Toronto, Canada, June 17, 2019—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 completed the outdoor planting of more than 20,000 fully rooted cannabis plants at its Strathroy, Ontario property. WeedMD is 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).
“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.”
WeedMD Outdoor Cultivation:
- Health Canada licence amendment secured on May 31, 2019
- Phase I includes the first 27 of 100 available acres at its Strathroy property
- Construction of fencing, security, irrigation, and other required infrastructure completed on time and within a fully funded $2 million budget
- 73 additional acres of production planned for Phase II in 2020 on the existing property
- Municipal approval secured
- Operational synergies with outdoor cultivation directly adjacent to WeedMD’s existing propagation operations within its licenced greenhouse facility
- All infrastructure and staffing resources exist onsite with a proven team dedicated and experienced in outdoor grow
- WeedMD’s cultivation team brings significant experience growing cannabis outdoors locally
- Selected strains proven to excel outdoors in southwestern Ontario
- Growing from rooted plants allows for higher yields, survival rates, and consistency when compared to starting from seed
- Optimized plan with strains grouped with similar cultivation profiles in five planting zones
- Clones were rooted in organic material for over four weeks to reach acclimatization and optimal transplant size
WeedMD also recently announced the transition of its Aylmer, Ontario facility into a cannabis extraction and processing hub (read extraction news here). With the large volume of high cannabinoid, low-cost input material that the outdoor harvest is expected to generate, the Company is positioned to process and market significant quantities of extracts and concentrates beginning in Q4 2019.
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 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario and a 26,000 sq. ft. extraction and processing facility in Aylmer, Ontario.
The Company currently has 136,000 square feet of licensed indoor and greenhouse production space and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production online in 2019. Additionally, 27 acres or 1,176,000 sq. ft. of outdoor cultivation is licensed and fully operational with first harvest expected in October 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 where WeedMD’s adult-use brand Color Cannabis is sold.
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