Toronto, Canada, May 31, 2019 – WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce that it has secured Health Canada approval for 27 acres of low-cost, outdoor cultivation on its Strathroy, Ontario property. The Company will commence planting more than 20,000 clones in early June with plans to harvest in fall 2019, increasing potential production output by an additional 27,000 kgs.
With a combined indoor and outdoor production footprint of over 5.2 million sq. ft. and projected total potential annual output of 150,000 kgs of cannabis by 2020, WeedMD is now positioned to become one of Canada’s largest cannabis producers.
We have put together the most compelling outdoor cultivation plan in the industry and this licence is the final piece of that plan to fall into place.Keith Merker, CEO of WeedMD
“Our ability to scale, coupled with our team’s proven experience in growing our proprietary genetics outdoors, positions us as a first-mover in the industry,” said Keith Merker, CEO of WeedMD. “We have put together the most compelling outdoor cultivation plan in the industry and this licence is the final piece of that plan to fall into place.”
WeedMD Outdoor Cultivation & Production Strategy
- Health Canada licence amendment secured
- 27-acres of organically-certified soil for newly-licensed Phase I
- Construction of fencing, security, irrigation and other required infrastructure is complete within a fully-funded $2 million budget
- 100 acres of production planned for Phase II in 2020 on the existing property
- Municipal approval secured
- Outdoor cultivation is directly adjacent to WeedMD’s existing licensed greenhouse facility
- All infrastructure and human resources exist onsite
- Cultivation team has significant local outdoor cannabis cultivation experience
- Selected strains proven to excel outdoors in southwestern Ontario
- More than 20,000 clones already rooted in organic material and ready to be planted
“WeedMD is leading the way by bringing its unique outdoor cultivation plan online in record time,” said Derek Pedro, Chief Cannabis Officer of WeedMD. “With construction, irrigation and security complete and more than 20,000 live plants propagated, prepped and ready to be planted, we are on track for a successful harvest this fall.”
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The Company owns and operates two facilities: a 26,000 sq. ft. facility in Aylmer, Ontario and a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario. The Company currently has 136,000 square feet of licensed production space across its facilities and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production space online in 2019. In addition, 27 acres of outdoor cultivation has now been approved for cultivation with first harvest expected in the fall of 2019. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies.
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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.