WeedMD Inc (TSXV: WMD) announced this morning that it is continuing to develop relationships directly with that of unionized workers. The company has now signed the International Union of Painters and Allied Trades (IUPAT) to a medical cannabis program.
Under the the newly formed relationship, WeedMD’s subsidiary Starseed Medicinal will be the preferred supplier of medical cannabis to the unions 7,000 IUPAT Province of Ontario Health & Welfare Trust Fund participants located within Ontario. The medical cannabis program being implemented by the union will consist of the benefit incurring no co-pay or out-of-pocket expenses for consumers.
It is unclear at this time what amounts are permitted under the new program for IUPAT members, or when the medical cannabis program will be implemented specifically. The union’s website currently makes no mention of the new agreement, although information is anticipated to be released shortly given WeedMD’s announcement of the program.
We are honoured to welcome the IUPAT members to Starseed’s full-service medical platform which is now being sourced from WeedMD’s medical-grade cannabis production platform. Our end-to-end service model eliminates the many barriers associated with traditional ways of accessing cannabis and is transforming how Canadians access medical cannabis. We are pleased to work with progressive partners to continue to legitimize cannabis as an effective treatment option.Angelo Tsebelis, CEO of WeedMD
WeedMD Inc last traded at $0.59 on the TSX Venture.
Information for this analysis was found via Sedar, and WeedMD Inc. The author has no securities related to this organization. WeedMD Inc was previously a client of CanaCom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.