Wednesday, November 13, 2019

WeedMD expands production

WeedMD, a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce it has secured a Health Canada licence amendment approval to expand production into ten additional 10,000 square foot cultivation rooms and ten new processing rooms at its state-of-the-art hybrid greenhouse in Strathroy, Ontario. Licensing of the 20 additional rooms and ancillary space more than doubles WeedMD’s licensed greenhouse production space in Strathroy. Additionally, 27-acres of outdoor grow on the property was licensed and planted in June of this year.

With a total of eighteen 10,000 square foot hybrid cultivation rooms now licensed, WeedMD’s annual greenhouse cannabis production capacity is more than 20,000 kgs, with more than 25,000 kgs of incremental biomass forecasted to be harvested from the outdoor cultivation in Q4, 2019. The 10 new processing rooms will be used for drying, trimming and processing cannabis.

“In the past year we have successfully expanded our production capacity more than 20-fold, and brought online an efficient quality-driven production platform that is recognized across Canada as a trusted source of medical-grade cannabis,” said Keith Merker, CEO of WeedMD. “The scalability of our production, together with our extraction capabilities at CX Industries, gives us the platform to continue delivering the results that our stakeholders expect.”

Current Licensed Production in Strathroy

• Eighteen 10,000 sq. ft. cultivation rooms, two 5,000 sq. ft. rooms for propagation
• Total of 215,000 sq. ft. currently licensed for cultivation and sale
• Outdoor grow capacity of 27 acres or 1.18M sq. ft.
• Licensed production capacity of over 50,000 kgs annually at full production

Future Production

• Additional 308,000 sq. ft. in two traditional greenhouses expected to come online in early 2020
• Additional 73 acres of outdoor production expected to come online in 2020

The Company recently announced the launch of affiliate CX Industries, an extraction hub that will operate out of its Aylmer, Ontario facility. Together with its greenhouse cultivation and outdoor grow that is in full operation, WeedMD is producing significant low-cost biomass input for its extraction and processing hub. For more information, access CX Industries’ website.

For more information, access WeedMD’s investor presentation here and recently updated corporate video here.

About WeedMD Inc.

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. 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 where WeedMD’s adult-use brand Color Cannabis is sold.

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