented Clone Shipper containers to Asia. The innovative Clone Shipper container’s patented design enables plants, especially clones or young plants, to be shipped safely while nurturing the plant in the growing process. The reusable container, built to last for multiple shipments, comes with a new opaque lid and an LED light, designed to last for a minimum of 100 hours. The virtually indestructible container is manufactured in North America and can be purchased online at www.CloneShipper.com or in Asia through THC BioMed Thailand.
THC BioMed was first licensed to deal with cannabis in 2013 and has been a Licensed Producer since 2016.
The shares are currently trading at $0.03. For more information, please visit www.THCbiomed.com, contact John Miller, President & CEO, at 1-844-842-6337 or email info@THCbiomed.com.
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