THC BioMed breaks $1 million

Published on November 28, 2019 by David Wylie

Kelowna-based cannabis producer THC BioMed earned more than $1 million in revenue in the first three months of fiscal year 2020.

THC BioMed is one of the more affordable licensed producers, with an average price of $4.20 per gram to medical patients and recreational buyers, which is a bargain compared to other LPs.

“Our focus on high quality, indoor-grown cannabis at reasonable prices has made our cannabis a best seller,” says THC BioMed President & CEO  John Miller. “These results demonstrate the vision and abilities of our management team and we expect to continue this high level of performance going forward.”

The company has pulled some aces out of its sleeve over the past year:

  • It supplied “exclusive to BC” strains to the BC Cannabis Store;
  • had its licence amended by Health Canada to offer Cannabis 2.0 products, including its drink offering, THC Kiss;
  • submitted a new product application to Health Canada for ‘Pure Cannabis Sticks’— filtered smokes filled with cannabis; and,
  • expanded its grow capacity by acquiring more production space in Kelowna.