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.