WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce it has entered into an exclusive licensing, manufacturing and distribution agreement (the “Agreement”) with premium, U.S.-based cannabis wellness house, MM Technology Holdings, LLC, owner of Mary’s Brands, and the acclaimed product line, Mary’s Medicinals (“Mary’s Brands” or “Mary’s”).
Under the terms of the Agreement, as Mary’s sole Canadian partner, WeedMD will manufacture a suite of Mary’s Medicinals’ products in-house with its own input biomass at its state-of-the-art extraction hub CX Industries later this year. WeedMD will also market, sell and distribute Mary’s Medicinals’ products across Canada’s provincial adult-use and direct-to-consumer medical channels as it looks to expand new cannabis offerings to address an underserved wellness and medical market segment. Widely recognized for its innovative portfolio of delivery methods, Mary’s suite of cannabis products includes transdermal gels and patches and topicals.
“As we move into the next level of product development, it’s imperative that we strategically partner with established brands that share our core values and Mary’s Brands offers a superior product line that is backed by a team truly dedicated to ensuring the quality, integrity and efficacy of its product offerings,” said Angelo Tsebelis, CEO of WeedMD. “We’re proud to be selected as Mary’s exclusive Canadian producer and distributor. With our cultivation platform and CX extraction operations fully ramped-up, there’s the added pride of developing these renowned products in-house as we expand with new cannabis formats into a lucrative, yet underserved consumer segment.”
“We’re thrilled to be partnering with WeedMD and its CX extraction team as we execute on our long-term growth strategy to expand the Mary’s Medicinals brand into Canada,” said Jacques Panis, CEO of Mary’s Brands. “Our continued desire to innovate on additional product offerings makes this partnership fitting as we look to collaborate with a strong, experienced team that brings unparalleled expertise in cultivation and extraction along with a proven ability to capture unique, next-level distribution channels.”
About Mary’s Brands
Mary’s Brands, founded in 2013 and known for its award-winning transdermal technology found in its cannabis patch and transdermal dispensing gel pen, is dedicated to pioneering and delivering natural, THC, CBD and other cannabinoid-infused products to positively impact the lives of both people and pets. To learn more about Mary’s Brands, visit Mary’s Medicinals here.
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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To learn more, visit us at www.weedmd.com
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; the COVID-19 pandemic; 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.
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