THC.CSE THCBF – OTC TFHC.F
Vancouver, B.C. – (February 6, 2020)
THC BioMed Intl Ltd.(CSE: THC), (“THC” or the “Company“) announces its intention to commence a normal course issuer bid (“NCIB”), to purchase up to an aggregate of 7,977,152 common shares (the “Common Shares”), representing 5% of the issued and outstanding common shares as of the date of this release.
“This share buyback shows our confidence in the company. Our positive growth isn’t reflected in our current share price. Management believes in the continued growth prospects of this company and wants to take this opportunity to repurchase shares,” said John Miller, President and CEO of THC.
THC continues to develop the proposed products THC Kiss beverage and Pure Cannabis Sticks. The THC Kiss beverage is currently undergoing stability testing, as required by regulations, and the production room for the Pure Cannabis Sticks is awaiting Health Canada approval. THC intends to release these products within the next three to six months but cannot provide any assurances that this will happen.
Pursuant to the NCIB, the Company may, if considered advisable, purchase the Common Shares through the facilities of the Canadian Securities Exchange (“CSE”) and/or alternative trading systems, from time to time over the next 12 months.
Purchases may commence through the CSE and/or alternative trading systems on February 12, 2020 and will conclude on the earlier of the date on which purchases under the bid have been completed or February 12, 2021. All Common Shares purchased by the Company will be cancelled. The Company has appointed PI Financial Corp. to coordinate and facilitate its NCIB purchases.
THC BioMed is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. THC BioMed is Canada’s largest supplier of legal cannabis genetics. The Company is on the leading edge of scientific research and the development of products and services related in the medical cannabis industry. Management believe THC BioMed is well-positioned to be in the forefront of this rapidly growing industry.
President and CEO: John Miller
THC Biomed Intl Ltd.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC. Forward-looking information is based on certain key expectations and assumptions made by the management of THC. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although THC believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and include that (a) THC will purchase up to an aggregate of 7,977,152 common shares (the “Common Shares”) between February 12, 2020 and February 12, 2021, (b) THC will release THC Kiss beverage and Pure Cannabis Sticks within the next three to six months or at all and (c) THC will be in the forefront of this rapidly growing industry.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.