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 that it is has confirmed the appointment of Nichola Thompson to the position of Chief Financial Officer. The Company also announced it is expanding its commercial footprint to include corporate offices in downtown Toronto, and London, Ontario – both of which will open in spring 2019.
“Nichola is a dynamic leader with over 15 years of finance leadership experience at Discovery Air, Deloitte & Touche and Siemens Canada. Since joining WeedMD in January 2018, she has become an integral member of our executive team, taking on many key initiatives including systems integration, financial reporting, capital allocation and most recently was the lead in securing and finalizing the $39M secured credit facility with BMO,” said Keith Merker, CEO, WeedMD. “Additionally, we are thrilled to announce our expanded footprint in Toronto and London as we continue to diversify and expand our commercial initiatives across Canada’s largest province which is expected to capture 65% of Canada’s legal cannabis market*.”
WeedMD Expands Commercial Footprint
WeedMD’s Toronto office located on Queen Street West opened its doors in April 2019 and houses the leaders and their teams in sales & marketing, business development, investor relations, communications and corporate affairs. The London office, located downtown off Richmond Street, is slated to open later this spring and will house the finance team and the administrative offices of the CEO and CFO.
WeedMD’s corporate offices will accommodate the company’s plan for future organizational growth and provide it with greater access to Canada’s business networks as well as a strong pool of corporate talent to drive commercial growth across the country.
*Deloitte: 2018 Cannabis Report
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The Company owns and operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario. The Company currently has 136,000 square feet of licensed production space across its facilities and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production in addition to more than 25 acres of outdoor cultivation space online in the first half of 2019.
WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies.