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 IUPAT Province of Ontario Health &
Welfare Trust Fund’s participants. The agreement provides
approximately 7,000 IUPAT members and their dependents with medical
cannabis as an insured benefit, with no co-pay or out-of-pocket
costs.
“We are honoured to welcome the IUPAT members to
Starseed’s full-service medical platform which is now being sourced
from WeedMD’s medical-grade cannabis production platform,” said
Angelo Tsebelis, CEO of WeedMD. “Our end-to-end service model
eliminates the many barriers associated with traditional ways of
accessing cannabis and is transforming how Canadians access medical
cannabis. We are pleased to work with progressive partners to
continue to legitimize cannabis as an effective treatment
option.”
“Providing our members with safe access to a
broad and diverse range of medical cannabis therapies to suit their
individual health and wellness needs is a positive step forward in
sourcing alternatives to traditional pharma therapies,” said
Jeffrey C. Baldwin, President – Benefit Plan Administrators (BPA)
Limited, the administrator of the International Union of Painters
and Allied Trades. “As cannabis industry leaders, Starseed and
WeedMD are trusted sources of medical cannabis and we’re proud to
partner with them to facilitate safe and affordable access 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.
Investor Relations Service Agreement
WeedMD also announced today that it has engaged
KCSA Strategic Communications (“KCSA”), to provide
investor relations services effective as of February 24, 2020 (the
“Service Agreement”). Pursuant to the
Service Agreement, KCSA will provide comprehensive investor
relations services for an initial term of six months and unless
terminated by either party, will thereafter be automatically
renewed on a month-to-month basis. Pursuant to the Service
Agreement, WeedMD will pay KCSA a monthly base fee of US$8,000,
plus reasonable out-of-pocket expenses. KCSA does not
currently own any shares of WeedMD nor does it have any other
direct or indirect interest in WeedMD.
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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