Friday, September 19, 2025

Latest

WeedMD Closes Bowmanville Facility, 20 Employees Impacted

Sometimes, oncoming events are easy to foresee. Such was the case with WeedMD Inc (TSXV: WMD), whom this morning announced that the company is closing its Bowmanville facility in 2021 as it looks to cut costs and improve operational efficiencies.

Facility closures were alluded to with the announcement of the resignation of the firms CEO, Angelo Tsebelis, earlier this week. While not directly stated in the release, the resulting events were heavily alluded to with the appointment of the firms Executive Chairman as interim CEO, resulting in us stating, “Scorsis also mentioned the keywords of “optimizing the organization,” a phrase within the cannabis space that historically has resulted in staff reductions and facilities seeing their capacity reduced in an attempt to right size operations.

As per this mornings news release, the company has moved all packaging, labelling, and distribution activities to that of its Aylmer, Ontario facility as it looks to consolidate its operations. Going forward the London-area operations, which includes the Aylmer and Strathroy facilities, will be realigned as the firms core operations, as they were prior to the Starseed acquisition, as a means of maximizing the utilization of its facilities. The changes are to be completed this month. The changes are to impact approximately 20 employees.

“While our Aylmer site will focus on product distribution, processing and extraction activities; our Strathroy facility will continue to be the centre of excellence for quality cultivation, biomass production and dried flower processing. For 2021, we are establishing enterprise-wide targets as part of our focus on maximizing margins and increasing revenues.”

George Scorsis, Executive Chairman and Interim CEO

WeedMD last traded at $0.285 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.

Video Articles

Why $10K Gold No Longer Sounds Crazy | Dan Wilton – First Mining Gold

The Pure Silver Set Up! | Joaquin Marias – Argenta Silver Corp

Why $30,000 Gold Isn’t Crazy! | Simon Marcotte – Northern Superior

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

WeedMD First LP to be Included in Shoppers Drug Mart Traceability Program

WeedMD Inc (TSXV: WMD) announced this morning that it is the first licensed producer to...

Tuesday, June 18, 2019, 09:32:32 AM

WeedMD to Transform Aylmer Facility into Extraction and Processing Centre

WeedMD Inc (TSXV: WMD) announced this morning that it would be transforming its Aylmer facility...

Wednesday, May 29, 2019, 08:00:24 AM

WeedMD Joint Venture Partner Pioneer Cannabis Launches First Location

Pioneer Cannabis unveiled their first location today in Burlington, Ontario. A joint venture between WeedMD...

Friday, August 2, 2019, 03:27:18 PM

WeedMD Signs White Label Extraction Agreement With Fire & Flower

It appears that the niche market of extractors within the cannabis sector has seen an...

Tuesday, August 11, 2020, 09:24:22 AM

Public Cannabis Companies Have Already Received More Than $25 Million in Federal Wage Subsidies

In response to the spread of COVID-19, the Canadian Federal Government introduced several programs to...

Saturday, November 14, 2020, 10:00:00 AM