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 and management’s discussion and
analysis for the quarter ended June 30, 2020 after market on
September 23rd, 2020. Due to unforeseen circumstances and
logistical challenges resulting from the COVID-19 pandemic,
WeedMD’s auditors requested a date postponement within the blanket
45-day exemption window provided by the regulators*. As a result,
WeedMD will host a conference call with management on
Thursday, September 24th, 2020 at 10 a.m. Eastern
Time to report the financial results for the period.
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, September 24th, 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 |
Replay Dial-in: |
Canada/USA: 1-800-319-6413.
International Toll: 1-604-638-9010 Replay Access Code: 5146
Available after 12:00 p.m. Eastern Time, until October 24,
2020 |
Information about upcoming corporate events
including earnings conference call details can be found here.
Access WeedMD’s latest Investor Presentation here and Corporate
Update Video here.
*The Company is relying on the exemption
provided in Ontario Instrument 51-505 - Temporary Exemption from
Certain Corporate Finance Requirements with Deadlines during the
Period from June 2 to August 31, 2020 of the Ontario Securities
Commission (and similar exemptions provided by other Canadian
securities regulators). 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
reflecting the principles contained in section 9 of National Policy
11-207 – Failure to File Cease Trade Orders and Revocations in
Multiple Jurisdictions until the filings during this extension.
The Company confirms that, other than as
disclosed in prior press releases, there have been no additional
material business developments since the filing on July 14, 2020 of
the Company's interim financial report for the three months ended
March 31, 2020.
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; the COVID-19 pandemic;
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 disclosure documents filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the
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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