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.