VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 16, 2015) - THC BioMed Intl Ltd. (CSE:THC)(FRANKFURT:TFHC)(OTC PINK:THCBF) ("THC enters LOI to purchase Health Canada Licensed Cannabis Testing Laboratory"). ("Applies for supplementary license to Produce and sell fresh marijuana and cannabis oil")
As the industry expands into the supply of derivatives, the demand for Analytical testing services and contract research will increase substantially. We forecast exponential growth in this sector, with greater potential, should legalization and regulation of the recreational Cannabis market come into effect.
Supra Research and Development has an existing Dealer's license from Health Canada for the possession of Cannabis and related active ingredients and well as the production of extracts for the purpose of analysis.
THC BioMed is very pleased to announce the signing of an LOI to purchase Supra Research and Development s Cannabis related business .All Supra Research and Developments Cannabis related Intellectual property, instruments and Licence will be transferred to a newly formed company "Supra THC Services" of which THC BioMed will own 80 % for a total consideration of 250 000 shares and $600 000 in cash on conditions that Supra Research and Development achieves certain milestones.
This unique synchronization of these two State of the Art Laboratories gives THC the edge it requires in becoming a leader in Cannabis Scientific Research, Analysis and Development. The closeness in proximity of the labs coupled with the synergizing of scientists and instruments has created a world class testing and research facility.
"It is mandatory to conduct analytical testing of dried marijuana or derivatives for microbial and chemical contaminants, along with determining the percentages of delta-9-tetrahydrocannabinol and Cannabidiol. We are very proud in achieving this milestone of creating a Word class licenced 3rd party Cannabis Scientific Research, Analysis and Development Laboratory .I am excited at the opportunity to have capture one of the very few Cannabis Dealers Licences in Canada and look forward to generating profitable revenue from this Vertical."
"Our shareholders remain our biggest asset and we take this opportunity to thank them for entrusting us in bringing growth to THC. We will continue to work diligently to bring real value for our shareholders." Commented John Miller THC BioMed Intl CEO.
We are also pleased to announce the following updates with our application to become licensed producers under the MMPR. On the 19th July 2015 THC Biomed LTD applied for a supplementary license to produce and sell fresh marijuana and cannabis oil. Subsequently on the 20th August 2015, as previously announced, a 2nd Pre licensing inspection was conducted by Health Canada Regions and Programs Bureau that included our Division 3 CO2 oil production Laboratory. We are not aware of any deficiencies and wait for the final processing of our application to become a Licenced Producer. Should we be granted a license, we intend to provide cannabis oil, capsules and similar dosage forms including dried Marihuana.
About Supra THC Services
Supra THC Services Inc., was formed when the founder of the Supra Research and Development Inc. transferred all of Supra's infrastructure, analytical instrumentation, intellectual property, licenses and expertise relating to Cannabis into the new corporate structure. Supra Research and Development has an existing Dealer's license from Health Canada for the possession of Cannabis and related active ingredients and well as the production of extracts for the purpose of analysis. The scientific team at Supra have extensive expertise relating to chemical analysis and analytical instrumentation, especially Mass Spectrometry based approaches. The team has also developed innovative new approaches to chemical extraction of biomass and new approaches to chemical analysis of THC. It also brings experience securing research grants from a variety of government sources, including NSERC, MITACS and SR&ED.
Dr. Rob O'Brien holds a PhD from Carleton University and was a professor in Analytical Chemistry for over 13 years and has greater than 25 years' experience in analytical chemistry. He is currently an Adjunct Professor at Thompson Rivers University and President of Supra Research and Development. He is an expert in analytical instrumentation and has set up a number of advanced analytical laboratories. Supra Research and Development was the first spin off company from the UBC Okanagan campus and was initially created to commercialize innovative biomass extraction technology. Dr. O'Brien has secured over 3 Million dollars in research grants and has an extensive network of research collaborators.
Anderson Smith is the Chief Operations Officer at Supra Research and Development. He has been involved in the instrumentation industry for 10 years in several critical roles, notably Instrumentation Service Manager and Business Development director for one of Canada's largest instrument vendors. Prior to joining the instrumentation industry, Anderson was a primary analyst in a major analytical contract lab. He has recently developed extensive expertise in Laboratory Information Management Systems (LIMS) and in securing laboratory certifications.
THC BioMed Scientific Team;
PhD. Food Science and Technology
PhD. Plant Tissue Culture
B.Sc. Biology /Plant Science
For a list if instruments and further information please visit www.suprathc.com.
THC's vision is to be on the leading edge of scientific research and 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.
This press release contains certain "forward-looking information" within the meaning of applicable securities law. The forward looking statements include that (i) (ii) As the industry develops, it will become more important to focus on scientific research and development of products and services related to medical cannabis. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. These statements are based on expectations and assumptions made by the management of THC at the date the information is provided, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward looking information. For a description of the risks and uncertainties facing THC and its business and affairs, readers should refer to THC's Listing Statement, Financial Statements and its Management's Discussion and Analysis on www.sedar.com.