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Monday, Sep 26, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

The weed wire

First offering of THC Kiss beverage shot sells out ‘within hours’

The 30 mL, 10 mg drinkable is marketed as the first ‘true alternative’ to smoking weed

First offering of THC Kiss beverage shot sells out 'within hours'

The first offering of a new quick-onset, small volume beverage shot called THC Kiss was cleared off virtual shelves in short order.

On Friday, THC BioMed Intl Ltd. (CSE: THC) said the shot launched on the BC Cannabis Stores website and sold out within hours. A second in-province order is being prepared, the B.C.-based company said in a statement.

A BCCS representative confirmed the statement, but was unable to provide information on the quantity of units sold. Mugglehead has reached out to THC BioMed to confirm the number of units.

Company stock rose by 5 per cent to $0.22 on the Canadian Securities Exchange.

In a previous statement, the company claimed that its THC Kiss offers a different experience compared to edibles and beverages currently available in the legal or grey markets.

Read more: THC BioMed brings ‘true smoking alternative’ beverage shot to market

According to THC BioMed, its beverage shot is intended to be an alternative to smoking weed and was developed by the company using proprietary extraction methods. Each 30 millilitre bottle of THC Kiss contains 10 milligrams of THC.

“We are very happy with the launch of THC Kiss so far and excited to offer Canadians a true alternative to smoking cannabis,” president and CEO John Miller said in Friday’s statement.

In addition to the product launch, the firm says it’s entered into a reseller agreement with National Cannabis Distribution, where the distributor will buy and resell weed products from THC BioMed as one of two exclusive resellers in Saskatchewan. The agreement is for a one-year term that will automatically renew unless terminated.

“National Cannabis Distribution has impressed us with its distribution network and business methods,” Miller said. “We appreciate that it recognizes the quality and uniqueness of our products and has selected us as a supplier.”

Top image via THC BioMed

 

nick@mugglehead.com

@nick_laba

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