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 appointment of Lincoln Greenidge as Chief Financial Officer. He
succeeds Nichola Thompson, who will be resigning from her role as
CFO effective April 30, 2020.
Most recently the CFO for LSC Lithium
Corporation (“LSC”), Mr. Greenidge successfully managed LSC’s
strategic review which culminated in the sale of LSC for $110
million. He previously served as the CFO of LeadFX and was the
corporate controller of HudBay Minerals Inc.
“We are pleased to welcome Lincoln to our
leadership team. His experience will be essential to leading our
financial organization, supporting the integration of WeedMD’s
recent acquisition of Starseed and the continued commercialization
of our cultivation platform,” said Angelo Tsebelis, CEO of WeedMD.
“I also want to thank Nichola Thompson for her service as our CFO.
During the past two years, she has made a number of lasting
contributions to our organization’s success. We wish her the best
in her future endeavours and thank her for assisting us through
this transition.”
Mr. Greenidge commented, “I am excited to join
WeedMD and to lead its finance organization during such an exciting
period for the Company. I look forward to contributing to WeedMD’s
future success as the Company continues to expand its distribution
channels and execute on its commercialization plans.”
A recipient of multiple awards, Mr. Greenidge
has been named Top Professional in Finance, awarded by the
International Association of Top Professionals in 2016. Mr.
Greenidge obtained his Bachelor of Commerce in Accounting with
Honours from the University of Ottawa. He has authored multiple
published articles focused on cash flow and the fundamentals of
successful organizations, including: "People, Progress, Technology"
- PULSE - July 8th, 2015; “Spring Cleaning for Accounts” – PULSE –
June 4, 2015; and "End of Goodwill Accounting" - PULSE - April 22,
2015.
Access WeedMD’s investor presentation here.
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 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
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
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.
_________________________
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