WeedMD CEO on Hiku and the cannabis market today.
“It does not impact WeedMD really in any way shape or form. Hiku brought an interesting aspect to our potential business combination in that they brought retail. WeedMD has always been in existence as an LP with a strong production platform and a strong medical platform and a really thriving business. When Hiku goes away WeedMD is left just as such, a strong platform with cultivation, medical research, partnerships, a great staff that is doing wonderful things every day.” states Keith Merker, CEO of WeedMD Inc. (TSXV: WMD), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: Keith there is a lot about WeedMD on the news with the Hiku deal. You have got $50 million in the bank. You got a Shoppers Drug deal. Talk to me about how this is going to impact you.
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Keith Merker: It does not impact WeedMD really in any way shape or form. Hiku brought an interesting aspect to our potential business combination in that they brought retail. WeedMD has always been in existence as an LP with a strong production platform and a strong medical platform and a really thriving business. When Hiku goes away WeedMD is left just as such, a strong platform with cultivation, medical research, partnerships, a great staff that is doing wonderful things every day.
Tracy Weslosky: Speaking of retail and deals, I see you just signed a supply agreement with the British Columbia Liquor Distribution Branch. For those of us that may not understand this, can you tell us a little bit more about it?
Keith Merker: The wonderful thing that WeedMD has on the go is that we have a massive cultivation expansion underway in Strathroy, Ontario quite near our original facility in Aylmer, Ontario. This facility with the current retrofit that is underway will have over 20 tons of production online, annual run rate capacity by end of 2018. Where is all that wonderful product going to find a home? To your point we have announced recently a deal with the BC Liquor Distribution Branch. We have announced a deal with the Alberta agency who will be distributing product in that province. To your earlier point, we have also announced a deal with Shoppers Drug Mart. We have got more in the hopper, more good news coming. If you can do the math on the numbers I can tell you that all of these various jurisdictions and partners that are looking for product are very pleased and happy and demanding more than we can perhaps even offer currently and for the foreseeable future. Our product is going to find a home and we are going to put out some good numbers as a result.
Tracy Weslosky: Keith we have been watching WeedMD for some time and the InvestorIntel audience is starting to move into the cannabis market. They are a little apprehensive. Can you tell us what the competitive advantages are for WeedMD? I mean, obviously you have got a great deal of cash. I think perhaps your target may be of interest to our audience.
Keith Merker: Sure. Going back to the very early days when the company was formed and founded, some of the members of the original founding team and some of the folks that still continue with us to this day come from very extensive backgrounds in long-term care and seniors care. As a result we have a, let us call it a secret sauce when it comes to that particular demographic. We have utilized that to sign up a number of different long-term care residences under supply and preferred educational provider agreements…to access the complete interview, click here
Disclaimer: WeedMD Inc. is an advertorial member of InvestorIntel Corp.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>