Delta, British Columbia and Kelowna, British Columbia–(Newsfile Corp. - November 13, 2019) - https://www.investorideas.com/, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts .
Listen to the podcast:
https://www.investorideas.com/Audio/Podcasts/2019/111119-WeedMD.mp3
Hear Investor ideas cannabis potcast on iTunes
In today’s podcast, Innvestorideas.com interviews Keith Merker, CEO of WeedMD Inc. (TSXV: WMD) (OTCQX: WDDMF), an Ontario-based, licensed producer (LP) and distributor of medical-grade cannabis. Merker discusses the Company’s most recent news and developments, as well as both the medical and recreational markets in Canada.
The company recently completed its inaugural 27-acre outdoor harvest and secured Health Canada’s approval for its purpose-built outdoor processing facility in Strathroy, Ontario. The stand-alone, 50,000 sq. ft. custom-built structure, located on WeedMD’s 158-acre Strathroy property is now being used to dry, process and cure all outdoor-cultivated cannabis in 2019 and is built to process and store more than 40 tons of dried cannabis biomass.
As one of the first and only Canadian LPs successfully cultivating cannabis both in a hybrid greenhouse and outdoors, Merker commented on the Company’s recent harvest from its outdoor grow saying: “This is a big disruptor for the company, as well as going forward for the industry. We successfully pulled down north of 20,000 cannabis plants. Some of our flagship strains like our Ghost Train Haze or our Pedro’s Wine Gums for instance were seven feet wide by seven feet tall and producing well over a kilogram of bud per plant.”
“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” said Merker. “The harvest has been very successful so far and this represents another milestone as we continue to disrupt traditional modes of cultivation. WeedMD now expects to take a leadership position in Canada for low-cost, high-cannabinoid biomass.”
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and recreational markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario and is currently licensed to produce approximately 50,000 kg. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc. CX Industries 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.
Merker also discussed the rollout of “Cannabis 2.0” for WeedMD saying: “We have been extracting on site since 2017, but we were doing so at a smaller scale. We do have the experience in-house in producing our own oil and tinctures for the cannabis market. We’ve implemented more industrial-scale production and processing and extraction. First of all we will be producing the ingredients, from the standpoint of crude, winterized crude all the way to distillate. The easiest products for us to get to market right now are, quite frankly for the vape products. That’s something we’re going to be present in the market with and that makes a lot of sense right now for us a company.”
Merker went on to comment on some of the difficulties affecting the medical market, how the company has successfully built its “Color” brand in the recreational market and what investors can look to expect next from WeedMD.
The Company will release its quarterly financials after market close on Thursday, November 28, 2019 followed by a conference call with management on Friday November 29, 2019 at 10 A.M. Eastern Time to report its Q3-19 financial results and operational outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO. Call-in details can be found here.
full release