WeedMD’s rapidly growing cannabis sales expands with Shopper’s distribution deal
Cannabis in Canada has been legal for medical use since 2001 and more recently for recreational use since October 2018. The same is now the case in California where cannabis is legal for both medical and recreational use. In addition other countries such as the USA and Australia may soon follow Canada’s lead. Many US states already allow cannabis use. In fact, many experts forecast that 2019 will be a huge year for the marijuana industry.
WeedMD Inc. (TSXV: WMD | OTCQX: WDDMF) is a Canadian producer and distributor of medicinal cannabis. The Company collects vital data that contributes to research to enable healthcare providers and their patients with the information they need to fully comprehend the role medical cannabis can play in their pain management regimen. WeedMD Inc. is a federally licensed producer and distributor of cannabis and cannabis oil for both the medical and adult-use markets.
WeedMD medical cannabis now available on Shoppers Drug Mart’s e-commerce site
WeedMD announced yesterday that they have completed their first shipment of medical cannabis products to Shoppers Drug Mart. WeedMD branded products are now available for sale on the pharmacy’s newly-launched medical cannabis sales website.
Shoppers Drug Mart Corporation is a Canadian retail pharmacy chain based in Toronto, Ontario. It has more than 1,300 stores operating under the names Shoppers Drug Mart in nine provinces and two territories.
Keith Merker CEO of WeedMD said: “We continue to expand the accessibility of our products to medical patients in Canada and congratulate Shoppers Drug Mart, one of the most trusted names in pharmacy and patient support services. WeedMD is a committed medical cannabis supplier and educator, and are proud to work with Shoppers Drug Mart to expand the reach of their products to patients looking for safe, consistent, quality cannabis from a trusted source.”
WeedMD’s cannabis production facilities growing rapidly
WeedMD is rapidly expanding their large-scale modern greenhouse that will be the main supply base for its medical cannabis patients as well as for the now rapidly growing recreational market. The Company’s greenhouse currently has 110,000 square feet of licensed space in production and hope to have more than 550,000 square feet online in the first half of 2019. WeedMD has a multi-channeled distribution strategy. This now includes supply agreements with Shoppers Drug Mart and provincial distribution agencies, as well as strategic relationships across the seniors’ market in Canada.
WeedMD’s first harvest was completed in early September 2018 and resulted in an impressive yield. WeedMD marked the event with a “First Harvest” celebration party that welcomed well over 120 community guests including WeedMD’s Board of Directors, local government, business leaders, investors, media representatives, and employees. It was not confirmed if any of the product was sampled on the day but I think everyone is looking forward to the “Second Harvest” celebration party.
2018 Company highlights for WeedMD
- Piloting a proprietary genome tracking program along with Blockstrain to protect cannabis genetics.
- Partnering with a leading Quebec product formulation laboratory to spearhead cannabis product development.
- Developing a pilot project to convert a popular Toronto-based medical cannabis center to a cannabis education center.
- Completing its first shipment of “adult” use cannabis and exporting cannabis genetics to Australia.
2019 could be a big year for the cannabis industry and for WeedMD, as many people are now becoming aware and educated on not only the medicinal, but also the recreational benefits that come from using cannabis.
Matthew Bohlsen is a Senior Editor for InvestorIntel.com. With a Graduate Diploma in Applied Finance and Investment, and a Graduate Diploma in Financial Planning. He ... <Read more about Matthew Bohlsen>