WeedMD Inc.

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WeedMD is a Health Canada Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).

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WeedMD Inc.

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WeedMD is a Health Canada Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR)....

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8020 Admin

24 hours ago

8020 Admin posted a press release WeedMD to Hold Special Meeting of Shareholders on February 4th, 2020 at 10:00 a.m. to Finalize $25M Strategic Equity Investment in WEEDMD INC.


TORONTO, Jan. 20, 2020 (GLOBE NEWSWIRE) -- 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 confirm that a special meeting (“Meeting”) of shareholders (the “Shareholders”) of WeedMD will take place as scheduled on February, 4, 2020 at 10:00 a.m. (EST) at Fogler, Rubinoff LLP, located at TD Centre North Tower, Suite 3000, 77 King Street West, Toronto, Ontario.


The Meeting is being held in connection with the private placement of subscription receipts (the “Subscription Receipts”) with the LiUNA Pension Fund of Central and Eastern Canada (“LPF”) for gross proceeds of $25 million, which was completed as part of WeedMD's acquisition of Starseed Holdings Inc. ("Starseed").  Upon WeedMD receiving the requisite shareholder approvals at the Meeting, the Subscription Receipts will automatically convert into WeedMD common shares. Further details about the financing are contained in the Meeting information circular (the "Circular") which is available for download on WeedMD’s SEDAR profile here.


Shareholders as of the record date of December 30, 2019 will have the right to vote by proxy or in person at the Meeting. All Shareholder votes are important and each is encouraged to take the time to read the Circular and vote prior to the voting deadline of January 31, at 10:00 a.m. (EST).


In connection with the closing of the Starseed acquisition, WeedMD will be issuing 538,756 common shares to Stoic Advisory Inc. as consideration for financial advisory services provided to WeedMD.  In addition, upon completion of the $25 million equity investment, an additional 153,637 common shares will be issued to Stoic.


Access WeedMD’s investor presentation here and AGM corporate video highlights here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed:                                                                       


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://ca.linkedin.com/company/weedmd 
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/


Instagram: https://www.instagram.com/callitcolor/


&


Instagram: https://www.instagram.com/starseedca/


For further information, please contact:


For Investor Enquiries:
Stephen Ng
Chief Strategy Officer
Email: investor@weedmd.com


For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

5 days ago

8020 Admin posted a press release WeedMD Subsidiary Starseed Medicinal Signs LiUNA's London, Ontario Local to Medical Cannabis Program in WEEDMD INC.

Starseed is now the preferred medical cannabis supplier to five LiUNA Locals including London Local 1059’s 4,000 members through their health benefit plan


TORONTO, Jan. 16, 2020 (GLOBE NEWSWIRE) -- 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 announce that its newly-acquired subsidiary Starseed Medicinal Inc. (“Starseed”) has launched its full-service medical cannabis program as the preferred supplier of medical cannabis to  Labourers’ International Union of North America (LiUNA) Local 1059, headquartered in London, Ontario. The agreement provides approximately 4,000 members and their dependents with medical cannabis as a reimbursed benefit with no co-pay or out-of-pocket costs.


LiUNA is the largest construction union in Canada and LiUNA Local 1059 becomes the fifth LiUNA local to be onboarded onto Starseed’s medical cannabis program following launches in Toronto, Hamilton-Niagara and Windsor. Additional LiUNA locals are expected to join in 2020 along with other new insurance payor groups.


“Starseed’s full service medical platform – coupled with WeedMD’s medical-grade cannabis products - is revolutionizing the way Canadians access medical cannabis and we welcome LiUNA Local 1059 members to our program,” said Angelo Tsebelis, President of Starseed. “WeedMD and Starseed are improving fair and safe access to medical cannabis with an end-to-end service model that eliminates many of the practical and financial barriers associated with traditional ways of accessing cannabis as a medicine.” 


“It’s important to the Local 1059 Benefit Trustees that our 4,000 members have access to a broad and diverse range of medical therapies to suit their individual healthcare needs. Having the opportunity to collaborate with some of the most trusted names in medical cannabis was a key driver for entering into this agreement with Starseed,” said Brandon MacKinnon, Business Manager of LiUNA Local 1059. “Additionally, WeedMD has a strong reputation in our city and we’re looking forward to working with this local licensed producer to educate and facilitate medical cannabis access for our members.”


“We’ve kicked off the new year as a freshly integrated company and we’re thrilled at the many strategic business opportunities and partnerships that Starseed is bringing forward – perfectly aligned with our best-in-class cultivation program,” said Keith Merker, CEO of WeedMD. “As long-time supporters of our hometown London community coupled with our strong commitment to medical cannabis, we welcome LiUNA Local 1059 and look forward to the continued engagement with our local patient base.”


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/


Instagram: https://www.instagram.com/callitcolor/


 


&


Instagram: https://www.instagram.com/starseedca/


For further information, please contact:


For WeedMD Investor Enquiries:
Stephen Ng
Chief Strategy Officer
Email: investor@weedmd.com


For WeedMD Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


For LiUNA Media Enquiries:
Victoria Mancinelli
Director of Communications, Public Relations and Marketing
Tel: 1-289-681-1703
Email: vmancinelli@liunaopdc.org


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

29 days ago

8020 Admin posted a press release WeedMD Closes Acquisition of Starseed Holdings Inc. and $25 Million Subscription Receipt Financing in WEEDMD INC.

Company enhances management team & board of directors, announces new chair


TORONTO, Dec. 23, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, and Starseed Holdings Inc. (“Starseed”), a medically-focused, federally-licensed cannabis company, are pleased to announce the closing of the previously announced acquisition of Starseed Holdings by WeedMD (the “Acquisition”).


Concurrent with the closing, WeedMD also completed the previously announced private placement of subscription receipts (the “Subscription Receipts”) with the LiUNA Pension Fund of Central and Eastern Canada (“LPF”), for aggregate gross proceeds of $25 million. The issue price of each Subscription Receipt is $1.0832, and each Subscription Receipt shall be automatically exchangeable into one WeedMD common share upon its shareholders approving certain matters associated with the financing at a meeting scheduled for February 4, 2020.


“We officially welcome the Starseed team to the WeedMD family which together will kick-off 2020 as a very compelling, vertically-integrated cannabis company that will execute across the entire value chain,” said Keith Merker, CEO of WeedMD. “Starseed’s unique medical distribution platform complements WeedMD’s high-quality cultivation and processing platform. This partnership, along with the $25 million strategic equity investment by LPF, positions WeedMD and its shareholders with a fortified balance sheet and one of the most captive medical cannabis businesses in the country as we enter the new year.”


Management Team


Following today’s closing, Starseed’s management team, which brings extensive medical, operating, and financial expertise, in addition to strong industry and client relationships, integrates into WeedMD’s senior leadership team as follows:



  • Keith Merker, CEO (maintains role)

  • Angelo Tsebelis, formerly President of Starseed, assumes the role of President of WeedMD

  • Nichola Thompson, CFO (maintains role)

  • Stephen Ng, formerly CFO of Starseed, is appointed to Chief Strategy Officer of WeedMD

  • Dr. Peter Blecher, formerly Chief Medical Officer of Starseed, assumes the role of Chief Medical Officer of WeedMD


Additional information about WeedMD’s current management team can be found here.


Board Directors


In addition to the Starseed leadership appointments, WeedMD’s board of directors is now comprised of four representatives from WeedMD and three representatives from Starseed.


WeedMD is pleased to announce that seasoned industry leader George Scorsis is appointed as Executive Chair of its board of directors. For the last six months, Mr. Scorsis has served as executive advisor to the WeedMD board and leadership team and is widely recognized in the cannabis and beverage industries for building, leading and managing high-performing management teams.


WeedMD extends its gratitude to Michael Kraft who has served as Chair of its board of directors since the Company’s inception. As one of WeedMD’s co-founders, Mr. Kraft has been integral to its growth and success over the years and we are pleased he has accepted the role of strategic advisor to the board which includes the existing WeedMD directors:



  • Keith Merker, currently CEO of WeedMD

  • Gail Paech, formerly Associate Deputy Minister, Ministry of Health, Ontario

  • Michael Pesner, previously on the board of SAQ (Société des alcools du Québec),  and KPMG executive leader


WeedMD is pleased to welcome three new board directors from Starseed:  



  • Angelo Tsebelis, currently President of WeedMD

  • G. Edmund King, former CEO and Chairman of CIBC Wood Gundy

  • Dr. Hugh Scully, previously President of both the Ontario & Canadian Medical Associations


Additional information about WeedMD’s current board of directors can be found here.


The Company would also like to thank Rick Moscone and Kevin McGovern who have elected to step down following three years and one year of service, respectively.


Pursuant to the Acquisition, WeedMD acquired 100% of the issued and outstanding common shares of Starseed and in exchange Starseed shareholders received a total of approximately 71.8 million common shares of WeedMD. Certain shareholders of Starseed, holding approximately 49 million common shares of WeedMD, have agreed to an 18-month lock-up and leak out agreement.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed: 


Facebook
LinkedIn
Twitter
Instagram Weed MD
Instagram Color Cannabis
Instagram Starseed


For further information, please contact:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Posts Open Letter to Shareholders in WEEDMD INC.


TORONTO, Dec. 02, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, announced today that it has posted an open letter to its shareholders to provide additional background information about its recent 27-acre outdoor harvest yields, the Starseed Holdings Inc. (“Starseed”) acquisition, and the $25 million strategic investment from the Labourers’ Pension Fund of Central and Eastern Canada (known as “LPF”) (the “Transaction”). The Shareholder Letter was cascaded earlier today and can be found on WeedMD’s website here.


Access the WeedMD and Starseed Transaction deck here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.

Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
&
https://www.instagram.com/callitcolor/   


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Announces Strategic Combination with Starseed Holdings Inc. and Secures $25 Million Cornerstone Investment in WEEDMD INC.

WeedMD’s leading cultivation and processing capabilities to provide consistent, high-quality supply for Starseed’s unique sales platform of captive cannabis-insured medical patients

       Starseed’s strategic investor, Labourers’ Pension Fund, to invest $25 million into WeedMD

Joint management to host a conference call on November 29, 2019 at 1PM Eastern Time

TORONTO, Nov. 29, 2019 (GLOBE NEWSWIRE) -- 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 announce that it has entered into a definitive agreement dated November 29, 2019 to acquire Starseed Holdings Inc. (“Starseed”), a medically-focused, federally-licensed cannabis company providing cannabis to insured patients with coverage under their benefit plans (the “Acquisition”). The arms-length all-share Acquisition is valued at approximately $78 million, and Starseed’s strategic investor, the Labourers’ Pension Fund of Central and Eastern Canada (“LPF”), will make a concurrent $25 million equity investment directly into WeedMD (the “Strategic Investment” and collectively the “Transaction”). The Transaction bolsters the Company’s leadership position in the medical cannabis market through Starseed’s exclusive distribution and patient channels, provides important growth capital and fortifies WeedMD’s balance sheet.


The Acquisition creates a unique, high-margin sales channel for WeedMD’s low-cost, high-quality production, creating a vertically-integrated company that can execute across the entire value chain. Starseed has launched an industry-first partnership with Canada’s largest construction union, the Laborers’ International Union of North America (“LiUNA”), to provide medical cannabis as a fully-covered drug benefit for its more than 100,000 members and retirees in addition to their respective dependents.


"We believe that there are three pillars to long-term success in the cannabis space: quality production, unique distribution, and a strong balance sheet,” said Keith Merker, CEO of WeedMD. “This acquisition allows WeedMD to increase its distribution capabilities, maximize margins and access growth capital through a strategic investor.”


Angelo Tsebelis, President of Starseed, commented, "At Starseed, we have focused on building a unique sales platform that largely mirrors the pharmacy distribution model. Simply put, by making cannabis a paid benefit we have removed many of the barriers to mass market uptake of medical cannabis. Coupled with WeedMD’s high-quality cultivation assets and processing capabilities, we are well-positioned for accelerated future growth.”


LPF’s Strategic Investment bolsters the combined company’s financial position, bringing WeedMD’s pro forma cash balance to approximately $56 million (as at September 30, 2019 and including the $25 million Strategic Investment). Upon completion of the Transaction, existing WeedMD shareholders will own 55% of the newly-formed company while Starseed shareholders, including LPF, will own 45% (see Transaction Summary below for details).  


Benefits to WeedMD Shareholders:



  • Combining Complementary Operations Across the Value Chain: WeedMD is matching its low-cost production platform with Starseed’s high-margin sales channels to generate substantive margins. WeedMD’s production capacity creates ample supply for Starseed’s rapidly-growing patient base, currently at approximately 6,500 patients. Starseed is currently operating at a medical revenue run rate of approximately $10 million per year. WeedMD’s cultivation platform will also enable Starseed to scale the distribution of products in the adult-use market under its Saturday brand.
     

  • Enhanced Processing and Distribution Capabilities: Wholly-owned by WeedMD, CX Industries is expected to reach a processing and extraction capacity of 200,000 kgs by year-end 2020, providing Canada and international markets with new and innovative consumption methods. By leveraging Starseed’s packaging and distribution capabilities at its fully-licensed Bowmanville facility, the Company has the necessary infrastructure to meet emerging industry demand, including expected growth in the retail environment in 2020.
     

  • Significant and Immediate Cost and Revenue Synergies: Starseed’s cost of goods sold is expected to decrease significantly by transitioning from wholesale-purchased product to internally-produced WeedMD supply, creating an immediate production cost synergy. Furthermore, the Company has targeted SG&A savings of up to $10 million per year by end of 2020. On the revenue side, WeedMD expects to benefit from Starseed’s industry-leading average annual patient spend, which is approximately three times WeedMD’s predominantly business-to-business wholesale unit pricing, which  creates a material, recurring, low-turnover revenue opportunity.
     

  • Cornerstone Investor Fortifies Balance Sheet for Long-Term: Through its $25 million Strategic Investment into WeedMD, LPF is a supportive strategic investor. Upon completion of the Transaction, LPF will own approximately 29% of the pro forma company on a fully-diluted, in-the-money basis. LPF is one of the fastest growing pension funds in Canada.
     

  • Broadens An Already Strong Management Team: Starseed’s management team brings extensive retail, medical, marketing, and financial expertise and experience, as well as strong industry and client relationships. These strengths are complementary to WeedMD’s cultivation and product-focused skillsets. 


A summary of the amalgamated entity can be found on the WeedMD.com website or by clicking here.


Transaction Summary


Upon closing of the Acquisition, WeedMD will issue 71.8 million shares to Starseed shareholders, which will result in a pro forma ownership at close equal to: 62% (WeedMD), 18% (Starseed shareholders, excluding LPF), and 19.9% (LFP), on a fully-diluted, in-the-money basis. The Acquisition values Starseed at approximately $78 million based on the 15-day WeedMD volume-weighted average share price of $1.08 (“WeedMD VWAP”) ended November 27, 2019.


LPF has entered into a subscription agreement related to the Strategic Investment pursuant to which it has purchased subscription receipts (the “Subscription Receipts”) for aggregate gross proceeds of $25,000,000. The issue price of each Subscription Receipt shall be at a price equal to the greater of: (i) $1.0832, or (ii) the minimum price permitted by the rules of the TSX Venture Exchange. Upon WeedMD obtaining shareholder approval for the Strategic Investment, each Subscription Receipt shall be automatically exchanged for one WeedMD common share. Upon the exchange of the Subscription Receipts, pro forma ownership in the Company will be equal to: 55% (WeedMD), 16% (Starseed shareholders, excluding LPF), and 29% (LFP), on a fully-diluted, in-the-money basis.


The pro forma company’s board of directors will be comprised of four representatives from WeedMD and three representatives from Starseed. In addition, certain members of Starseed’s management will join the management team of the combined entity.


No WeedMD shareholder approval is anticipated in connection with the Acquisition. However, the Acquisition and Strategic Investment are subject to regulatory approvals, as well as other customary closing conditions.


The Acquisition is expected to close in December 2019. There will be a special meeting of WeedMD shareholder’s related to the Strategic Investment, which is expected to occur in February 2020.


WeedMD Approval and Recommendation


WeedMD’s Board of Directors (the “WeedMD Board”) has unanimously approved the Acquisition and Strategic Investment, determining that the Transaction is in the best interests of WeedMD and its shareholders. The WeedMD Board also received a verbal fairness opinion (the “Fairness Opinion”) provided by INFOR Financial Inc. that, subject to the assumptions, qualifications and limitations contained in the Fairness Opinion, the consideration being paid to Starseed pursuant to the Acquisition and the concurrent Strategic Investment, is fair, from a financial point of view, to WeedMD.


Starseed Approval and Recommendation


The Starseed Board of Directors (the “Starseed Board”) has unanimously approved the Acquisition, determining that the Acquisition is in the best interests of Starseed and its shareholders.


Certain Starseed shareholders, including LPF, who collectively beneficially own, or exercise control or direction over, approximately 68% of the outstanding Starseed shares (“Starseed Shares”), have entered into voting support agreements pursuant to which each has agreed to vote their Starseed Shares in favour of the Acquisition and all other matters in favour of the Acquisition.


Summary of Starseed Financial Information


Read more here: https://quotemedia.com/portal/quote?qm_symbol=WMD%3ACC&qmodStoryID=7427271140614944 

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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Appoints Seasoned Management Team to Lead Commercial Extraction Affiliate CX Industries Inc. in WEEDMD INC.

Newly-appointed CX team includes veteran pharma leader Tricia Symmes as General Manager and skilled concentrates leader Logan Marynissen as Director of Extraction


TORONTO, Nov. 26, 2019 (GLOBE NEWSWIRE) -- 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 announce the appointment of Tricia Symmes as General Manager of CX Industries Inc. (“CX Industries” or “CX”). CX Industries is the wholly-owned subsidiary of WeedMD that specializes in extraction, toll processing and third-party product formulation and operates out of the Company’s fully-licensed extraction hub in Aylmer, Ontario. In this newly-created role, Tricia will lead CX Industries’ commercial operations and the development of new business channels and product development for both the adult-use and medical markets. CX Industries will leverage her extensive knowledge and experience in bringing over 20 pharmaceutical products to market, including developing medical cannabis formulations as it looks to introduce high-margin products of new cannabis classes.


Also joining the CX team is industry specialist Logan Marynissen, as Director of Extraction. Logan will optimize WeedMD’s extraction operations and provide technical oversight for the production of new cannabis products. Tricia and Logan will drive CX Industries to commercial scale and lead product innovation with low-cost cannabis readily available from WeedMD’s outdoor and greenhouse-crafted cannabis. Outdoor-cannabis harvest video here.


“As we strengthen our verticals, build new cannabis product lines and continue scaling for growth, we are positioning WeedMD for long-term success and CX will be a critical component as we execute our new cannabis products strategy,” said Keith Merker, CEO of WeedMD. “We welcome Tricia and Logan, both seasoned leaders from Canada’s pharmaceutical and extraction industries who bring considerable bench-strength and experience to our team. With Tricia’s commercial acumen, deep understanding of P&L structures and medical cannabis oversight, and Logan’s rich experience in varied extraction methodologies, they are perfectly suited to lead CX.”


CX Industries’ Vitalis Q-90 supercritical CO2 extractor recently entered commercial operations. With its focus on end-product manufacturing and white-labelling, CX expects to produce the highest margin cannabis products for increased profitability. A significant portion of WeedMD’s low-cost greenhouse and outdoor biomass is slated for CX Industries. Its throughput capacity of 26,000 kgs will double to over 50,000 kgs per year when a second extractor becomes operative by end of 2019. At peak production in 2020 with four machines in operation, CX will have the capacity to extract and process 200,000 kgs of biomass annually. More about CX launch here.


“This is a pivotal time to be joining CX Industries as we leverage WeedMD’s robust and disruptive cultivation platform to develop industry-leading, margin-rich cannabis products. Everything from concentrates to sprays to topicals,“ said Tricia Symmes, General Manager of CX Industries. “The industry is rife with opportunity as consumers look for alternate ways to incorporate cannabis into their routines and borrowing from Pharma and CPG will ensure we remain best-in-class.”


Additionally, CX Industries and WeedMD will list a range of cannabis extract products across its medical and non-medical markets in Q1 2020. The Company also expects to launch new brands to complement its current portfolio and introduce products of new cannabis classes in the new year.


About CX Industries’ hires:


Tricia Symmes, General Manager, CX Industries: Most recently the Chief Operating Officer of Acerus Pharmaceuticals, Tricia has a deep knowledge in commercial and business development as well as regulatory, governance and compliance requirements. She previously held positions of increasing responsibility including General Manager at Alcon Canada and Vice President of Sales and Marketing with Novartis Pharmaceuticals. Tricia holds an MBA from Charles Strut University, an Honors Bachelor in Kinesiology from Western University and a post-graduate certificate in Human Resources Management from Humber College.


Logan Marynissen, Director of Extraction, CX Industries: Logan spent the last four years overseeing Canopy Growth’s extraction operations in Smith Falls, Ontario. He will be instrumental as WeedMD scales its CX operations. He brings experience and deep knowledge in plant extraction methodologies such as: distillation, crystallization, decarboxylation, terpene separation, winterization and supercritical extraction. Logan holds an Honors BSc. Degree in Biological & Pharmaceutical Chemistry from Guelph University.


Access WeedMD’s investor presentation here and 2019 corporate video highlights here.


About CX Industries Inc.
CX Industries is a wholly-owned subsidiary of WeedMD Inc. and operates out of its fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility and specializes in cannabis extraction and processing. The facility is located on four acres of expandable property owned by WeedMD. At peak production in 2020, CX is expected to extract and process more than 200,000 kgs of biomass annually. 


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.


Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
Instagram: https://www.instagram.com/callitcolor/


A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/db6929d6-df48-45c6-a4aa-374e236c6827


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE



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WeedMD Appoints Pharmaceutical Executive to Lead Affiliate CX Industries Inc.



 



Tricia Symmes, General Manager of CX industries, will lead the wholly-owned WeedMD affiliate that specializes in extraction, toll processing and third-party product formulations.




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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD to Host Third Quarter 2019 Earnings Conference Call on November 29 at 10 a.m. Eastern Time in WEEDMD INC.

Company financials and corporate update will be filed after market on November 28, 2019


TORONTO, Nov. 22, 2019 (GLOBE NEWSWIRE) -- 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 confirm that it will release its quarterly financials after market close on Thursday November 28, 2019. The Company will host a conference call with management on Friday, November 29, 2019 at 10 a.m. Eastern Time to report its financial results for the three- and nine-months period ending September 30, 2019, as well as provide an operational and corporate outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO of WeedMD.


Management will be available for analyst and media questions following opening remarks.


Conference Call Details:





















Date: Friday, November 29, 2019
Time: 10 a.m. Eastern Time
Dial-in Number: Canada/USA: 1-800-319-4610. International Toll: 1-604-638-5340
Participants, please dial in and ask to join the WeedMD call.
Replay Dial-in: Canada/USA: 1-800-319-6413. International Toll: 1-604-638-9010
Replay Access Code: 3858
Replay will be available after 12:00 p.m. Eastern Time, until December 29, 2019.

Access WeedMD’s investor presentation here and 2019 corporate video highlights here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.
Follow WeedMD & Color Cannabis: 


facebook, linkedin, twitter, instagram instagram


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

3 months ago

8020 Admin posted a press release WeedMD Provides Corporate Update and Schedules Q3 2019 Earnings Call for November 29th in WEEDMD INC.

Company completes inaugural outdoor cannabis harvest; CX Industries enters commercial operations; Health Canada grants WeedMD approval to produce extracts, edibles & topicals


TORONTO, Nov. 05, 2019 (GLOBE NEWSWIRE) -- 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 an operational update. The Company  has successfully completed the harvest of its 27-acre crop of outdoor cannabis at its Strathroy facility. WeedMD will hold its Q3-19 earnings call to report its financial results on Friday, November 29, 2019 following the release of its quarterly financial filings. Call details found here.


WeedMD is also pleased to announce that it has entered into commercial extraction operations at its Aylmer facility, with the commissioning of its recently installed extraction equipment. In addition, the Company has secured a Health Canada licence to produce and sell cannabis concentrates, edibles and topicals at this location, paving the way for the production and sale of cannabis 2.0 products.


“With the outdoor harvest now complete, we’ve achieved a significant milestone. WeedMD now has a significant amount of cannabis that we intend to bring to market over the current and coming quarters as both dried flower and in various value-added formats,” said Keith Merker, CEO of WeedMD. “Combining our vertically-integrated extraction business at our CX Industries site in Aylmer with our low-cost production of dried flower, we are well positioned to emerge as a leader in the production and sale of extracts.”


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.  See harvest video here.


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.


Access WeedMD’s investor presentation here and 2019 corporate video highlights here. For more information about CX Industries, visit website here.


About CX Industries Inc.

CX Industries is a wholly-owned subsidiary of WeedMD Inc. and operates out of its fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility and specializes in cannabis extraction and processing. The facility is located on four acres of expandable property owned by WeedMD. At peak production in 2020, CX is expected to extract and process more than 200,000 kgs of biomass annually. 

About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.

Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/                                                                                   


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

3 months ago

8020 Admin posted a press release WeedMD Secures Health Canada Licence for 50,000-Square-Foot Purpose-Built Cannabis Processing Facility in WEEDMD INC.

Stand-alone centre capable of processing and storing more than 40 tons of dried cannabis


TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- 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 announce that it has secured a Health Canada licence amendment approval for its purpose-built processing facility in Strathroy, Ontario. The stand-alone, 50,000 sq. ft. custom-built structure, located on WeedMD’s 158-acre Strathroy property, will dry, process and cure all remaining outdoor-cultivated cannabis in 2019 and is built to process and store more than 40 tons of dried cannabis biomass. Latest Outdoor Grow video here.


“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” said Keith Merker, CEO of WeedMD. “The harvest has been very successful so far and this represents another milestone as we continue to disrupt traditional modes of cultivation. WeedMD now expects to take a leadership position in Canada for low-cost, high-cannabinoid biomass.”


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.


Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/ & https://www.instagram.com/callitcolor/


For further information, please contact:


WeedMD Inc.


For Investor Inquiries:


James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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Media Relations posted an update in WEEDMD INC.

5 months ago

WeedMD Outdoor Cannabis Cultivation & Production Update

WeedMD Inc.

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WeedMD is a Health Canada Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR).

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WeedMD Inc.

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WeedMD is a Health Canada Licensed Producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR)....

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8020 Admin

24 hours ago

8020 Admin posted a press release WeedMD to Hold Special Meeting of Shareholders on February 4th, 2020 at 10:00 a.m. to Finalize $25M Strategic Equity Investment in WEEDMD INC.


TORONTO, Jan. 20, 2020 (GLOBE NEWSWIRE) -- 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 confirm that a special meeting (“Meeting”) of shareholders (the “Shareholders”) of WeedMD will take place as scheduled on February, 4, 2020 at 10:00 a.m. (EST) at Fogler, Rubinoff LLP, located at TD Centre North Tower, Suite 3000, 77 King Street West, Toronto, Ontario.


The Meeting is being held in connection with the private placement of subscription receipts (the “Subscription Receipts”) with the LiUNA Pension Fund of Central and Eastern Canada (“LPF”) for gross proceeds of $25 million, which was completed as part of WeedMD's acquisition of Starseed Holdings Inc. ("Starseed").  Upon WeedMD receiving the requisite shareholder approvals at the Meeting, the Subscription Receipts will automatically convert into WeedMD common shares. Further details about the financing are contained in the Meeting information circular (the "Circular") which is available for download on WeedMD’s SEDAR profile here.


Shareholders as of the record date of December 30, 2019 will have the right to vote by proxy or in person at the Meeting. All Shareholder votes are important and each is encouraged to take the time to read the Circular and vote prior to the voting deadline of January 31, at 10:00 a.m. (EST).


In connection with the closing of the Starseed acquisition, WeedMD will be issuing 538,756 common shares to Stoic Advisory Inc. as consideration for financial advisory services provided to WeedMD.  In addition, upon completion of the $25 million equity investment, an additional 153,637 common shares will be issued to Stoic.


Access WeedMD’s investor presentation here and AGM corporate video highlights here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed:                                                                       


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://ca.linkedin.com/company/weedmd 
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/


Instagram: https://www.instagram.com/callitcolor/


&


Instagram: https://www.instagram.com/starseedca/


For further information, please contact:


For Investor Enquiries:
Stephen Ng
Chief Strategy Officer
Email: investor@weedmd.com


For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

5 days ago

8020 Admin posted a press release WeedMD Subsidiary Starseed Medicinal Signs LiUNA's London, Ontario Local to Medical Cannabis Program in WEEDMD INC.

Starseed is now the preferred medical cannabis supplier to five LiUNA Locals including London Local 1059’s 4,000 members through their health benefit plan


TORONTO, Jan. 16, 2020 (GLOBE NEWSWIRE) -- 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 announce that its newly-acquired subsidiary Starseed Medicinal Inc. (“Starseed”) has launched its full-service medical cannabis program as the preferred supplier of medical cannabis to  Labourers’ International Union of North America (LiUNA) Local 1059, headquartered in London, Ontario. The agreement provides approximately 4,000 members and their dependents with medical cannabis as a reimbursed benefit with no co-pay or out-of-pocket costs.


LiUNA is the largest construction union in Canada and LiUNA Local 1059 becomes the fifth LiUNA local to be onboarded onto Starseed’s medical cannabis program following launches in Toronto, Hamilton-Niagara and Windsor. Additional LiUNA locals are expected to join in 2020 along with other new insurance payor groups.


“Starseed’s full service medical platform – coupled with WeedMD’s medical-grade cannabis products - is revolutionizing the way Canadians access medical cannabis and we welcome LiUNA Local 1059 members to our program,” said Angelo Tsebelis, President of Starseed. “WeedMD and Starseed are improving fair and safe access to medical cannabis with an end-to-end service model that eliminates many of the practical and financial barriers associated with traditional ways of accessing cannabis as a medicine.” 


“It’s important to the Local 1059 Benefit Trustees that our 4,000 members have access to a broad and diverse range of medical therapies to suit their individual healthcare needs. Having the opportunity to collaborate with some of the most trusted names in medical cannabis was a key driver for entering into this agreement with Starseed,” said Brandon MacKinnon, Business Manager of LiUNA Local 1059. “Additionally, WeedMD has a strong reputation in our city and we’re looking forward to working with this local licensed producer to educate and facilitate medical cannabis access for our members.”


“We’ve kicked off the new year as a freshly integrated company and we’re thrilled at the many strategic business opportunities and partnerships that Starseed is bringing forward – perfectly aligned with our best-in-class cultivation program,” said Keith Merker, CEO of WeedMD. “As long-time supporters of our hometown London community coupled with our strong commitment to medical cannabis, we welcome LiUNA Local 1059 and look forward to the continued engagement with our local patient base.”


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/


Instagram: https://www.instagram.com/callitcolor/


 


&


Instagram: https://www.instagram.com/starseedca/


For further information, please contact:


For WeedMD Investor Enquiries:
Stephen Ng
Chief Strategy Officer
Email: investor@weedmd.com


For WeedMD Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


For LiUNA Media Enquiries:
Victoria Mancinelli
Director of Communications, Public Relations and Marketing
Tel: 1-289-681-1703
Email: vmancinelli@liunaopdc.org


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

29 days ago

8020 Admin posted a press release WeedMD Closes Acquisition of Starseed Holdings Inc. and $25 Million Subscription Receipt Financing in WEEDMD INC.

Company enhances management team & board of directors, announces new chair


TORONTO, Dec. 23, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, and Starseed Holdings Inc. (“Starseed”), a medically-focused, federally-licensed cannabis company, are pleased to announce the closing of the previously announced acquisition of Starseed Holdings by WeedMD (the “Acquisition”).


Concurrent with the closing, WeedMD also completed the previously announced private placement of subscription receipts (the “Subscription Receipts”) with the LiUNA Pension Fund of Central and Eastern Canada (“LPF”), for aggregate gross proceeds of $25 million. The issue price of each Subscription Receipt is $1.0832, and each Subscription Receipt shall be automatically exchangeable into one WeedMD common share upon its shareholders approving certain matters associated with the financing at a meeting scheduled for February 4, 2020.


“We officially welcome the Starseed team to the WeedMD family which together will kick-off 2020 as a very compelling, vertically-integrated cannabis company that will execute across the entire value chain,” said Keith Merker, CEO of WeedMD. “Starseed’s unique medical distribution platform complements WeedMD’s high-quality cultivation and processing platform. This partnership, along with the $25 million strategic equity investment by LPF, positions WeedMD and its shareholders with a fortified balance sheet and one of the most captive medical cannabis businesses in the country as we enter the new year.”


Management Team


Following today’s closing, Starseed’s management team, which brings extensive medical, operating, and financial expertise, in addition to strong industry and client relationships, integrates into WeedMD’s senior leadership team as follows:



  • Keith Merker, CEO (maintains role)

  • Angelo Tsebelis, formerly President of Starseed, assumes the role of President of WeedMD

  • Nichola Thompson, CFO (maintains role)

  • Stephen Ng, formerly CFO of Starseed, is appointed to Chief Strategy Officer of WeedMD

  • Dr. Peter Blecher, formerly Chief Medical Officer of Starseed, assumes the role of Chief Medical Officer of WeedMD


Additional information about WeedMD’s current management team can be found here.


Board Directors


In addition to the Starseed leadership appointments, WeedMD’s board of directors is now comprised of four representatives from WeedMD and three representatives from Starseed.


WeedMD is pleased to announce that seasoned industry leader George Scorsis is appointed as Executive Chair of its board of directors. For the last six months, Mr. Scorsis has served as executive advisor to the WeedMD board and leadership team and is widely recognized in the cannabis and beverage industries for building, leading and managing high-performing management teams.


WeedMD extends its gratitude to Michael Kraft who has served as Chair of its board of directors since the Company’s inception. As one of WeedMD’s co-founders, Mr. Kraft has been integral to its growth and success over the years and we are pleased he has accepted the role of strategic advisor to the board which includes the existing WeedMD directors:



  • Keith Merker, currently CEO of WeedMD

  • Gail Paech, formerly Associate Deputy Minister, Ministry of Health, Ontario

  • Michael Pesner, previously on the board of SAQ (Société des alcools du Québec),  and KPMG executive leader


WeedMD is pleased to welcome three new board directors from Starseed:  



  • Angelo Tsebelis, currently President of WeedMD

  • G. Edmund King, former CEO and Chairman of CIBC Wood Gundy

  • Dr. Hugh Scully, previously President of both the Ontario & Canadian Medical Associations


Additional information about WeedMD’s current board of directors can be found here.


The Company would also like to thank Rick Moscone and Kevin McGovern who have elected to step down following three years and one year of service, respectively.


Pursuant to the Acquisition, WeedMD acquired 100% of the issued and outstanding common shares of Starseed and in exchange Starseed shareholders received a total of approximately 71.8 million common shares of WeedMD. Certain shareholders of Starseed, holding approximately 49 million common shares of WeedMD, have agreed to an 18-month lock-up and leak out agreement.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.


Follow WeedMD, Color Cannabis & Starseed: 


Facebook
LinkedIn
Twitter
Instagram Weed MD
Instagram Color Cannabis
Instagram Starseed


For further information, please contact:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Posts Open Letter to Shareholders in WEEDMD INC.


TORONTO, Dec. 02, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, announced today that it has posted an open letter to its shareholders to provide additional background information about its recent 27-acre outdoor harvest yields, the Starseed Holdings Inc. (“Starseed”) acquisition, and the $25 million strategic investment from the Labourers’ Pension Fund of Central and Eastern Canada (known as “LPF”) (the “Transaction”). The Shareholder Letter was cascaded earlier today and can be found on WeedMD’s website here.


Access the WeedMD and Starseed Transaction deck here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.

Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
&
https://www.instagram.com/callitcolor/   


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Announces Strategic Combination with Starseed Holdings Inc. and Secures $25 Million Cornerstone Investment in WEEDMD INC.

WeedMD’s leading cultivation and processing capabilities to provide consistent, high-quality supply for Starseed’s unique sales platform of captive cannabis-insured medical patients

       Starseed’s strategic investor, Labourers’ Pension Fund, to invest $25 million into WeedMD

Joint management to host a conference call on November 29, 2019 at 1PM Eastern Time

TORONTO, Nov. 29, 2019 (GLOBE NEWSWIRE) -- 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 announce that it has entered into a definitive agreement dated November 29, 2019 to acquire Starseed Holdings Inc. (“Starseed”), a medically-focused, federally-licensed cannabis company providing cannabis to insured patients with coverage under their benefit plans (the “Acquisition”). The arms-length all-share Acquisition is valued at approximately $78 million, and Starseed’s strategic investor, the Labourers’ Pension Fund of Central and Eastern Canada (“LPF”), will make a concurrent $25 million equity investment directly into WeedMD (the “Strategic Investment” and collectively the “Transaction”). The Transaction bolsters the Company’s leadership position in the medical cannabis market through Starseed’s exclusive distribution and patient channels, provides important growth capital and fortifies WeedMD’s balance sheet.


The Acquisition creates a unique, high-margin sales channel for WeedMD’s low-cost, high-quality production, creating a vertically-integrated company that can execute across the entire value chain. Starseed has launched an industry-first partnership with Canada’s largest construction union, the Laborers’ International Union of North America (“LiUNA”), to provide medical cannabis as a fully-covered drug benefit for its more than 100,000 members and retirees in addition to their respective dependents.


"We believe that there are three pillars to long-term success in the cannabis space: quality production, unique distribution, and a strong balance sheet,” said Keith Merker, CEO of WeedMD. “This acquisition allows WeedMD to increase its distribution capabilities, maximize margins and access growth capital through a strategic investor.”


Angelo Tsebelis, President of Starseed, commented, "At Starseed, we have focused on building a unique sales platform that largely mirrors the pharmacy distribution model. Simply put, by making cannabis a paid benefit we have removed many of the barriers to mass market uptake of medical cannabis. Coupled with WeedMD’s high-quality cultivation assets and processing capabilities, we are well-positioned for accelerated future growth.”


LPF’s Strategic Investment bolsters the combined company’s financial position, bringing WeedMD’s pro forma cash balance to approximately $56 million (as at September 30, 2019 and including the $25 million Strategic Investment). Upon completion of the Transaction, existing WeedMD shareholders will own 55% of the newly-formed company while Starseed shareholders, including LPF, will own 45% (see Transaction Summary below for details).  


Benefits to WeedMD Shareholders:



  • Combining Complementary Operations Across the Value Chain: WeedMD is matching its low-cost production platform with Starseed’s high-margin sales channels to generate substantive margins. WeedMD’s production capacity creates ample supply for Starseed’s rapidly-growing patient base, currently at approximately 6,500 patients. Starseed is currently operating at a medical revenue run rate of approximately $10 million per year. WeedMD’s cultivation platform will also enable Starseed to scale the distribution of products in the adult-use market under its Saturday brand.
     

  • Enhanced Processing and Distribution Capabilities: Wholly-owned by WeedMD, CX Industries is expected to reach a processing and extraction capacity of 200,000 kgs by year-end 2020, providing Canada and international markets with new and innovative consumption methods. By leveraging Starseed’s packaging and distribution capabilities at its fully-licensed Bowmanville facility, the Company has the necessary infrastructure to meet emerging industry demand, including expected growth in the retail environment in 2020.
     

  • Significant and Immediate Cost and Revenue Synergies: Starseed’s cost of goods sold is expected to decrease significantly by transitioning from wholesale-purchased product to internally-produced WeedMD supply, creating an immediate production cost synergy. Furthermore, the Company has targeted SG&A savings of up to $10 million per year by end of 2020. On the revenue side, WeedMD expects to benefit from Starseed’s industry-leading average annual patient spend, which is approximately three times WeedMD’s predominantly business-to-business wholesale unit pricing, which  creates a material, recurring, low-turnover revenue opportunity.
     

  • Cornerstone Investor Fortifies Balance Sheet for Long-Term: Through its $25 million Strategic Investment into WeedMD, LPF is a supportive strategic investor. Upon completion of the Transaction, LPF will own approximately 29% of the pro forma company on a fully-diluted, in-the-money basis. LPF is one of the fastest growing pension funds in Canada.
     

  • Broadens An Already Strong Management Team: Starseed’s management team brings extensive retail, medical, marketing, and financial expertise and experience, as well as strong industry and client relationships. These strengths are complementary to WeedMD’s cultivation and product-focused skillsets. 


A summary of the amalgamated entity can be found on the WeedMD.com website or by clicking here.


Transaction Summary


Upon closing of the Acquisition, WeedMD will issue 71.8 million shares to Starseed shareholders, which will result in a pro forma ownership at close equal to: 62% (WeedMD), 18% (Starseed shareholders, excluding LPF), and 19.9% (LFP), on a fully-diluted, in-the-money basis. The Acquisition values Starseed at approximately $78 million based on the 15-day WeedMD volume-weighted average share price of $1.08 (“WeedMD VWAP”) ended November 27, 2019.


LPF has entered into a subscription agreement related to the Strategic Investment pursuant to which it has purchased subscription receipts (the “Subscription Receipts”) for aggregate gross proceeds of $25,000,000. The issue price of each Subscription Receipt shall be at a price equal to the greater of: (i) $1.0832, or (ii) the minimum price permitted by the rules of the TSX Venture Exchange. Upon WeedMD obtaining shareholder approval for the Strategic Investment, each Subscription Receipt shall be automatically exchanged for one WeedMD common share. Upon the exchange of the Subscription Receipts, pro forma ownership in the Company will be equal to: 55% (WeedMD), 16% (Starseed shareholders, excluding LPF), and 29% (LFP), on a fully-diluted, in-the-money basis.


The pro forma company’s board of directors will be comprised of four representatives from WeedMD and three representatives from Starseed. In addition, certain members of Starseed’s management will join the management team of the combined entity.


No WeedMD shareholder approval is anticipated in connection with the Acquisition. However, the Acquisition and Strategic Investment are subject to regulatory approvals, as well as other customary closing conditions.


The Acquisition is expected to close in December 2019. There will be a special meeting of WeedMD shareholder’s related to the Strategic Investment, which is expected to occur in February 2020.


WeedMD Approval and Recommendation


WeedMD’s Board of Directors (the “WeedMD Board”) has unanimously approved the Acquisition and Strategic Investment, determining that the Transaction is in the best interests of WeedMD and its shareholders. The WeedMD Board also received a verbal fairness opinion (the “Fairness Opinion”) provided by INFOR Financial Inc. that, subject to the assumptions, qualifications and limitations contained in the Fairness Opinion, the consideration being paid to Starseed pursuant to the Acquisition and the concurrent Strategic Investment, is fair, from a financial point of view, to WeedMD.


Starseed Approval and Recommendation


The Starseed Board of Directors (the “Starseed Board”) has unanimously approved the Acquisition, determining that the Acquisition is in the best interests of Starseed and its shareholders.


Certain Starseed shareholders, including LPF, who collectively beneficially own, or exercise control or direction over, approximately 68% of the outstanding Starseed shares (“Starseed Shares”), have entered into voting support agreements pursuant to which each has agreed to vote their Starseed Shares in favour of the Acquisition and all other matters in favour of the Acquisition.


Summary of Starseed Financial Information


Read more here: https://quotemedia.com/portal/quote?qm_symbol=WMD%3ACC&qmodStoryID=7427271140614944 

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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD Appoints Seasoned Management Team to Lead Commercial Extraction Affiliate CX Industries Inc. in WEEDMD INC.

Newly-appointed CX team includes veteran pharma leader Tricia Symmes as General Manager and skilled concentrates leader Logan Marynissen as Director of Extraction


TORONTO, Nov. 26, 2019 (GLOBE NEWSWIRE) -- 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 announce the appointment of Tricia Symmes as General Manager of CX Industries Inc. (“CX Industries” or “CX”). CX Industries is the wholly-owned subsidiary of WeedMD that specializes in extraction, toll processing and third-party product formulation and operates out of the Company’s fully-licensed extraction hub in Aylmer, Ontario. In this newly-created role, Tricia will lead CX Industries’ commercial operations and the development of new business channels and product development for both the adult-use and medical markets. CX Industries will leverage her extensive knowledge and experience in bringing over 20 pharmaceutical products to market, including developing medical cannabis formulations as it looks to introduce high-margin products of new cannabis classes.


Also joining the CX team is industry specialist Logan Marynissen, as Director of Extraction. Logan will optimize WeedMD’s extraction operations and provide technical oversight for the production of new cannabis products. Tricia and Logan will drive CX Industries to commercial scale and lead product innovation with low-cost cannabis readily available from WeedMD’s outdoor and greenhouse-crafted cannabis. Outdoor-cannabis harvest video here.


“As we strengthen our verticals, build new cannabis product lines and continue scaling for growth, we are positioning WeedMD for long-term success and CX will be a critical component as we execute our new cannabis products strategy,” said Keith Merker, CEO of WeedMD. “We welcome Tricia and Logan, both seasoned leaders from Canada’s pharmaceutical and extraction industries who bring considerable bench-strength and experience to our team. With Tricia’s commercial acumen, deep understanding of P&L structures and medical cannabis oversight, and Logan’s rich experience in varied extraction methodologies, they are perfectly suited to lead CX.”


CX Industries’ Vitalis Q-90 supercritical CO2 extractor recently entered commercial operations. With its focus on end-product manufacturing and white-labelling, CX expects to produce the highest margin cannabis products for increased profitability. A significant portion of WeedMD’s low-cost greenhouse and outdoor biomass is slated for CX Industries. Its throughput capacity of 26,000 kgs will double to over 50,000 kgs per year when a second extractor becomes operative by end of 2019. At peak production in 2020 with four machines in operation, CX will have the capacity to extract and process 200,000 kgs of biomass annually. More about CX launch here.


“This is a pivotal time to be joining CX Industries as we leverage WeedMD’s robust and disruptive cultivation platform to develop industry-leading, margin-rich cannabis products. Everything from concentrates to sprays to topicals,“ said Tricia Symmes, General Manager of CX Industries. “The industry is rife with opportunity as consumers look for alternate ways to incorporate cannabis into their routines and borrowing from Pharma and CPG will ensure we remain best-in-class.”


Additionally, CX Industries and WeedMD will list a range of cannabis extract products across its medical and non-medical markets in Q1 2020. The Company also expects to launch new brands to complement its current portfolio and introduce products of new cannabis classes in the new year.


About CX Industries’ hires:


Tricia Symmes, General Manager, CX Industries: Most recently the Chief Operating Officer of Acerus Pharmaceuticals, Tricia has a deep knowledge in commercial and business development as well as regulatory, governance and compliance requirements. She previously held positions of increasing responsibility including General Manager at Alcon Canada and Vice President of Sales and Marketing with Novartis Pharmaceuticals. Tricia holds an MBA from Charles Strut University, an Honors Bachelor in Kinesiology from Western University and a post-graduate certificate in Human Resources Management from Humber College.


Logan Marynissen, Director of Extraction, CX Industries: Logan spent the last four years overseeing Canopy Growth’s extraction operations in Smith Falls, Ontario. He will be instrumental as WeedMD scales its CX operations. He brings experience and deep knowledge in plant extraction methodologies such as: distillation, crystallization, decarboxylation, terpene separation, winterization and supercritical extraction. Logan holds an Honors BSc. Degree in Biological & Pharmaceutical Chemistry from Guelph University.


Access WeedMD’s investor presentation here and 2019 corporate video highlights here.


About CX Industries Inc.
CX Industries is a wholly-owned subsidiary of WeedMD Inc. and operates out of its fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility and specializes in cannabis extraction and processing. The facility is located on four acres of expandable property owned by WeedMD. At peak production in 2020, CX is expected to extract and process more than 200,000 kgs of biomass annually. 


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.


Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
Instagram: https://www.instagram.com/callitcolor/


A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/db6929d6-df48-45c6-a4aa-374e236c6827


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE



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WeedMD Appoints Pharmaceutical Executive to Lead Affiliate CX Industries Inc.



 



Tricia Symmes, General Manager of CX industries, will lead the wholly-owned WeedMD affiliate that specializes in extraction, toll processing and third-party product formulations.




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8020 Admin

2 months ago

8020 Admin posted a press release WeedMD to Host Third Quarter 2019 Earnings Conference Call on November 29 at 10 a.m. Eastern Time in WEEDMD INC.

Company financials and corporate update will be filed after market on November 28, 2019


TORONTO, Nov. 22, 2019 (GLOBE NEWSWIRE) -- 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 confirm that it will release its quarterly financials after market close on Thursday November 28, 2019. The Company will host a conference call with management on Friday, November 29, 2019 at 10 a.m. Eastern Time to report its financial results for the three- and nine-months period ending September 30, 2019, as well as provide an operational and corporate outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO of WeedMD.


Management will be available for analyst and media questions following opening remarks.


Conference Call Details:





















Date: Friday, November 29, 2019
Time: 10 a.m. Eastern Time
Dial-in Number: Canada/USA: 1-800-319-4610. International Toll: 1-604-638-5340
Participants, please dial in and ask to join the WeedMD call.
Replay Dial-in: Canada/USA: 1-800-319-6413. International Toll: 1-604-638-9010
Replay Access Code: 3858
Replay will be available after 12:00 p.m. Eastern Time, until December 29, 2019.

Access WeedMD’s investor presentation here and 2019 corporate video highlights here.


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.
Follow WeedMD & Color Cannabis: 


facebook, linkedin, twitter, instagram instagram


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

3 months ago

8020 Admin posted a press release WeedMD Provides Corporate Update and Schedules Q3 2019 Earnings Call for November 29th in WEEDMD INC.

Company completes inaugural outdoor cannabis harvest; CX Industries enters commercial operations; Health Canada grants WeedMD approval to produce extracts, edibles & topicals


TORONTO, Nov. 05, 2019 (GLOBE NEWSWIRE) -- 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 an operational update. The Company  has successfully completed the harvest of its 27-acre crop of outdoor cannabis at its Strathroy facility. WeedMD will hold its Q3-19 earnings call to report its financial results on Friday, November 29, 2019 following the release of its quarterly financial filings. Call details found here.


WeedMD is also pleased to announce that it has entered into commercial extraction operations at its Aylmer facility, with the commissioning of its recently installed extraction equipment. In addition, the Company has secured a Health Canada licence to produce and sell cannabis concentrates, edibles and topicals at this location, paving the way for the production and sale of cannabis 2.0 products.


“With the outdoor harvest now complete, we’ve achieved a significant milestone. WeedMD now has a significant amount of cannabis that we intend to bring to market over the current and coming quarters as both dried flower and in various value-added formats,” said Keith Merker, CEO of WeedMD. “Combining our vertically-integrated extraction business at our CX Industries site in Aylmer with our low-cost production of dried flower, we are well positioned to emerge as a leader in the production and sale of extracts.”


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.  See harvest video here.


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.


Access WeedMD’s investor presentation here and 2019 corporate video highlights here. For more information about CX Industries, visit website here.


About CX Industries Inc.

CX Industries is a wholly-owned subsidiary of WeedMD Inc. and operates out of its fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility and specializes in cannabis extraction and processing. The facility is located on four acres of expandable property owned by WeedMD. At peak production in 2020, CX is expected to extract and process more than 200,000 kgs of biomass annually. 

About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.

Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/                                                                                   


For further information, please contact WeedMD Inc.:


For Investor Inquiries:
James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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8020 Admin

3 months ago

8020 Admin posted a press release WeedMD Secures Health Canada Licence for 50,000-Square-Foot Purpose-Built Cannabis Processing Facility in WEEDMD INC.

Stand-alone centre capable of processing and storing more than 40 tons of dried cannabis


TORONTO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- 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 announce that it has secured a Health Canada licence amendment approval for its purpose-built processing facility in Strathroy, Ontario. The stand-alone, 50,000 sq. ft. custom-built structure, located on WeedMD’s 158-acre Strathroy property, will dry, process and cure all remaining outdoor-cultivated cannabis in 2019 and is built to process and store more than 40 tons of dried cannabis biomass. Latest Outdoor Grow video here.


“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” said Keith Merker, CEO of WeedMD. “The harvest has been very successful so far and this represents another milestone as we continue to disrupt traditional modes of cultivation. WeedMD now expects to take a leadership position in Canada for low-cost, high-cannabinoid biomass.”


About WeedMD Inc.


WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD’s adult-use brand Color Cannabis is sold.


Follow WeedMD & Color Cannabis: 


Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/ & https://www.instagram.com/callitcolor/


For further information, please contact:


WeedMD Inc.


For Investor Inquiries:


James Williams
Director, Capital Markets
Email: investor@weedmd.com


For Media Inquiries:


Marianella delaBarrera
VP, Communications & Corporate Affairs
Tel: 416-897-6644
Email: marianella@weedmd.com


To learn more, visit us at www.weedmd.com


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; 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 Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE


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Media Relations posted an update in WEEDMD INC.

5 months ago

WeedMD Outdoor Cannabis Cultivation & Production Update