Following the fulfilment of its first purchase order to Société québécoise du cannabis (SQDC), the Company and local partner ROSE LifeScience affirm Color Cannabis products now available.
TORONTO, Feb. 01, 2021 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally licensed producer and distributor of medical-grade cannabis confirmed its adult-use products sold under the Color Cannabis brand are now available for purchase in the province of Quebec. Following the completion of its first shipment to the Société québécoise du cannabis (“SQDC”), products are being distributed locally via Quebec-based cultivator and WeedMD’s local partner ROSE LifeScience Inc. (“ROSE”).
Color Cannabis dried flower products now available in the province’s adult-use market include its cultivars Pedro’s Sweet Sativa and Ghost Train Haze.
“Securing access into new markets is a key strategic objective for us in 2021 and we’re thrilled to be expediting our Color Cannabis expansion kick-off with confirmation that our products are now available in the Quebec market. We’re honoured that Color is among this selection,” said George Scorsis, Executive Chairman and Interim CEO, WeedMD.
Corporate Secretary Appointment
WeedMD also announced today that its board of directors (the “Board”) has appointed Vincent Doré, to the role of Corporate Secretary. Currently the Vice President of Legal, Vincent’s role is expanded to include oversight of WeedMD’s corporate governance framework and ensuring Board compliance in accordance with statutory and regulatory requirements. As an experienced leader well-versed in the cannabis and consumer packaged goods (CPG) industries, Vincent joined WeedMD in September 2020. Previously, he led the legal, regulatory compliance and human resources teams at another licensed cannabis producer, and served as legal counsel for the Ontario Cannabis Store, after several years as legal counsel for George Weston Limited and Loblaw Companies Limited. Vincent is a graduate of the joint J.D./M.B.A. program at Osgoode Hall Law School and the Schulich School of Business, and is fully bilingual in French and English.
About ROSE LifeScience Inc.
As a private Quebec company, founded by a group of seasoned executives with extensive experience in highly regulated industries, ROSE LifeScience is committed to ensuring that Quebec benefits from the responsible production, sale and use of cannabis. From cannabis cultivation to marketing and logistics, ROSE plays a key role in the Quebec market. ROSE not only produces remarkable cannabis, but also offers complete marketing services to selected producers to encourage diversified offerings in the Quebec market.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing 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, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with 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.
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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.
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