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 received a Health Canada Standard Processing Licence (“Processing Licence”) for its 158-acre Strathroy facility. This marks an important step in the Company’s ability to scale up production, packaging and distribution of cannabis products from its large scale production site.
“Our recently announced outdoor production expansion combined with this Processing Licence positions WeedMD with the ability to fully execute on its plans to scale up our downstream capacity in packaging and distribution,” said Keith Merker, CEO of WeedMD. “This is another critical milestone that will enable WeedMD to address the current supply bottlenecks being experienced across the Canadian cannabis industry.”
As previously announced, WeedMD plans to increase its total yield to more than 150,000 kgs of quality-driven greenhouse and outdoor cultivation – all of which is expected to be at full capacity in 2020. The Company has applied to Health Canada for an amendment to its Strathroy licence to expand beyond its greenhouse cultivation with an initial 25-acre, low-cost, outdoor grow operation in 2019. Outdoor grow video here. An additional 75 acres of outdoor grow is planned to come online in Phase II in 2020. Link to release here.
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 state-of-the-art greenhouse and outdoor facility located on 158 acres in Strathroy, Ontario. The Company currently has 136,000 square feet of licensed production space between the two sites 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.