Breaking News: WeedMD to Secure Dealer’s License from Health Canada as a Next Step in its R&D Strategy

WeedMD Inc. (OTC: WDDMF) (TSX-V: WMD), a federally-licensed producer and distributor of medical cannabis, has submitted an application to obtain a Health Canada Dealer’s License (“Dealer’s License”) under the Controlled Drugs and Substances Act (“CDSA”) and its associated regulations. The Dealer’s License will enable WeedMD to conduct research and development (“R&D”) and store cannabis derivatives that are not currently covered under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Dealer’s License also positions the Company to export cannabis oils and concentrates to international markets, as well as to process natural health products.

“As we ramp up our cannabis production to a rate of more than 20,000 kg annually, the Company will be supporting its commercial initiatives with R&D to expand its product offerings for domestic and international markets. With our new state-of-the-art laboratory at the Aylmer facility, we will be able to conduct research to bring novel formulations and dosing methods to market with a Dealer’s License,” said Dr. Luc Duchesne, Chief Scientific Officer of WeedMD. “Additionally, we will be able to test cannabis products in-house which will increase efficiencies and enable us to collect valuable data about strains and their desired effects.”

This is another R&D initiative that WeedMD is undertaking, having recently announced its partnership with the world-renowned Technion-Israel Institute of Technology here. Under the WeedMD-Technion partnership, WeedMD will submit 25 of its strains for inclusion in the Cannabis Data Project, which maps strains and their efficacy in treating certain medical conditions. As there are only a limited number of Dealer’s Licenses amongst the 90 Licensed Producers in Canada, securing this license is a critical step in advancing WeedMD’s medical and recreational growth strategies. The Company will work both independently and with research institutions to accelerate innovation for cannabinoid applications and delivery systems and further its position in the global cannabis market.

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