WeedMD Inc. (TSXV: WMD) announced this morning that its shareholders have recently approved the plan to change its corporate name to Entourage Health Corp. The approval was locked in during the company’s annual shareholders meeting on June 30, 2021.
“Entourage Health represents WeedMD’s evolution [..] we are a group of professionals who always put the consumer and patient first,” said WeedMD Interim CEO George Scorsis. The corporate name change is one of the major acts by Scorsis since taking over the helm on January 2021, with his leadership hinting on “optimizing the organization”.
While the company is yet to disclose the timeline for the corporate rebrand, it relayed that the name change will happen “over the next few months”. The company also expects to provide details over the coming days on the rebrand as it relates to its common shares on the TSX Venture Exchange trading under the new name.
While WeedMD undergoes its process of changing its name to Entourage Health, its Health Canada licence will continue under the company’s wholly-owned subsidiary WeedMD RX Inc.
The company reported Q1 2021 financials on June 29, 2021, with $10.3 million in revenue and a $7.0 million net loss.
WeedMD last traded at $0.285 on the TSX Venture.
Information for this briefing was found via Sedar and WeedMD. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.