THC BioMed Intl Ltd. (CSE: THC), is pleased to announce that it has entered into a License Agreement with technology company InterNexusMedia Ltd. for use of its new CROPOS software solution in retail Point of Sale transactions as well as to manage compliance in record keeping, reporting, inventory, customer validations, and sales limits across multiple future THC2GO and other retail cannabis outlets. 

THC will receive a royalty of 3% on all revenue collected from the sales of the new Cannabis Regulatory Operations Point Of Sale (CROPOS) product to third parties up to the earlier of receipt by THC of $100,000 from the royalty or December 31, 2028.

THC has purchased 15 Licenses from the technology company at a discounted rate, for a total of $30,000.  Other fees may be charged to THC for potential website development and additional licenses, if required.

“We are supporting InterNexusMedia Ltd. because we have had good results from their CROPSoft solution for THC BioMed and believe that their retail CROPOS solution will be equally as beneficial for THC2GO’s future in the event that recreational and retail marijuana sales become a reality in Canada,” said John, Miller, President and CEO of THC, “The discounted licensing combined with the royalty could make it a very worthwhile investment in addition to being useful technology for our business.”

About THC

THC is an ACMPR Licensed Producer and Canada’s largest supplier of legal Cannabis Genetics. THC also produces and sells dried and fresh marijuana and cannabis oil for medical purposes. THC is on the leading edge of scientific research and the development of products and services related to the medical cannabis industry. Management believes THC is wellpositioned to be in the forefront of this rapidly growing industry.