From this date it will be legal for adults in Canada to purchase, possess, or grow recreational cannabis, a move welcomed by THC, which intends to be renamed THC Global Group Limited.
The new Canadian policy will allow the company to expand its addressable market as part of its ‘Farm to Pharma’ strategy.
THC global CEO Ken Charteris commented from Canada, “This is a historic time to be in Canada, on the eve of legalisation of recreational cannabis.”
Canada is subsidiary’s principal market
THC’s wholly-owned subsidiary, Crystal Mountain, manufactures and distributes hydroponic equipment and supplies, with Canada being its principal market.
Crystal Mountain has expanded its warehouse complex and product range to meet expected demand resulting from the legalisation of recreational cannabis.
Crystal Mountain’s expanded facility in British Columbia, Canada.
“Whilst our focus remains on revenue generation from our global medicinal cannabis operations, our expanding presence in the Canadian market through Crystal Mountain and our partners will enable us to take advantage of the broadening of the Canadian market,” Charteris said.
“THC Global has a vertically integrated strategy, providing both the means to grow cannabis to micro-cultivators and home-growers from Crystal Mountain with a view towards selling cannabis products into the Canadian market.”
Duo promoting THC in Canada
Charteris and Crystal Mountain’s global head Jason Colquhoun are in Canada to promote THC to the investment community and to further develop strategic alliances across its cannabis and hydroponics businesses.
THC’s various partnerships and alliances provide the company with market access to Canada in the medicinal and recreational cannabis sectors and through hydroponics equipment.
The letter is expected to be in high demand, driven by the multitude of new micro-cultivator and home-growers in Canada.
As part of embracing the new opportunities, Crystal Mountain will launch a new website and undertake a corporate rebranding to target Canada’s micro-cultivator and home-grower markets.
THC is also incorporating a new subsidiary, Vertical Canna Inc, which will be used as an investment and operations entity for the company’s expanded Canadian operations over the coming months.
Colquhoun said, “We are excited to be able to expand our operations to take advantage of this new opportunity in Canada.
“Combined with the launch of our new website and additional focus towards the micro-cultivator and home-grow markets, we expect to see great results over the coming quarters.”
THC is a diversified global medical cannabis business that is vertically integrated from ‘farm to pharma’.
The integration begins with a growing site in northern NSW and a growing, research and development facility in Queensland.
It then flows through to an industry-leading biopharmaceutical manufacturing facility ready for pharma-grade production.
Finally, THC has established international commercial partnerships with global industry leaders across Europe, Middle East, North America and Australia.