WeedMD Realigns Reporting Dates and Confirms Fiscal Year 2019 Financials to be Filed After Market on June 10, 2020
May 19 2020 - 07:00AM
WeedMD Inc. (
TSX-V:WMD)
(OTCQX:WDDMF) (FSE:4WE) (“
WeedMD”
or the “
Company”), a federally-licensed producer
and distributor of medical-grade cannabis, announced today that it
will file its financial statements for the fiscal year ended
December 31, 2019 after market close on June 10, 2020. Due to
unforeseen circumstances and logistical challenges resulting from
the COVID-19 pandemic, WeedMD’s auditors requested a date
postponement and re-alignment within the approved 45-day exemption
window provided by the regulators*. As a result, WeedMD will now
hold a conference call with management on
Thursday, June
11, 2020 at 10 a.m. Eastern Time to report the financial
results for the period and provide the Company’s operational
outlook for 2020.
The call will be hosted by Angelo Tsebelis, CEO
of WeedMD and CFO Lincoln Greenidge. Management will be available
for analyst and media questions following opening remarks.
Conference Call Details:
Date: |
Thursday, June 11, 2020 |
Time: |
10 a.m. Eastern Time |
Dial-in Number: |
Canada/USA: 1-800-319-4610. International Toll: 1-604-638-5340
Participants, please dial in and ask to join the WeedMD call. |
For upcoming corporate event details, check here. Access
WeedMD’s latest investor deck here.
*Due primarily to the impact of the coronavirus
(COVID-19) pandemic, the Canadian Securities Administrators (CSA)
and the Toronto Stock Exchange (TSX) have granted issuers a blanket
45-day extension for filing financial statements, management’s
discussion and analysis (MD&A), annual information forms
(AIFs), technical reports and business acquisition reports (BARs).
BMO also consented to the extension, in accordance with the credit
agreement dated March 29, 2019. WeedMD confirms that all
insiders are subject to a blackout period during this
extension.
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:
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:Valter
PintoManaging Director KCSA Strategic
Communications1-212-896-1254weedmd@kcsa.com
For Media Enquiries:Marianella
delaBarreraVP, Communications & Corporate
Affairs416-897-6644marianella@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
WeedMD (TSXV:WMD)
Historical Stock Chart
From Feb 2024 to Mar 2024
WeedMD (TSXV:WMD)
Historical Stock Chart
From Mar 2023 to Mar 2024