- Strain-specific ‘Aurum’ vapes produced in-house at CX Industries’ facility expands Company’s medical product portfolio
- Adult-use brand “Color Cannabis” vaporizers slated for release in third quarter, 2020
Toronto, Canada, June 22, 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 the launch of its innovative line of strain-specific medicinal vaporizer pens (vapes). The ‘Aurum’ vapes are available to Starseed patients across Canada as part of the Company’s expanding medical cannabis product portfolio as an insured benefit. WeedMD’s medical vaporization product line will be available to medical patients in the coming weeks and will expand into the adult-use market under its Color Cannabis brand in Q3, 2020.
Produced in-house at WeedMD’s extraction hub CX Industries, Aurum vape cartridges are filled with cannabis concentrates processed from biomass cultivated from the Company’s indoor and outdoor harvests. The strain-specific product line launches with Ghost Train Haze, followed by Mango Haze and soon thereafter a high CBD-strain format.
“Our Cannabis 2.0 strategy evolved after thoughtful consideration of our medical clients’ need for relief from specific indications that may require precise cannabis dosing via alternate delivery methods,” said Angelo Tsebelis, CEO of WeedMD. “When paired with our in-house talent in cultivating, extracting and processing, we developed Aurum as a perfect alternative consumption method. In keeping with our medical roots, we are proud to launch Aurum as a refined medical product that complements our quality-produced portfolio. As an added benefit, in addition to expanding our Aurum product offerings with innovative Cannabis 2.0 formats in the coming months, we will launch a vape product line for the adult-use market under the Color Cannabis brand in the third quarter of this year.”
The Aurum vape hardware is powered by New York-based innovators the Blinc Group, designers of premium customized vaporizers. The sleekly designed units are manufactured to the highest international standards of safety and compliance. The cartridges and batteries contain an industry-standard 510 thread, ensuring compatibility with most other standard 510 threaded cartridges and batteries.
“In developing and producing Aurum vapes – health, safety, and quality are our top priorities,” said Moe Jiwan, Chief Customer Officer, WeedMD. “Aurum is the finished product of many months of testing, perfecting formulations and collaborating between our team and our partner, the Blinc Group, to ensure we deliver a safe and high-quality product to our patients. We are excited to launch Aurum Vapes as we continue to develop unique brands and formulations that offer more choices and, most importantly, access to safe, quality-tested medical cannabis products.”
More about Aurum
Aurum is derived from the Latin and scientific word for gold, as represented on the Periodic Table by the symbol “AU”. Aurum vapes will adhere to the Starseed System™ which simplifies the dialogue around strength and dosage by categorizing medical cannabis according to THC and CBD levels. The new vapes will be launching with Aurum 4, a THC-dominant concentrate, with subsequent releases of Aurum 2, offering a balance of CBD/THC, and Aurum 1 a CBD-dominant concentrate. The batteries and cartridges will be available as a kit which will include the cartridge, battery, and a USB charger. The Starseed product development and innovation team, as well as the Quality Assurance department have taken all necessary precautions to ensure product satisfaction and formulation testing. The hardware development was completed to the highest standards, in accordance with Current Good Manufacturing Practices (cGMP) and Restriction of Hazardous Substances (RoHS) and in accordance with regulation requirements.
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.
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