In Thursday’s marijuana news, Canadian ACMPR Licensed Producer THC Biomed Intl Ltd. (CSE:THC)(OTC:THCBF) announced that its been granted a license from Health Canada to sell dried marijuana. Now, this is typically bullish news, but usually not this bullish. In mid-day trading today, THC Biomed shares increased over a75% (yes, we meant 75%) on both the Canadian Securities Exchange (CSE) and the US OTC Markets. So, why is the market reacting so well to today’s news — and what does it mean for its stock price going forward? Read on to find out!
But first, some quick background info on THC Biomed. THC Biomed has been licensed by Health Canada to produce medical marijuana pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR) — Canada’s federal medical marijuana program, since February 18, 2016. For a year or so, THC Biomed has been licensed to start selling materials, i.e. seeds, and/or young plants to patients wishing to grow medical marijuana and newly licensed LPs.
The company is well known for their starting materials business — not many LPs offer starting materials, according to Health Canada. Only 10 of 54 currently-licensed producers sell starting materials — due to THC Biomed owning a unique technology for shipping plants in a manner that ensures optimal health.
In May, THC Biomed closed its acquisition of Clone Shipper LLC — a steal at $1 million. The company developed a game-changing method for shipping live plants that incorporates a mini LED light to help plants continue flourishing, even while enduring harsh conditions associated with transportation. Not just for cannabis, Clone Shipper (see video below) is revolutionizing how plants are shipped. Hence, the days of sad-looking live herb are gone. Great marijuana news if you ask us.