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 secured a Health Canada licence amendment approval which allows the Company to expand production into six additional 10,000 square foot cultivation rooms at its state-of-the-art hybrid greenhouse in Strathroy, Ontario. Licensing of the six additional grow rooms, comprising a total of 60,000 sq. ft., increases WeedMD’s licensed production space in Strathroy to 110,000 sq. ft. and increases the Company’s total production footprint, including its indoor cultivation centre-of-excellence in Aylmer, Ontario, to 136,000 sq. ft.
“This is an exciting time for WeedMD – we have just completed another amazing round of cannabis harvests from our two sites and we are now able to capitalize on our large-production greenhouse capacity expansion,” said Keith Merker, CEO of WeedMD. “We have been busy preparing for this pivotal moment and have more than 20,000 cannabis plants that we will begin transplanting into the new rooms immediately. With a total of 10 cultivation rooms now in operation at our state-of-the-art greenhouse, we are responding to the considerable demand for cannabis with an efficient production ramp up in order to meet supply commitments to our patients, provincial partners, seniors care providers, Shoppers Drug Mart, and a growing number of new patients and customers across the country. Additionally, we’re on the cusp of completing the fully-funded retrofit of our hybrid greenhouse expected to yield high-quality, cost-effective cannabis cultivation in 2019.”
WeedMD is well-positioned with an operational production footprint that will be greater than 500,000 sq. ft. in early 2019. For more information, access WeedMD’s investor presentation here and recently updated corporate video here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis and cannabis oil for both the medical and adult-use markets under the Cannabis Act. The Company operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a state-of-the-art greenhouse facility located in Strathroy, Ontario. The Greenhouse currently has 110,000 square feet of licensed space in production and is expected to have a total footprint of more than 500,000 square feet online in early 2019. WeedMD has a multi-channeled distribution strategy that includes supply agreements with Shoppers Drug Mart and provincial distribution agencies, as well as through strategic relationships across the seniors’ market in Canada.
Source: cannabisfn.com
