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 provide a
comprehensive update on its adult-use market initiatives to expand
the market presence and share of its Color Cannabis and Saturday
brands across Canada.
With the exclusive launch of renowned strain
Black Sugar Rose, the introduction of a vaporization (vape) and
pre-roll line, as well as new nitrogen-infused packaging, the
Company is executing on its commercial growth plans.
“Since the beginning of the year, we’ve made
great strides in accelerating our product innovation, further
enhancing the market appeal of our Color and Saturday Cannabis
brands, as well as expanding distribution to a discerning national
consumer base that is ever evolving," said Stephen Ng, Chief
Commercial Officer of WeedMD. "With the introduction of an
exclusive new strain, and new products, we are poised to continue
delivering an unparalleled customer experience. We have the right
team in place and are well-positioned to leverage our strengths and
assets to accelerate our growth and deliver our highly-regarded
products to consumers.” Color Cannabis – New Product
Strain, Expanded Portfolio And Packaging Innovation
- Black Sugar Rose. Widely lauded in the
Canadian cannabis industry for its genetics bank, WeedMD is pleased
to bring to market Black Sugar Rose, a new Indica-dominant hybrid.
The Company has successfully grown the renowned strain over two
test cycles with favoured results. A cross of the Critical Mass and
Black Domina strains, Black Sugar Rose is described as sweet and
fruity with floral undertones and a cannabinoid profile expected to
be between 18% to 23% THC. Color Cannabis Black Sugar Rose 3.5g
flower will be available to consumers in the fall of
2020.
- Color Cannabis Vapes. The Company is pleased
to announce that the Color Cannabis brand product line now includes
510 thread vape products, giving consumers another way to consume
our award-winning strains, commencing in the fall of 2020. The
Color vape formulations are derived from Ghost Train Haze and our
proprietary Pedro’s Sweet Sativa, preserving their terpene-rich
flavours and cannabinoid profiles.
- Color Cannabis Pre-Rolls. In response to
consumer feedback, the Company is pleased to introduce
strain-specific pre-roll products available as two-packs of 0.35g
pre-rolls. The size and unit count reflects consumer preference for
single-session pre-rolls. These brand-trial inspired pre-rolls are
made with finely milled Ghost Train Haze and Pedro’s Sweet Sativa
whole flower. The Color Cannabis pre-roll products will be
available via provincial distributors and retail outlets starting
in October 2020.
- Nitrogen-Flushed Flower Pouches. With Canadian
consumers expressing dissatisfaction with product bag appeal and
packaging waste, WeedMD is transitioning its Color Cannabis whole
flower products to nitrogen-flushed pouch packaging. Nitrogen
reduces the degrading effects of the oxidation process – the
primary factor in cannabis dryness. This will help preserve the
aromatic terpenes and maintain the integrity of freshly packaged
flower products. Additionally, the transition from plastic jars and
cartons will reduce the total weight of packaging waste by over
80%. These newly-packaged Color Cannabis flower products are
expected to be available starting in late October 2020.
- Cannabis 2.0 Innovation. WeedMD’s adult-use
strategy will also leverage the insights derived from its medical
patients where access to products involve medical oversight and
insurance coverage. Wellness and non-inhalable formats have been
key insights leading to our strategic partnerships with innovative
cannabis lines such as Mary’s Medicinals. The Company is
exclusively bringing Mary’s premium line-up of award winning and
innovative topicals and transdermal gels and patches to Canadian
consumers when production starts later this year.
Scaling Up To Drive Market Presence And
Share
- Expanded Sales & Marketing Team.
With its recently established national sales force supported by a
trade marketing team, the Company is targeting retail markets to
drive sales of Color Cannabis and Saturday brands across all
provinces. Having reached the inflection point for the next leg of
growth, WeedMD’s adult-use brands are now managed by a seasoned
team with a combined 40 years’ experience in consumer packaged
goods and regulated industries at leading global organizations such
as PepsiCo, Kraft, Asahi International, JUUL Labs, and Rothmans
Benson & Hedges.
- Strengthening Relationships with Retailers.
WeedMD is committed to collaborating with retailers across Canada
for mutual success. In servicing its retail partners, the Company
is offering private-label services similar to its recent commercial
agreement with Fire & Flower, as well as providing unique
consumer engagement tools. WeedMD has developed a platform to link
cannabis brands and retailers by allowing sales representatives and
retail store managers direct access to the full catalogue of Color
Cannabis and Saturday promotional tools and product
information.
Color Cannabis and Saturday will continue to
leverage consumer-led insights to bring distinct products to
market. WeedMD is well positioned for growth and is implementing a
consumer-centric approach in its cultivation and production
practices to capture consumer appeal in both retail and
direct-to-patient markets via its wholly owned subsidiary Starseed
Medicinal Inc.. With the upcoming outdoor harvest from its 27-acre
field commencing this fall, WeedMD will be producing additional
products at its extraction hub in Aylmer using low-cost,
terpene-rich, cannabinoid-high biomass.
Information about upcoming corporate events
including conference access and replays, where applicable, can be
found here. Access WeedMD’s latest Investor Presentation here and
Corporate Update Video 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 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
WeedMD (TSXV:WMD)
Historical Stock Chart
From Mar 2024 to Apr 2024
WeedMD (TSXV:WMD)
Historical Stock Chart
From Apr 2023 to Apr 2024