WeedMD Inc. (symbol WMD.VN) is pleased to announce it has secured a Health Canada licence amendment approval to expand production into ten additional 10,000 square foot cultivation rooms and ten new processing rooms at its state-of-the-art hybrid greenhouse in Strathroy, Ontario.
Licensing of the 20 additional rooms and ancillary space more than doubles WeedMD’s licensed greenhouse production space in Strathroy. Additionally, 27 acres of outdoor grow on the property was licensed and planted in June of this year.
The Company, one of the first licensed producers in Canada to commence outdoor grow operations with its first harvest expected in October 2019 (video of outdoor grow completed), will commence planting more than 20,000 clones in early June with plans to harvest in fall 2019, increasing potential production output by an additional 27,000 kg.
With a combined indoor and outdoor production footprint of over 5.2 million sq. ft. and projected total potential annual output of 150,000 kg of cannabis by 2020, WeedMD is now positioned to become one of Canada’s largest cannabis producers.
“With our outdoor grow now fully operational, WeedMD has one of the most compelling and low-cost cultivation platforms in Canada,”
said Keith Merker, CEO, WeedMD.
“Planting a variety of proprietary cannabis strains outdoors in June positions the Company to meet and exceed our production forecasts. WeedMD recently launched its adult-use brand Color Cannabis™, and with the introduction of new cannabis extract products in late 2019, we expect to have one of the largest, low-cost supplies of biomass to position ourselves vertically for the emerging extract market.”
Current Licensed Production in Strathroy
- Eighteen 10,000 sq. ft. cultivation rooms, two 5,000 sq. ft. rooms for propagation
- Total of 215,000 sq. ft. currently licensed for cultivation and sale
- Outdoor grow capacity of 27 acres or 1.18M sq. ft.
- Licensed production capacity of over 50,000 kg annually at full production
WeedMD Outdoor Cultivation & Production Strategy
- Health Canada licence amendment secured
- 27 acres of organically certified soil for newly licensed Phase I
- Construction of fencing, security, irrigation, and other required infrastructure is complete within a fully funded $2 million budget
- 100 acres of production planned for Phase II in 2020 on the existing property
- Municipal approval secured
- Outdoor cultivation is directly adjacent to WeedMD’s existing licensed greenhouse facility
- All infrastructure and human resources exist onsite
- Cultivation team has significant local outdoor cannabis cultivation experience
- Selected strains proven to excel outdoors in southwestern Ontario
- More than 20,000 clones already rooted in organic material and ready to be planted
- Additional 308,000 sq. ft. in two traditional greenhouses expected to come online in early 2020
- Additional 73 acres of outdoor production expected to come online in 2020
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.
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