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 newly-acquired subsidiary Starseed Medicinal Inc.
(“Starseed”) has launched its full-service medical cannabis program
as the preferred supplier of medical cannabis to Labourers’
International Union of North America (LiUNA) Local 1059,
headquartered in London, Ontario. The agreement provides
approximately 4,000 members and their dependents with medical
cannabis as a reimbursed benefit with no co-pay or out-of-pocket
costs.
LiUNA is the largest construction union in
Canada and LiUNA Local 1059 becomes the fifth LiUNA local to be
onboarded onto Starseed’s medical cannabis program following
launches in Toronto, Hamilton-Niagara and Windsor. Additional LiUNA
locals are expected to join in 2020 along with other new insurance
payor groups.
“Starseed’s full service medical platform –
coupled with WeedMD’s medical-grade cannabis products - is
revolutionizing the way Canadians access medical cannabis and we
welcome LiUNA Local 1059 members to our program,” said Angelo
Tsebelis, President of Starseed. “WeedMD and Starseed are improving
fair and safe access to medical cannabis with an end-to-end service
model that eliminates many of the practical and financial barriers
associated with traditional ways of accessing cannabis as a
medicine.”
“It’s important to the Local 1059 Benefit
Trustees that our 4,000 members have access to a broad and diverse
range of medical therapies to suit their individual healthcare
needs. Having the opportunity to collaborate with some of the most
trusted names in medical cannabis was a key driver for entering
into this agreement with Starseed,” said Brandon MacKinnon,
Business Manager of LiUNA Local 1059. “Additionally, WeedMD has a
strong reputation in our city and we’re looking forward to working
with this local licensed producer to educate and facilitate medical
cannabis access for our members.”
“We’ve kicked off the new year as a freshly
integrated company and we’re thrilled at the many strategic
business opportunities and partnerships that Starseed is bringing
forward – perfectly aligned with our best-in-class cultivation
program,” said Keith Merker, CEO of WeedMD. “As long-time
supporters of our hometown London community coupled with our strong
commitment to medical cannabis, we welcome LiUNA Local 1059 and
look forward to the continued engagement with our local patient
base.”
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
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 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://www.linkedin.com/company/weedmd/?originalSubdomain=frTwitter:
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 WeedMD Investor
Enquiries:Stephen NgChief Strategy OfficerEmail:
investor@weedmd.com
For WeedMD Media
Enquiries:Marianella delaBarreraVP, Communications &
Corporate AffairsTel: 416-897-6644Email: marianella@weedmd.com
For LiUNA Media
Enquiries:Victoria MancinelliDirector of Communications,
Public Relations and MarketingTel: 1-289-681-1703Email:
vmancinelli@liunaopdc.org
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; 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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