AYLMER,Ontario and TORONTO, April 28, 2017 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (“WeedMD” or the “Company”) is pleased to announce it has received an amendment to its license from Health Canada to include the sale of dried cannabis products from its facility in Aylmer, ON. In addition, the Company was licensed to sell starting materials to patients wishing to grow their own medicine under ACMPR, a practice WeedMD strongly supports. Full product offerings will appear on the WeedMD website when available.
“Obtaining our license to sell dried cannabis products is another major milestone for WeedMD. The expedited nature of the sales amendment came ahead of schedule and accelerates our timeline to revenue generation, and is a direct result of the dedication and quality efforts of our entire team,” said Bruce Dawson-Scully, CEO of WeedMD. “We look forward to opening our doors to patients and are excited to serve both patients in the long-term care and senior market as well the broader medical patient community.”
The license capacity has been amended and the fully retrofitted 26,000 sq. ft. indoor facility is now licensed to produce and sell 1,200kg of dried medical cannabis. In anticipation of the approval to sell, the Company has produced an inventory of approximately 300kg of dried cannabis product. The facility is currently capable of producing up to 1,300kg of dried cannabis per annum, with intentions to build out an oil extract lab as well further mothering and nursery rooms that could augment current production by up to 40%.
For more information, access our investor presentation on our website here. Also, please see the Company’s press release yesterday regarding its recent go-public transaction (WeedMD to Trade on the TSX Venture Exchange).
About WeedMD Rx Inc.
WeedMD Rx Inc. is a licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). WeedMD operates a 26,000 square foot, scalable production facility in Aylmer, Ontario with four acres of property for future expansion. WeedMD is focused on providing consistent, quality medicine to the long-term care and assisted living markets in Canada through its comprehensive platform developed exclusively for that industry. WeedMD is dedicated to educating healthcare practitioners and furthering public understanding of the role medical cannabis can play as a viable alternative to prescription medication in relieving a variety of chronic medical conditions and illnesses.
To learn more, visit us at www.weedmd.com.
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This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Neither 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.
CONTACT: Contact Information For further information, please contact: Keith Merker Chief Financial Officer WeedMD Rx Inc. 519-765-2440 Ext. 222
Source: Nasdaq Two