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 it
has entered into a supply agreement with Pax Labs,
Inc. ("PAX"), a leader in premium cannabis vaporizer
technology, with award-winning devices for both oil concentrates
and flower. WeedMD will become a brand partner and supplier for
the PAX® ERA® Collection in Canada, which includes the
closed-loop PAX® ERA® and ERA PRO™ devices.
WeedMD’s partnership with PAX will accelerate
the growth of the Company's Cannabis 2.0 product strategy as it
expands into new formats using its low-cost, quality-produced,
strain-specific biomass. As the latest cultivator to launch PAX Era
Pods in Canada, WeedMD will produce cannabis oil pods for the
‘pen-and-pod’ vaporizer devices at the Company’s state-of-the-art
extraction hub in Aylmer, Ontario. WeedMD will sell Color Cannabis,
and Starseed Medicinal-branded oil pods nationwide through supply
arrangements with retailers, and its online medical store.
"As we continue to enhance and expand our new
cannabis formats and brand reach for Color and Starseed, we’re
proud to partner with PAX, and we are looking forward to adding its
line up to our growing portfolio of 2.0 brands,” said Angelo
Tsebelis, CEO of WeedMD. “PAX is widely known as a premier
innovator in cannabis product vaporizers. With its award-winning
brand appeal and consumer-favoured hardware offerings, PAX is
perfectly suited to be paired with WeedMD’s quality-produced,
terpene-rich cannabis concentrates.”
"PAX is thrilled to welcome WeedMD, a leader in
the medical cannabis channel in Canada, to our Canadian Brand
Partner family," said Tim Pellerin, General Manager, Canada &
International at PAX Labs. "WeedMD has a record of delivering
high-quality, novel products to patients and consumers in varied
consumption methods. We look forward to growing together across all
channels, rooted in our shared rigor in quality, innovation, and
access to information, to bring these products to medical and
adult-use consumers across the country."
PAX Era Pods, for use with PAX's high-tech oil
vaporizers, are dependable, leak-resistant and designed to be
clog-free. PAX is a market leader with over two million devices
sold worldwide and an established reputation as the best-selling
pen-and-pod system in the U.S.
Information about upcoming corporate events
including earnings conference call details can be found here.
Access WeedMD’s latest investor deck here.
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 a
fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility,
specializing in cannabis extraction. 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 seven
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
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/f34b7ba7-a590-4ee4-b988-4a9084e01c15.
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