Lots of things going on at THC BioMed, with the company's license getting renewed by Health Canada until August 2026, and a new export agreement of at least 800 kilograms over the next two years to a distributor of pharmaceutical cannabis products in Germany and other parts of Europe.
License renewal
The license renewal allows THC BioMed to continue expanding its product lines, including THC Kiss, one of Canada's longest-standing cannabis beverages, and its portfolio of dried flower, pre-rolls, and clones. This renewal confirms THC BioMed's continued compliance with Health Canada's regulatory requirements and reinforces the company's commitment to providing safe, high-quality cannabis products to Canadian consumers.
"We are proud to have our license renewed by Health Canada, extending our ability to cultivate, process, and distribute cannabis products to August 2026," said John Miller. "This renewal underscores the integrity of our operations and our ongoing dedication to innovation, compliance, and providing Canadians with accessible cannabis options."
Export to Europe
Under the terms of the agreement, THC BioMed Ltd. will supply stabilized dried cannabis flowers, cultivated under GACP-Plus standards, to the Distributor for distribution in Germany and the European Economic Area (EEA). The agreement includes two exclusive strains, and the distributor will have exclusive distribution rights for these strains in Germany. The distributor commits to a minimum annual order quantity of 400 kg per year, split across shipments and strains based on mutually agreed forecasts.
© THC BioMed
Key features of the agreement include several aspects vital to its execution and management. Quality assurance will be ensured as THC BioMed will provide a Certificate of Analysis (CoA) for each shipment, ensuring compliance with stringent quality standards outlined in the agreement. Delivery terms specify that shipments will be delivered DAP (Incoterms 2020) to a GMP-licensed facility in the EEA, with THC BioMed bearing all risks and costs of transport. The payment structure involves the Distributor splitting payments into two installments: 50% pre-shipment and 50% post-inspection. Regarding defect and delay management, the Distributor retains the right to claim credits or cancel orders in case of delays or product defects, ensuring reliability and accountability. Additionally, regulatory compliance will be maintained as both parties ensure adherence to all necessary licenses, permits, and regulatory requirements for the import and export of cannabis products.
John Miller, CEO of THC BioMed Ltd., stated: "We are thrilled to partner with this distributor to bring our cannabis products to the European market. This agreement underscores our commitment to quality, reliability, and growth of the business." The agreement has a two-year term and is set to automatically renew for six-month periods after that, unless terminated by either party with prior notice.
For more information:
THC BioMed
Email: [email protected]
thcbiomed.com/
