Toronto, Canada, September 15, 2020 – WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to provide a comprehensive update on its adult-use market initiatives to expand the market presence and share of its Color Cannabis and Saturday brands across Canada.
With the exclusive launch of renowned strain Black Sugar Rose, the introduction of a vaporization (vape) and pre-roll line, as well as new nitrogen-infused packaging, the Company is executing on its commercial growth plans.
“Since the beginning of the year, we’ve made great strides in accelerating our product innovation, further enhancing the market appeal of our Color and Saturday Cannabis brands, as well as expanding distribution to a discerning national consumer base that is ever evolving,” said Stephen Ng, Chief Commercial Officer of WeedMD. “With the introduction of an exclusive new strain, and new products, we are poised to continue delivering an unparalleled customer experience. We have the right team in place and are well-positioned to leverage our strengths and assets to accelerate our growth and deliver our highly-regarded products to consumers.”
Color Cannabis and Saturday will continue to leverage consumer-led insights to bring distinct products to market. WeedMD is well positioned for growth and is implementing a consumer-centric approach in its cultivation and production practices to capture consumer appeal in both retail and direct-to-patient markets via its wholly owned subsidiary Starseed Medicinal Inc.. With the upcoming outdoor harvest from its 27-acre field commencing this fall, WeedMD will be producing additional products at its extraction hub in Aylmer using low-cost, terpene-rich, cannabinoid-high biomass.
Information about upcoming corporate events including conference access and replays, where applicable, can be found here. Access WeedMD’s latest Investor Presentation here and Corporate Update Video here.
WeedMD Inc. is the publicly-traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., federally-licensed producers of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario as well as a fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator based in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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