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, manufacturing and
distribution agreement (the “Agreement”) with premium, U.S.-based
cannabis wellness house, MM Technology Holdings, LLC, owner of
Mary’s Brands, and the acclaimed product line, Mary’s Medicinals
(“Mary’s Brands” or “Mary’s”).
Under the terms of the Agreement, as Mary’s sole
Canadian partner, WeedMD will manufacture a suite of Mary’s
Medicinals’ products in-house with its own input biomass at its
state-of-the-art extraction hub CX Industries later this year.
WeedMD will also market, sell and distribute Mary’s Medicinals’
products across Canada’s provincial adult-use and
direct-to-consumer medical channels as it looks to expand new
cannabis offerings to address an underserved wellness and medical
market segment. Widely recognized for its innovative portfolio of
delivery methods, Mary’s suite of cannabis products includes
transdermal gels and patches and topicals.
“As we move into the next level of product
development, it’s imperative that we strategically partner with
established brands that share our core values and Mary's Brands
offers a superior product line that is backed by a team truly
dedicated to ensuring the quality, integrity and efficacy of its
product offerings,” said Angelo Tsebelis, CEO of WeedMD. “We’re
proud to be selected as Mary’s exclusive Canadian producer and
distributor. With our cultivation platform and CX extraction
operations fully ramped-up, there's the added pride of developing
these renowned products in-house as we expand with new cannabis
formats into a lucrative, yet underserved consumer segment.”
“We’re thrilled to be partnering with WeedMD and
its CX extraction team as we execute on our long-term growth
strategy to expand the Mary’s Medicinals brand into Canada,” said
Jacques Panis, CEO of Mary’s Brands. “Our continued desire to
innovate on additional product offerings makes this partnership
fitting as we look to collaborate with a strong, experienced team
that brings unparalleled expertise in cultivation and extraction
along with a proven ability to capture unique, next-level
distribution channels.”
Check here for upcoming corporate
events and to access WeedMD’s latest Investor Presentation and
latest Corporate Update Video.
About Mary’s Brands
Mary's Brands, founded in 2013 and known for its award-winning
transdermal technology found in its cannabis patch and transdermal
dispensing gel pen, is dedicated to pioneering and delivering
natural, THC, CBD and other cannabinoid-infused products to
positively impact the lives of both people and pets. To learn
more about Mary's Brands, visit Mary’s Medicinals here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent
company of WeedMD RX Inc. and Starseed Medicinal Inc.,
federally-licensed producers 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 as well as CX Industries
Inc., a wholly-owned subsidiary which specializes in cannabis
extraction from the Company’s fully-licensed 26,000 sq. ft. Aylmer,
Ontario processing facility. With the addition of Starseed, a
medical-centric operator based 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 in the seniors’ market
and supply agreements with Shoppers Drug Mart as well as six
provincial distribution agencies where adult-use brands Color
Cannabis and Saturday are sold.
Follow WeedMD, Color Cannabis &
Starseed:
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: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 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
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c3552686-e5c6-443c-b5ca-7f373b1442b6
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