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 the launch of its same-day medical cannabis home delivery service. The pilot project called ‘PatientDirect’ will service local patients in the greater Toronto-area starting in June, with order fulfillment from the Company’s Bowmanville, Ontario distribution centre located just outside Toronto.
PatientDirect is intended to ease potential third-party postal and delivery service disruptions resulting from the current business conditions. The service will be offered to new and existing Starseed Medicinal patients commencing in June with eligible patients being notified by email. The service will expand to WeedMD patients in the coming weeks. Over time it is expected to become a standard service option.
“Expanding our in-house delivery options for more timely transport to our medical patients was a strategic goal for the year which we recently accelerated as an immediate solution to potential postal delays,” said Angelo Tsebelis, CEO of WeedMD. “By centralizing a medical fulfillment operation in our Bowmanville processing centre, we can fast-track deliveries to patients in the greater Toronto area. Launching PatientDirect required thoughtful planning and resource allocation and I’m proud of our team for expediting this to better serve our patients’ needs and add long term value to our offerings.”
“Ensuring our patients have reliable access to medical cannabis through a trusted and safe delivery system is paramount for promoting health and wellness in our community,” said Moe Jiwan, Chief Customer Officer, WeedMD and Starseed. “After listening to our patient’s feedback, it was clear there was a need for a more reliable, safe, and speedy delivery option and we’re thrilled to confirm the launch of our PatientDirect service.”
While the delivery service will cover the greater Toronto region at launch, WeedMD expects to expand the delivery zone in southwestern Ontario by working closely with logistics partner Prime Time Messenger Inc. Patients with eligible Ontario postal codes from Bowmanville to Mississauga, and north up to Aurora (including Vaughn and Markham) can select the same-day delivery option following order confirmation at the time of checkout. Orders with applicable limits will be provided the service free of charge or on par with Canada Post rates if minimum orders not met.
Termination of Nomination Agreement
WeedMD also announced that the nomination rights and voting agreement entered into between WeedMD, Keith Merker (former CEO and board member of WeedMD) and Michael Kraft (former Chairman of WeedMD) dated December 20, 2019 (the “Nomination Agreement”) has been mutually terminated effective immediately. Pursuant to the terms of a termination agreement entered into by the parties, the Nomination Agreement is of no further force and effect and no nomination or other rights remain effective thereunder.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., federally-licensed producers of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario as well as CX Industries Inc., a wholly-owned subsidiary which specializes in cannabis extraction from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility. With the addition of Starseed, a medical-centric operator based in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
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Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s Annual Information Form dated June 21, 2019 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Source: GlobeNewswire (June 18, 2020 – 7:30 AM EDT)
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