THC Biomed International Ltd. (OTCMKTS:THCBF) Finalizes Definitive Deal To Buy Clone Shipper
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THC Biomed International Ltd. (OTCMKTS:THCBF) has entered into a deal to buy Clone Shipper LLC in a deal valued at $1 million. Clone is a U.S. based firm, specializing in packaging offerings for the transport of living marijuana crops. THC is presently the sole Canadian supplier for Clone Shipper offerings and has now finalized a deal to acquire Clone Shipper itself.
The details
As per Canadian regulation, patients can either cultivate medical marijuana themselves or buy it from an approved producer. Licensed producers and patients must buy their live plants from legally permitted sources. John Miller, the CEO and President of THC Biomed, reported that they consider that Clone is the only container on the industry that meets the U.S., Canadian and global laws regulating the transportation of live cannabis crops.
With the changing international attitude towards medicinal cannabis and the growing demand for legal live plants, they expect an increased need for obtain packaging to boost the transportation of live cannabis crops. Clone Shipper is reputable in the U.S.A and is placed to be a pioneer in the packaging of live cannabis crops globally.
As per the Health Canada website, out of the 38 LPs, only 4 provide Starting Materials. THC Biomed considers that buying Clone Shipper will permit it to rule the Canadian industry for Starting Material containers and in the United States and globally, when and if it is approved in those markets.
Following the purchase and sale deal executed between THC Biomed and Clone Shipper, the former will pay $1 million for the acquisition of 100% of the issued and due securities of Clone Shipper. Post completion of the deal, Clone Shipper will be the 100% owned subsidiary firm of THC. Clone Shipper offerings are available for sale on company’s official website. They can also be bought from the gardening supply outlets across the United States and Amazon.com.
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