WeedMD (TSX.V: WMD) (OTCQX: WDDMF) (FSE: 4WE), a federally licensed producer and distributor of medical-grade cannabis, this morning issued an operational update. Per the update, the company has successfully completed the harvest of its 27-acre crop of outdoor cannabis at its Strathroy facility. WeedMD intends to provide metrics, including total yield of the harvest, in conjunction with its upcoming earnings announcement. The company also detailed its entrance into commercial extraction operations at its Aylmer facility, where it has obtained a Health Canada license to produce and sell cannabis concentrates, edibles and topicals. Among other highlights, the press release also included updates regarding ongoing test results, CX Industries’ processing capability and its entrance into commercial operation. In addition, WeedMD announced that it will release its third quarter 2019 financial results after market close on Thursday, November 28, 2019. The company will hold a conference call hosted by CEO Keith Merker and CFO Nichola Thompson at 10 AM ET on Friday, November 29, 2019. Call-in details will be issued in the coming weeks. “With the outdoor harvest now complete, we’ve achieved a significant milestone. WeedMD now has a significant amount of cannabis that we intend to bring to market over the current and coming quarters as both dried flower and in various value-added formats,” WeedMD CEO Keith Merker stated in the news release. “Combining our vertically-integrated extraction business at our CX Industries site in Aylmer with our low-cost production of dried flower, we are well positioned to emerge as a leader in the production and sale of extracts.”
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About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries operates out of the company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. 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. For more information, visit the company’s website at www.WeedMD.com.
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