The Hydroponics Company Ltd (ASX: THC) share price was a big mover on Thursday.
The diversified cannabis company's shares finished the day 8% higher at 80 cents. This brought it one-month return to an impressive 167%.
What happened?
Thursday morning the company announced that it has reached a licensing agreement with National Access Cannabis, Canada's best practices leader in delivering secure, safe, and responsible access to legal medicinal cannabis.
According to the release, the agreement provides a transfer of technology, knowledge, and intellectual property for ten years in Australia and New Zealand, with a further option to extend the contract by ten more years.
It also provides Hydroponics Company with a first right of refusal option to develop into Asia as the market matures.
Management believes that the processes and care that National Access Cannabis has developed for its patients has a real and exciting place in the Australian marketplace. Judging by the market reaction on Thursday, some investors appear to agree.
