TORONTO, June 28, 2021 (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 expansion of its Color Cannabis brand into the Province of New Brunswick, following receipt of its first purchase order from Cannabis NB, the province’s legal recreational cannabis retailer. With the initial order for multi-pack, dried flower pre-roll products in Ghost Train Haze and Pedro’s Sweet Sativa cultivars, adult-use brand Color expands its national distribution coast-to-coast in 90% of Canada’s retail markets commencing July 2021 and could see additional formats released in the province later in the year.
“This has been a break-out year for our award-winning Color Cannabis brand, with its distribution channels now further expanded across Canada alongside 100% fill-rates. We are thrilled to welcome consumers from the Atlantic provinces as we introduce our pre-roll products, currently the industry’s fastest growing cannabis format,” said George Scorsis, Interim CEO and Executive Chair, WeedMD. “With the introduction to New Brunswick’s retail market, both Color and Saturday Cannabis product placements have increased approximately 400% in national retail stores over the last year. We continue to deliver on our promise of providing quality-produced brands and products coast-to-coast, and now with this expanded coverage, we are present in over 90% of Canada’s cannabis markets.”
In addition to New Brunswick, WeedMD’s adult-use cannabis products are available in Ontario, Alberta, British Columbia, Nova Scotia, Manitoba, Saskatchewan, and Quebec.
Updated investor presentation and corporate deck can be found here. Access WeedMD’s 2021 Shareholder Newsletter here and information about upcoming corporate events here.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc., a licence holder 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 Medicinal, 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 eight provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold. WeedMD is also the exclusive Canadian producer and distributor of award-winning U.S.-based wellness brand Mary’s Medicinals sold in both medical and adult-use channels.
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For further information, please contact:
For Investor Enquiries:
Valter Pinto or Scott Eckstein
KCSA Strategic Communications
For Media Enquiries:
VP, Communications & Corporate Affairs
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.
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