VANCOUVER, British Columbia, Jan. 28, 2022 (GLOBE NEWSWIRE) -- THC BioMed Intl (CSE:THC) (OTCQX:THCBF) (FSE:TFHD), one of Canada’s oldest licensed producers of medical and recreational cannabis, has been granted a license by an overseas government to cultivate cannabis for medical and scientific use. With its cultivation and production based in Kelowna, B.C., including a proprietary extraction system, THC was first licensed to deal with cannabis in 2013 under a Health Canada Section 56 exemption under the Controlled Drugs and Substances Act and has been a Licensed Producer under the current regime since 2016.
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The company’s product focus is on high-quality, high-potency products including dry flower, edibles, beverages, pre-rolls along with a number of genetic strains which it sells to Canada’s medical and recreational cannabis markets.
John Miller, President and CEO, stated: “Since March 2020, we have been looking into the possibilities and challenges of carrying out an R&D program in relation to cannabis and SARS-CoV-2. We are currently in advanced talks with the host government and received, on January 19, 2022, a license for the production of cannabis for medical and scientific use. We intend to conduct scientific research and development on whether CBD and other compounds from the cannabis plant have the potential to prevent or inhibit SARS-CoV-2 infection. Other scientific research regarding cannabis is also of interest to us.”
There have been a number of studies that show that CBD might help prime cells against COVID, which of course, will require further testing and peer review.
Management is now seeking amendments or clarification on its new license regarding whether additional permission is required for the conduct of its planned scientific testing and cautions there is no guarantee that the research and development it intends to conduct will be allowed under the current license or that a further license for research and development, if needed, will be granted.
The shares are currently trading at $0.075. For more information, please visit www.THCbiomed.com, contact John Miller, President & CEO, at 1-844-842-6337 or email info@THCbiomed.com.
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