2018-02-15 09:07 ET - News Release

Mr. John Miller reports

THC ANNOUNCES LETTER OF INTENT TO PURCHASE FARM AND GREENHOUSES IN THE NIAGARA AREA IN THE PROVINCE OF ONTARIO

THC Biomed Intl Ltd. has entered into a letter of intent to purchase a farm and greenhouses on approximately 8.5 acres in the Niagara region in Ontario. THC previously announced its intention to pursue this opportunity on Dec. 20, 2017.

THC intends to add this new property in Ontario to its licensed facilities in British Columbia for the licensed production of cannabis. The new property has approximately seven acres of growing space, including 70,000 square feet in the greenhouses. Irrigation equipment and all equipment and supplies necessary for the operation of the greenhouses are included in the purchase.

One of the vendors of the property has agreed to stay on as a consultant, bringing his 32 years of expertise as a farmer in this region to bear for THC's crops. There is a farmhouse on the property, which the vendors intend to rent from THC at market rates.

The parties intend to enter into a formal asset purchase agreement. The completion of the acquisition is subject to standard real estate purchase conditions and the approval of the Canadian Securities Exchange.

"THC is excited to be expanding into Ontario," said John Miller, president and chief executive officer of THC. "By combining THC's top-grade genetics and scientific knowledge, we intend to grow the best cannabis on this Niagara property, using local farming expertise in a turnkey production facility. We are positioning ourselves and look forward to supplying the province of Ontario with our top-grade cannabis once recreational cannabis is legal."

About THC Biomed Intl Ltd.

THC's vision is to be on the leading edge of scientific research and development of products and services related to the medical cannabis industry while creating a standard of excellence. As the industry develops, it will become more important to focus on scientific research and development of products and services related to medical cannabis. Management believes THC is well positioned to be in the forefront of this rapidly growing industry.

We seek Safe Harbor.