Subject to Health Canada's approval of Shoppers Drug Mart's application to be a licensed producer, under the terms of the agreement the Company will supply Shoppers Drug Mart with WeedMD and affiliate branded medical cannabis products. It is expected the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.
“WeedMD’s medical cannabis products have become a trusted source for the seniors’ market and we are excited to expand accessibility to all medical cannabis patients through this strategic agreement with Canada’s leading provider of pharmacy products and services,” said Michael Kraft, Chairman of WeedMD. “As one of the most trusted names in pharmacy retailing and patient support services, we are pleased to be partnering with Shoppers Drug Mart as it looks to WeedMD for the supply of premium medical cannabis. Our strains directed at seniors’ and womens’ health will add a range of depth to Shoppers Drug Mart’s anticipated medical cannabis product offerings.”
WeedMD’s expansion into its recently licensed large-scale, fully-funded modern greenhouse will be the main supply source for its medical cannabis patients in addition to the future adult-use market. For more about the expansion, read here.
For more information, access our investor presentation here and corporate video here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis and oils under the ACMPR. The Company operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and a second cultivation site at its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. WeedMD is focused on providing medical cannabis to the seniors' markets in Canada through its proprietary seniors care program. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company's common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
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