Canadian Cannabis Producer to Buy Clone Shipper for $1,000,000

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Clone Shipper, which we reported earlier this year had raised $300K through members of the Arcview Group, has signed a letter of intent to sell itself to Canadian licensed producer THC Biomed (CSE: THC) (OTC: THCBF). THC Biomed, which received its cultivation license earlier this year, isn’t yet selling cannabis to medical patients directly, but it intends to offer 29 different strains at $4.20 per gram. It will be selling propagated starting material to other LPs and to researchers, which explains the strategic rationale of the purchase of Clone Shipper. The company also has an investment in Supra and will be providing analytical services, including testing.

According to THC Biomed, “Clone shipper is currently the only device that meets Canadian and Federal International laws governing the transportation of controlled live plants.” The company will be investing in strengthening the product’s patent protection. The acquisition of Clone Shipper marks the company’s entry into the international cannabis market as well.

 

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Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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