In the last trading session, the stock price of THC Biomed International Ltd. (OTCMKTS:THCBF) declined more than 9% to close the day at $0.383. The decline came at a share volume of 28,205 compared to average share volume of 58,948.
In December 2016, THC Biomed reported several new developments pertaining to its new, amended approval from Health Canada, the release of its revamped site, the development of its facilities and changes in its effort with Supra Research and Development Inc.
During the same month, Health Canada granted company an amendment to its permit to allow THC Biomed to sell “Starting Materials”, implying marihuana crops. The company commenced offering marihuana crops to legally authorized people under the ACMPR.
THC management is extremely thrilled to start supplying registered people with much required starting materials in the way of clones. They priced starting material at $20 per Clone, plus shipping and packaging.
THC Biomed reported that it has structured its pricing to showcase its mandate of offering patients with accessibility to medical cannabis. Now that with license amendment, the company has commenced its expansion plans. It has already commenced structure on the expansion that will comprise 8 additional grow rooms and 2 new vaults.
The license was further modified to allow company’s team of scientists to perform in-house analytical testing. This will enable them to perform testing for R&D purposes. With its current facilities, staff and equipment, THC Biomed is able to perform its own R&D. Because of this, they were able to settle with Supra that the Joint Venture Deal, previously reported on March 22, 2016, could be canceled. The deal was canceled in last December.
THC Biomed new site has been redeveloped, turning it easy for people to order its products. The management look forward to serving people with the best genetics.
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