Subject: News Release - please disseminate immediately for THC BioMed Intl Ltd.
PDF Document
File: Attachment THC NR - sale of strata units_Feb 12 2025.pdf
THC BIOMED INTL LTD.
P.O. Box 20033 Towne Centre
Kelowna, B.C. V1Y 9H2
www.thcbiomed.com
THC BioMed Intl Ltd. Closes Sales of Strata Units
THC.CSE THCBF - OTC TFHD.F
Vancouver, Canada February 12, 2025 THC BioMed Intl Ltd. (the "Company") announces
that the Company, through its wholly owned subsidiary, THC Bio Med Ltd. Inc. (the "Subsidiary"),
sold four strata units in the Subsidiary's building located at 2550 Acland Road, Kelowna, British
Columbia. The closing of the sale of the four strata units was completed on December 27, 2024 for
an aggregate sale price of $1,400,000. Proceeds from the sale of the strata units were released on
January 7, 2025. The Company used $915,169.03 of the proceeds from the sales to pay for
expenses of the transactions: real estate commissions ($45,675), mortgage payout ($812,581.15),
property taxes ($40,354.56), real estate fees ($6,585.04) and accounting fees ($9,973.28). The
balance of the funds ($484,830.97) will be used by the Company to pay existing accounts payable
and to provide working capital.
The sale price was determined by market price and negotiation with the arm's length buyer. The
buyer was not a Related Person.
About THC BioMed:
THC BioMed is a leading Canadian cannabis producer dedicated to delivering high-quality cannabis
products to consumers nationwide. With a focus on innovation, sustainability, and customer
satisfaction, THC BioMed strives to set new standards in the cannabis industry through its
commitment to excellence.
For more information, contact:
John Miller, CEO
THC BioMed Intl Ltd. T: 1-844-THCMEDS E: info@thcbiomed.com
Forward-Looking Information:
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. In some cases, you can identify forward-looking statements using 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 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. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as required by applicable securities laws.
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.
Word Document
File: '\\swfile\EmailIn\20250212 163411 Attachment THC News Release - sale of 4 strata units_Feb 2025.doc'
THC BIOMED INTL LTD.
P.O. Box 20033 Towne Centre
Kelowna, B.C. V1Y 9H2
www.thcbiomed.com
THC BioMed Intl Ltd. Closes Sales of Strata Units
THC.CSE THCBF - OTC TFHD.F
Vancouver, Canada - February 12, 2025 - THC BioMed Intl Ltd. (the "Company") announces that the Company, through its wholly owned subsidiary, THC Bio Med Ltd. Inc. (the "Subsidiary"), sold four strata units in the Subsidiary's building located at 2550 Acland Road, Kelowna, British Columbia. The closing of the sale of the four strata units was completed on December 27, 2024 for an aggregate sale price of $1,400,000. Proceeds from the sale of the strata units were released on January 7, 2025. The Company used $915,169.03 of the proceeds from the sales to pay for expenses of the transactions: real estate commissions ($45,675), mortgage payout ($812,581.15), property taxes ($40,354.56), real estate fees ($6,585.04) and accounting fees ($9,973.28). The balance of the funds ($484,830.97) will be used by the Company to pay existing accounts payable and to provide working capital.
The sale price was determined by market price and negotiation with the arm's length buyer. The buyer was not a Related Person.
About THC BioMed:
THC BioMed is a leading Canadian cannabis producer dedicated to delivering high-quality cannabis products to consumers nationwide. With a focus on innovation, sustainability, and customer satisfaction, THC BioMed strives to set new standards in the cannabis industry through its commitment to excellence.
For more information, contact:
John Miller, CEO
THC BioMed Intl Ltd. T: 1-844-THCMEDS E: info@thcbiomed.com
Forward-Looking Information:
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. In some cases, you can identify forward-looking statements using 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 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. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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.
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