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
it has entered into an exclusive licensing and supply agreement
(the “Agreement”) with Ontario craft cannabis producer CannTx Life
Sciences Inc. (“CannTx”) to release celebrated cultivars “Rockstar
Tuna” and “Royal Goddess” - re-labelled “Crown” - for its Starseed
Medicinal patients. The ‘Limited Edition’ release of these high-THC
whole flower products will be available starting in late May, 2021.
CannTx is a highly regarded licensed producer
that specializes in small-batch, hand-crafted cultivation utilizing
tissue cultured donor-stock, as well as full-spectrum, solventless
concentrates such as ice hash and rosin. Its adult-use brand Royal
City Cannabis Co.’s celebrated cultivars and pressed ice hash
products are sold in the “Craft Cultivator” category in Ontario’s
retail markets.
“This unique partnership is a natural fit for
both WeedMD and CannTx, bringing together complementary renowned
cultivars, with distinctive terpene profiles, that are hand-crafted
for our medical patients by this University of Guelph-affiliated
micro-propagator,” said Joseph Mele, SVP, Commercial Sales and
Marketing, WeedMD. “We continue to advance our drive for excellence
by selecting exclusive licensing partnerships with teams that are
passionate about quality cannabis. Together, we’re proud to be
leading the wave of change that is bringing greater choice,
quality, and value in cannabis products for Canadians.”
“We pride ourselves on hand-crafting artisanal,
small-batch products that are appreciated by discerning patients,
and we’re thrilled to be collaborating with a producer that shares
our brand ethos,” said Buck Young, Director and Co-Founder of
CannTx. “WeedMD is a long-time, highly valued partner that has
built a strong distribution network and reputation for excellence
and we’re looking forward to continuing to bring more innovative
products to market together.”
WeedMD and CannTx have had a long-standing
commercial relationship. In July 2020, the parties announced an
agreement to enhance the Company’s genetics bank with new
cultivars, and to preserve the lifecycle of elite proprietary
strains such as Pedro’s Sweet Sativa using tissue culture
technology. This has allowed WeedMD and its brands to consistently
and perpetually clone, grow and produce the same great products on
which they’ve built a solid reputation. In addition to expanding
WeedMD’s genetics bank and cultivars’ lifecycle with its
rejuvenation techniques, CannTx’s platform also banks genetic
material for secure storage and plant asset preservation.
Access WeedMD’s 2021 Shareholder Newsletter
here. Updated investor presentation and corporate deck can be found
here.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent
company of WeedMD RX Inc. and Starseed Medicinal Inc., licence
holders producing and distributing 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 as well as a fully-licensed
26,000 sq. ft. Aylmer, ON processing facility, specializing in
cannabis extraction. With the addition of Starseed, a
medical-centric operator, WeedMD has expanded its multi-channeled
distribution strategy. Starseed’s industry-first, exclusive
partnership with LiUNA, the largest construction union in Canada,
along with employers and union groups complements WeedMD’s direct
sales to medical patients. The Company maintains strategic
relationships in the seniors’ market and supply agreements with
Shoppers Drug Mart as well as seven provincial distribution
agencies where adult-use brands Color Cannabis and Saturday are
sold.
Follow WeedMD and its brands on
LinkedIn
Twitter:
WeedMD, Color
Cannabis, Saturday
Cannabis &
Starseed
Instagram:
WeedMD, Color
Cannabis, Saturday
Cannabis &
Starseed
For further information, please
contact:
For Investor Enquiries:Valter
PintoManaging Director KCSA Strategic
Communications1-212-896-1254weedmd@kcsa.com
For Media Enquiries:Marianella
delaBarreraVP, Communications & Corporate
Affairs416-897-6644marianella@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; the COVID-19 pandemic;
competition; crop failure; and other risks.
Any forward-looking information speaks only as
of the date on which it is made, and, except as required by law,
WeedMD does not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for WeedMD to predict all such
factors. When considering this forward-looking information, readers
should keep in mind the risk factors and other cautionary
statements in WeedMD's disclosure documents filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the
disclosure documents could cause actual events or results to differ
materially from those described in any forward-looking
information.
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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