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WeedMD 06/11/2019

WeedMD Provides Corporate Update and Schedules Q3 2019 Earnings Call for November 29th

WeedMD is pleased to announce the completion of its inaugural outdoor harvest and that CX Industries has entered into commercial operations in Aylmer, Ontario. The Company will also be releasing Q3 earnings on Thursday, November 28, 2019 followed by a conference call with management on Friday November 29, 2019 at 10 a.m. Eastern Time.

Details below, with full press release here.

Outdoor Harvest Details

The harvest of its 27-acre field is now complete. As WeedMD is now well into the post-harvest process, the Company plans to provide metrics, including total yield, alongside its earnings announcement later this month.

Ongoing Test Results

To date, the Company has submitted 15 outdoor-cannabis samples for initial testing and reported results are in compliance with specifications for heavy metals and Health Canada’s requirements for mandatory cannabis testing for pesticide active ingredients. WeedMD looks forward to providing details including test results for cannabinoid contents, strain yields and market availability of its outdoor-cultivated cannabis, which includes some of its signature strains such as Pedro’s Sweet Sativa, Ghost Train Haze, ACDC and Ultra Sour as well as some new cultivars.

CX Industries Enters Commercial Operation

WeedMD also confirmed that its newly-installed Vitalis Q-90 CO2 extractor has entered commercial operations at its Aylmer, Ontario site. Read about CX Industries launch here.

CX Industries Processing Capability

With the commissioning of its first extractor, CX Industries is equipped to process 26,000 kgs of biomass annually. A second Vitalis-manufactured Q-90 extractor, engineered for high CO2 thorough-put efficiency will be installed in the coming month followed by two more extractors in 2020. At peak production, CX will have the capability to extract 200,000 kgs of biomass annually.

Health Canada Licensing

The Company confirms it is one of 43 licensed holders – out of 245 licence holders under the Cannabis Act – to secure an amended licence to produce and sell concentrates, edibles and topicals from its Aylmer facility. WeedMD and CX Industries plan to release new cannabis 2.0 product formats to Canadians as early as January 2020 across a number of brands.

Release of Q3 Financials & Earnings Conference Call

The Company will release its quarterly financials after market close on Thursday, November 28, 2019 followed by a conference call with management on Friday November 29, 2019 at 10 a.m. Eastern Time to report its Q3-19 financial results and operational outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO. Call-in details will be published in the coming weeks.

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