FinancialBuzz.com’s latest offering, Buzz on the Street, presents our corporate news recap on “WeedMD and Blockstrain Pilot a Proprietary Genome Tracking Program to Protect Cannabis Genetics & Intellectual Property” and “WeedMD Signs Multi-year Retail Sales Distribution Deal with Lifford Cannabis Solutions.”
WeedMD Inc. (OTCQX: WDDMF) (TSX-V: WMD) is a licensed producer and distributor of cannabis and cannabis oil under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). 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 44,000 square feet of licensed space in production and is expected to have a total footprint of more than 500,000 square feet online by year-end 2018.
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.
According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023 while growing at a CAGR of 37% during the forecast period. The growth is explained by the spread of global legalization beginning to take place for medical products as well as recreational. Currently, North America accounts for 95% of the market, while the U.S. makes up more than 90% of the North American region. However, only select states in the U.S. have legalized cannabis for both medical and recreational use, such as California, Nevada, Colorad
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