Vancouver, British Columbia – (February 15, 2018) Canada’s largest supplier of legal Cannabis Genetics, THC BioMed Intl Ltd. (CSE: THC), (“THC” or the “Company”), announces that it has entered into a Letter of Intent to purchase a Farm and Greenhouses on approximately eight and a half acres in the Niagara region, Ontario. THC previously announced its intention to pursue this opportunity on December 20, 2017.
THC intends to add this new property in Ontario to its licensed facilities in B.C. for the licensed production of cannabis. The new property has approximately seven acres of growing space, including seventy thousand square feet in the greenhouses. Irrigation equipment and all equipment and supplies necessary for the operation of the greenhouses are included in the purchase.
THC is also pleased to announce that one of the Vendors of the property has agreed to stay on as a consultant, bringing his 32 years expertise as a farmer in this region to bear for THC’s crops. There is a farmhouse on the property, which the Vendors intend to rent from THC at market rates.
The parties intend to enter into a formal asset purchase agreement. The completion of the acquisition is subject to standard real estate purchase conditions and the approval of the CSE. “THC is excited to be expanding into Ontario,” said John, Miller, President & CEO of THC, “By combining THC’s top grade genetics and scientific knowledge, we intend to grow the best cannabis on this Niagara property, using local farming expertise in a turnkey production facility. We are positioning ourselves and look forward to supplying the Province of Ontario with our top grade cannabis once recreational cannabis is legal.”
THC’s vision is to be on the leading edge of scientific research, development of products and services related to the medical cannabis industry while creating a standard of excellence. As the industry develops, it will become more important to focus on scientific research and development of products and services related to medical cannabis. Management believes THC 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
President and CEO: John Miller THC Biomed Intl Ltd. T: 1-844-THCMEDS E: firstname.lastname@example.org
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of 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. 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 and include that: (a) THC will purchase a Farm and Greenhouses in Ontario and that the property will be as described; (b) THC will add this new property in Ontario to its licensed facilities in B.C. for the licensed production of marihuana; (c) one of the Vendors will stay on as a consultant, and will rent the farmhouse at market rates; (d) the parties will enter into a formal asset purchase agreement; (e) THC will grow great product on this property; (f) THC will be on the leading edge of scientific research, development of products and services related to the medical cannabis industry while creating a standard of excellence; (g) it will become more important to focus on scientific research and development of products and services related to medical cannabis; and, (h) THC will be in the forefront of this rapidly growing industry.
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.