WeedMD Subsidiary Starseed Medicinal Signs the International Association of Heat and Frost Insulators and Allied Workers Loca...
26 February 2020 - 11:00PM
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 subsidiary Starseed Medicinal Inc.
(“
Starseed”) is now the preferred supplier of
medical cannabis to the Insulators Local 95 Health & Welfare
Trust Fund. The agreement provides union members and their
dependents access to medical cannabis as an insured benefit with no
co-pay or out-of-pocket costs.
“Starseed’s unique and proprietary program is
rapidly becoming the platform of choice for benefits providers,
insurers and their members looking to seamlessly add medical
cannabis in a responsible way,” said Angelo Tsebelis, CEO of
WeedMD. “We have rolled-out a streamlined process for introducing
medical cannabis as part of an individual’s health and wellness
journey by developing personalized treatment plans with healthcare
experts, and by simplifying the reimbursement process. As a result,
we are seeing broader acceptance to medical cannabis and we are
pleased to welcome the Insulators Local 95 Health & Welfare
Trust Fund’s members to Starseed’s full-service medical cannabis
program.”
“We are proud to introduce Starseed’s
progressive, full-service medical cannabis platform to our members
and their employers who are looking to expand their health and
wellness therapies with the safe access to medical cannabis,” said
Jeffrey C. Baldwin, President - Benefit Plan Administrators (BPA)
Limited, the administrator of the Insulators Local 95 Health &
Welfare Trust Fund. “Together, we are educating and removing
the financial barriers as we legitimize cannabis as a medical and
wellness therapy for our members.”
Starseed and WeedMD are focused on delivering
premium medical cannabis products through a unique education and
service model. Access WeedMD’s investor presentation 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
partnerships with union groups, employers and benefit providers in
Canada, 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/weedmdTwitter: https://twitter.com/WeedMDInstagram: 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
NgChief Strategy OfficerEmail: investor@weedmd.com
For Media Enquiries:Marianella
delaBarreraVP, Communications & Corporate AffairsTel:
416-897-6644Email: marianella@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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