THC.CSE THCBF – OTC TFHD.F
Vancouver, Canada – July 18, 2023 – THC BioMed Intl Ltd. (“THC BioMed”) or (the “Company”), an industry front-runner in the Canadian cannabis market, has secured an amount of $425,000 in a mortgage loan.
The loan is a second mortgage on several of the Company’s strata units in Kelowna, B.C. Proceeds from the loan will be used to pay Company debts, property taxes and general working capital.
The loan will bear interest of 12.50% per annum, calculated monthly, not in advance, for a one year term.
As previously announced, the Company is in the process of offering some of its strata units for sale or lease to micro producers or as regular commercial units as part of its restructuring because space at its facility in Kelowna B.C. has been freed up following the Company’s shift to edibles and drinks.
About THC BioMed
THC BioMed Intl Ltd. is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. The Company is a pioneer in the cannabis industry, leading in scientific research and the development of products and services, with patient safety as a guiding principle.
For additional information about THC BioMed’s product lines or to stay updated on the Company’s latest developments, visit www.thcbiomed.com.
For more information, media inquiries, or partnership opportunities, please contact:
President and CEO: John Miller
About THC BioMed
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC BioMed. Forward-looking information is based on certain key expectations and assumptions made by the management of THC BioMed. Although THC BioMed 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 BioMed can give no assurance that they will prove to be correct.
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.