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 be included in Shoppers Drug Mart medical cannabis strain verification pilot program with TruTrace Technologies. The firm began supplying Shoppers Drug Mart with medical cannabis back in February 2019.

Shoppers Drug Mart announced yesterday that it would be utilizing TruTrace’s technology at all of its 1,300 store locations as a means of verifying the genetics it is providing to its medical cannabis patients. The process will make the use of medical cannabis more akin to traditional treatment methods through an additional verification step to ensure the product is exactly what the client intends. TruTrace’s tech identifies, tracks, and verifies specific strain information as a means of standardizing data.

Keith Merker, CEO of WeedMD

“We registered 40 of our proprietary cannabis strains with TruTrace last October, recognizing the importance of strain validation as cannabis products advance through the medical and pharmaceutical channels. We’re proud to be the first LP to be included in Shoppers and TruTrace’s recently announced pilot project. Patients and their medical practitioners expect traceability and origin assurance of their cannabis strains as it goes a long way to building continued trust and accountability in our industry.”

Keith Merker, CEO of WeedMD

After collaborating with TruTrace who sequenced and registered WeedMD’s strain information, the firm became the first in the industry to use such data as a part of its sales program. Information down to the molecular level is able to be tracked utilizing TruTrace’s technology, enabling medical patients as well as MD’s to know exactly what is contained in the product they are using.

WeedMD closed yesterdays session at $1.51, closing flat on the day.


FULL DISCLOSURE: WeedMD is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover WeedMD on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

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

WeedMD Sees CFO Nichola Thompson Resign

Today, WeedMD Inc (TSXV: WMD) officially marked the end of an era with the announcement...

Thursday, March 26, 2020, 08:52:56 AM

WeedMD Enters Definitive Agreement To Acquire CannTx For $17.5 Million

WeedMD Inc (TSXV: WMD) this morning announced that it has entered into a definitive agreement...

Wednesday, July 14, 2021, 07:58:41 AM

Boston Beer Company Steps Into Cannabis Space Via Partnership With Entourage Health

Beverage alcohol continues to make inroads into the cannabis marketplace. The Boston Beer Company (NYSE:...

Tuesday, August 31, 2021, 09:11:59 AM

WeedMD Launches Adult-Use Brand: Color

Today WeedMD Inc. (TSX-V:WMD) announced the launch of Color Cannabis. Color Cannabis products include a variety of...

Wednesday, June 5, 2019, 08:06:36 AM