Mr. John Miller reports

THC BIOMED INTL LTD. CLOSES SALE ON STRATA UNIT IN KELOWNA, B.C.

THC Biomed Intl Ltd. has sold a strata unit at its Acland Road location in Kelowna, B.C., realizing a substantial transaction value of $490,000 in Canadian dollars.

The effective date of the closing is Jan. 18, 2024. A total of $18,007.50 was paid in real estate commissions. GST was also payable on the proceeds. The buyer was an arm's-length party.

The proceeds from this sale will be strategically allocated to various aspects of the company's financial structure. Primarily, a portion will be used to pay down existing mortgages, fulfilling the company's commitment to sound financial management. Additionally, funds will be allocated to cover taxes and necessary commissions associated with the transaction.

The remaining balance will play a crucial role in enhancing the company's financial position by addressing debts and contributing to its working capital. This strategic allocation aims to fortify THC Biomed's financial foundation, positioning us for continued success and growth.

About THC Biomed Intl Ltd.

THC Biomed is a leading cannabis company dedicated to producing high-quality, diverse cannabis products. With a focus on innovation and consumer satisfaction, THC Biomed strives to meet the evolving needs of cannabis enthusiasts through continuous research, development and product excellence.

We seek Safe Harbor.