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
the launch of its same-day medical cannabis home delivery service.
The pilot project called ‘PatientDirect’ will service local
patients in the greater Toronto-area starting in June, with order
fulfillment from the Company’s Bowmanville, Ontario distribution
centre located just outside Toronto.
PatientDirect is intended to ease potential
third-party postal and delivery service disruptions resulting from
the current business conditions. The service will be offered to new
and existing Starseed Medicinal patients commencing in June with
eligible patients being notified by email. The service will expand
to WeedMD patients in the coming weeks. Over time it is expected to
become a standard service option.
“Expanding our in-house delivery options for
more timely transport to our medical patients was a strategic goal
for the year which we recently accelerated as an immediate solution
to potential postal delays,” said Angelo Tsebelis, CEO of WeedMD.
“By centralizing a medical fulfillment operation in our Bowmanville
processing centre, we can fast-track deliveries to patients in the
greater Toronto area. Launching PatientDirect required thoughtful
planning and resource allocation and I’m proud of our team for
expediting this to better serve our patients’ needs and add long
term value to our offerings.”
“Ensuring our patients have reliable access to
medical cannabis through a trusted and safe delivery system is
paramount for promoting health and wellness in our community,” said
Moe Jiwan, Chief Customer Officer, WeedMD and Starseed. “After
listening to our patient’s feedback, it was clear there was a need
for a more reliable, safe, and speedy delivery option and we’re
thrilled to confirm the launch of our PatientDirect service.”
PatientDirect Service
While the delivery service will cover the
greater Toronto region at launch, WeedMD expects to expand the
delivery zone in southwestern Ontario by working closely with
logistics partner Prime Time Messenger Inc. Patients with eligible
Ontario postal codes from Bowmanville to Mississauga, and north up
to Aurora (including Vaughn and Markham) can select the same-day
delivery option following order confirmation at the time of
checkout. Orders with applicable limits will be provided the
service free of charge or on par with Canada Post rates if minimum
orders not met.
Termination of Nomination Agreement
WeedMD also announced that the nomination rights
and voting agreement entered into between WeedMD, Keith Merker
(former CEO and board member of WeedMD) and Michael Kraft (former
Chairman of WeedMD) dated December 20, 2019 (the “Nomination
Agreement”) has been mutually terminated effective
immediately. Pursuant to the terms of a termination agreement
entered into by the parties, the Nomination Agreement is of no
further force and effect and no nomination or other rights remain
effective thereunder.
Check here for upcoming corporate
events and to access WeedMD’s latest Investor Presentation and
latest Corporate Update Video.
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
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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