THC BioMed Intl Ltd. has amended its licence to authorize the sale of cannabis extracts, topicals and edibles.
The Canadian market for cannabis edibles, topicals and extracts is worth an estimated $2.7 billion per year, with edibles representing more than half that amount, according to a report from Deloitte in May 2019. This spending is expected to be in addition to the approximately $6 billion estimated domestic market for recreational and medical cannabis.
While Health Canada has indicated that sale of these newly legalized products will not be made available to the public until at least mid-December, THC has completed renovations of their flagship Acland Road location to enable production of these products. THC BioMed now has a total of 22 strata lots licensed for production.
THC BioMed expects to start building inventory soon and looks forward to being able to provide the same high quality products to customers in extract, topical and edible form.