THC Biomed Intl Ltd. (THCBF)

[oatsuzn]

THC Announces THC2GO DISPENSARIES and Closes Ninth Tranche Private Placement with Alumina

http://thcbiomed.com/thc-announces-thc2go-dispensaries-and-closes-ninth-tranche-private-placement-with-alumina/

Vancouver, British Columbia – (November 20, 2017) THC BioMed Intl Ltd. (CSE: THC), (“THC” or the “Company”) announces the creation of THC2GO Dispensaries. THC, through its wholly-owned subsidiary “THC2GO Dispensaries”, has begun the application process to become a cannabis retailer in Manitoba. THC2GO Dispensaries also intends to apply for retail outlets in each Canadian province that permits private cannabis retail outlets.

THC also completed an additional draw down of $400,000 under its previously announced investment agreement with Alumina Partners (Ontario) Ltd. (“Alumina”). The Company issued to Alumina 666,666 units (“Units”) at a price of $0.60 per Unit, for total proceeds of $400,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company for a period of 36 months from closing at a price of $0.9375 per share.

The proceeds raised through the private placement will be used towards expanding THC’s facilities and general working capital.

This brings the total raised through the Alumina private placements to $2,200,000.