Message from the CEO, Keith Merker
As reported on December 23rd, we closed our previously announced acquisition of Starseed Holdings Inc. and are now busy integrating into what will be one of Canada’s leading medical cannabis companies. Together, we will kick off 2020 with momentum as our best-in-class cultivation platform supports the Starseed platform which is the most unique medical distribution program in Canada – and all on the back of a strong balance sheet.
In addition to our operations in Aylmer and Strathroy, as well as our offices in London and Toronto, we now add Bowmanville to our list of sites. Much like our own story, Starseed’s medical cannabis roots run deep. It’s an exciting time to be leading this talented team and together, we will create a robust cannabis platform utilizing all five sites, each with their own focus.
Come January, we will keep driving our business forward. We will continue to work diligently in producing and delivering some of the best cannabis this country has to offer. Teams are already working to integrate WeedMD and Starseed as we welcome the newest additions to our leadership team: Angelo Tsebelis, as President of WeedMD; Stephen Ng, as Chief Strategy Officer; and Dr. Peter Blecher as our new Chief Medical Officer. Additionally, we welcomed three new board members including a new executive chair to further strengthen our governance oversight.
We are currently developing a focused corporate strategy to capitalize on the many opportunities that we see for 2020, including a portfolio of new products and expansion into new high-margin markets and business lines. WeedMD is well capitalized and positioned to continue doing what we do best – operating responsibly, staying focused on executing our plan and taking on new opportunities when they make sense and provide returns for our stakeholders. A perfect example of this was our successful outdoor cultivation in 2019. That is also why our own extraction capacity at CX Industries is so important.
As we leave 2019 behind, I want to acknowledge the progress that WeedMD has made. The hard work, integrity, dedication to our craft, and trust in ourselves and each other is a testament to the culture of our organization. We continue to maintain the long-term perspective on our business and the cannabis industry, while keeping our stakeholders engaged and successfully delivering on milestones that will lead us to profitability.
WeedMD has the strength, discipline and momentum to start 2020 off as a trusted leader in the cannabis space. We are preparing to take WeedMD into the future with new products, new brands, a strong management team, and a message that we are here to stay.
I thank you – our shareholders – for standing behind us and supporting the many achievements we accomplished this past year and looking forward to what lies ahead.
Happy New Year!
Chief Executive Officer
CX Industries Update – And then there were two!
Following the announcement in November that CX Industries entered into commercial operations in Aylmer, Ontario, we recently finalized the installation of the second Vitalis Q-90 CO2 extractor. Just in time as we prepare our product submissions to Health Canada and the provinces. We are streamlining both WeedMD’s and Starseed’s product development activities – aligning our robust product portfolios accordingly.
At peak production in 2020 with four machines in operation at CX alone, we will have the capacity to extract and process 200,000 kgs of biomass annually. With the addition of the Bowmanville site, our position is even stronger. We will provide a breakdown of the combined sites and their specialties in the new year.
With production ramping up at CX, we are ensuring that we have the right leadership oversite to set us up for success. Read more about CX Industries’ experienced leadership team that will bring added support to our Aylmer site as we continue to staff for key positions:
Tricia Symmes, General Manager, CX Industries Inc.
Tricia is the General Manager of CX Industries Inc. Tricia leads CX Industries’ commercial operations and the development of new business channels and product development for both the adult-use and medical markets. CX Industries will leverage her extensive knowledge and experience in bringing over 20 pharmaceutical products to market, including developing medical cannabis formulations as it looks to introduce high-margin products of new cannabis classes.
Logan Marynissen, Director of Extraction, CX Industries
Logan provides the technical oversight and onsite leadership in Aylmer pertaining to all extraction activities. Having spent the last four years overseeing Canopy Growth’s extraction operations in Smith Falls, Ontario, he will be instrumental as WeedMD scales its CX operations. He brings experience and deep knowledge in plant extraction methodologies such as: distillation, crystallization, decarboxylation, terpene separation, winterization & supercritical extraction. Logan holds an Honors BSc. Degree in Biological & Pharmaceutical Chemistry from Guelph University.
Karolyn Serba, Business Development Manager, CX Industries
Karolyn works closely with Tricia, Logan and the WeedMD leadership team on strategic account management, business development initiatives, sales contract administration and client management related to CX. Most recently at Liberty Health Sciences Inc., a US-based producer and retailer of cannabis, Karolyn managed business development and client administration. She has a Business Administration & Management diploma from St. Clair College.
Interested in learning more? Sign-up at cxindustries.com to receive updates, news and information on CX Industries.
Thanks to our employees for the hard work in 2019
With so many milestones this year, we put together a highlight reel of all the people at WeedMD who made it possible. Enjoy this homage to our dedicated staff in WeedMD’s Reflections 2019 video:
WeedMD in the News
In case you missed the latest from our newsroom, please find clippings from November and December.
- Infused entertaining: How to incorporate cannabis into dishes and drinks in a smart, safe and delicious way – The Globe and Mail
- Cannabis 2.0: Industry turns a new leaf after tough first year of legal pot – London Free Press
- Outdoor cultivation: Three cannabis CEOs on what they learned after the first harvest – The Globe and Mail
- 5 Canadian Licensed Producers Gearing Up For Cannabis 2.0 – Technical 420
- Canadian multiemployer plan invests in cannabis company WeedMD – Pension & Investments Magazine
- WeedMD to buy union-backed cannabis company Starseed – The Globe and Mail
- WeedMD buys insurance-covered pot provider in $78-million deal – London Free Press
- Investor Ideas Cannabis Potcasts: Podcast Interview with Keith Merker, CEO of WeedMD Inc – Yahoo Finance
Check out our latest news, media interviews and videos here.
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