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 over 51,000 eligible
myHSA participants across Canada. Selling its platform through a
network of over 2,600 advisors, working with over 8,500 employers,
myHSA is widely recognized for its unique digital wellness and
reimbursement platform that provides a flexible, interactive
benefits menu.
“More companies are recognizing that wellness
programs are an effective way to engage employees in healthier
living and we’re pleased to partner with innovative benefits
provider myHSA as it looks to expand access to quality cannabis
products to its 51,000 members,” said Angelo Tsebelis, CEO of
WeedMD. “With the onset of flexible digital solutions, myHSA’s
eligible participants get direct access to our patient portals and
full-service medical cannabis program as well as easy digital
access to claim reimbursement and adjudication.” “At myHSA, we
strongly believe that employees need to be in control of their
wellness journey and with the advent of alternative therapies, we
wanted to partner with a trusted source of medical cannabis
products to ensure our participants have access to top quality
products from Starseed and WeedMD,” said Tim Kane, CEO of myHSA.
“We’ve created a platform that empowers participants to choose how
they would like to spend their wellness dollars as a way to
motivate and inspire a more holistic approach to benefits
coverage.”
Launched in 2013, myHSA has grown and is the
main spending account provider to over 51,000 employees across
Canada. The myHSA system is a software that is used by advisors to
implement different forms of health spending accounts, insurance
products, and other unique employee benefits. More about myHSA
here.
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
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://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
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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