- Acclaimed strain released via the Ontario Cannabis Store with other provinces coming soon
- Terpene-labelling affirms Company’s pledge to consumer education and product integrity
Toronto, Canada, December 7, 2020 – 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 it has commenced shipping its newest cultivar Black Sugar Rose to the Ontario Cannabis Store for sale to provincial retailers under the Company’s Color Cannabis adult-use brand.
All product images and labels are provided for information and illustrative purposes only, and do not represent the actual cannabis product, product label or its appearance.
As WeedMD’s first cultivar to carry a terpene profile listing, the indica-dominant hybrid whole flower product is currently available with a terpene profile of 3.6 per cent and THC level of 20 per cent. Packaged in nitrogen-flushed, Color-branded pouches, the Company is responding to the call for new cultivars, flower integrity, greater product diversity and less packaging. The move is also part of the Company’s commercial growth plan to enhance market appeal for its Color Cannabis brand and accommodate an ever-evolving, discerning national consumer base.
“Cannabis retailers and consumers are increasingly aware that cannabinoids only tell a part of a flower’s story,” said Angelo Tsebelis, Chief Executive Officer. “By adding terpene listings on our Color brands, we are providing consumers with important product data and information that will enhance their cannabis acumen and empower them to make more informed purchase decisions. Black Sugar Rose packs an impressive 3.6% total terpenes and showcases our cultivation team’s time-tested commitment to quality-production.”
“Cultivating and releasing Black Sugar Rose in Ontario is a proud achievement and pays homage to WeedMD’s cultivation pedigree and tradition for excellence,” said Curtis Wallace, Head of Cultivation. “In selecting new cultivars, we took great care to complement our carefully selected Color Cannabis genetics and product line. This cultivar’s terpene and cannabinoid profile stands up alongside some of our most iconic cultivars, including our exclusively held, top-selling Pedro’s Sweet Sativa.”
Terpenes are organic compounds that make up the aroma and flavour of specific cultivars. Studies suggest that total terpene percentages dictate the intensity of aroma and potential to modify effects of cannabinoids. Moving forward, WeedMD expects to list total terpenes of each Color-branded dried flower product on its new packaging. Visit here to learn more about the value of total terpenes pertaining to WeedMD’s flower products and their terpene profiles.
The Company also announced it has agreed to part ways with Stephen Ng as Chief Commercial Officer effective immediately. “On behalf of the Company, we thank Stephen for his many contributions during the build-up of Starseed Medicinal and its integration into WeedMD,” said Mr. Tsebelis. “Stephen was instrumental in shaping our business as we prepare to enter the next phase of our growth. We wish him the very best in his future endeavours.”
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing 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, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator based in Bowmanville, ON, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with 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; 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 disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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