Change of Name to THC Global Group Limited
Sydney, Nov 22, 2018 AEST (ABN Newswire) - THC Global Group Limited (THC Global or the Company) (
ASX:THC) (HDRPF:OTCMKTS) is pleased to advise that the Company's name has changed to THC Global Group Limited, from The Hydroponics Company Limited.
The ASX code "THC" remains unchanged.
The change of the Company name was approved by shareholders at the Extraordinary General Meeting held on 15 November.
Shareholders supported the directors when considering the new name, which better reflects the strategic developments in the business, the importance of advancing established global operations and international partnerships and recognises the significant value THC Global is now creating and into the future, across both medicinal and recreational cannabis markets.
THC Global believes the new name also captures the growth objectives and direction for the Company as a leading medicinal cannabis business with tier one growing and manufacturing capacity in Australia and ability to supply and expand internationally.
THC Global will continue to expand its Vancouver-based revenue generating hydroponics division (Crystal Mountain), which sells equipment and growing mediums, while accelerating the build out of its medicinal cannabis growing and manufacturing facilities under its 'Farm to Pharma' pharmaceutical model.
About THC Global Group Limited
THC Global Group Limited (ASX:THC) (OTCMKTS:HDRPF) (FRA:9TH) operates under a 'Farm to Pharma' pharmaceutical model, now holding all three key cannabis licences being a Cannabis Research Licence, a Medicinal Cannabis Licence (Cultivation), and a Manufacture Licence through its domestic medicinal cannabis subsidiaries THC Pharma and Canndeo. THC Global has secured a significant cannabis growing capacity over multiple cultivation projects and owns a pharmaceuticals bio-manufacturing facility with attached testing and product development laboratory. THC Global is in prime position to commence medicinal cannabis production to service both domestic patients and the global export market. THC Global is active globally with operations in Australia, New Zealand, and Canada and partnerships across Europe, Asia, and the Middle East. In addition to its core Australian medicinal cannabis assets, THC Global has a significant Canadian presence – both in cannabis and in hydroponics equipment. THC Global's Canadian cannabis operation, Vertical Canna, holds property in Nova Scotia, Canada being developed into a large scale cannabis production site. THC Global's hydroponics equipment division, Crystal Mountain, is a revenue generating manufacturer, wholesaler, and retailer of hydroponic equipment and supplies.
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