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 launched CX Industries Inc. (“CX Industries” or “CX”), a wholly-owned subsidiary that will specialize in extraction, toll processing and third-party product formulation from WeedMD’s fully-licensed Aylmer, Ontario facility. CX Industries will have the capacity to process more than 200,000 kgs of biomass at its peak production in 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 results of its annual general meeting of shareholders held in Toronto, Ontario on June 25, 2019.
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 that it is the first licensed producer (LP) to be included in Shoppers Drug Mart (“Shoppers”) and TruTrace Technologies’ (“TruTrace”, formerly BLOCKStrain Technology Corp.) medical cannabis verification pilot project (the “Pilot Project”).
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 completed the outdoor planting of more than 20,000 fully-rooted cannabis plants at its Strathroy, Ontario property. WeedMD is one of the first licensed producers in Canada to commence outdoor grow operations with its first harvest expected in October 2019. Video of Outdoor Grow Completed.
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 Color Cannabis (“Color”). Color Cannabis products include a variety of strains, in multiple formats, developed with the same high-quality cannabis that consumers have come to expect from WeedMD. A premium brand that is exclusively available to distributors and select retailers across Canada, Color Cannabis products will be in stores and online as of mid-June 2019.
With the “green rush” intensifying, cultivators are tasked with the challenge of meeting consumer demands. As such, cultivators around the world are building large scale facilities in order to produce tons of cannabis. For instance, U.S. states such as Arizona, Colorado, California, and Oregon are creating greenhouses that yield upwards of 50,000 pounds of flower. Similarly, Canadian producers are building mega greenhouses in regions such as Europe and Australia, as their respective markets begin to grow. However, obtaining licensing in order to operate a grow facility is highly competitive. The Government of Canada reported that there were 179 companies that obtained licenses from Health Canada for cultivation, distribution, and production. The number of applicants also sharply rose when Canada fully legalized cannabis back in October 2018. Health Canada has been steadily approving licenses, yet, companies are still challenged with meeting a consumer base of millions. According to Statistics Canada, by the end of the first quarter of 2019, there were reportedly 5.3 million or 18% of Canadians aged 15 years and older who smoked cannabis in the prior 3 months. Among the group, 646,000 users reported that they were trying cannabis for the first time, nearly double the estimated number of 327,000 a year ago. Moreover, almost half of Canadian cannabis users reported that they obtained their products from a legal source compared to just 23% back in 2018. The staggering change highlights just how swiftly the legalization of cannabis has impacted Canada. So far, the Canadian government has limited many companies in terms of their grow house sizes and the quantity of cannabis they can produce. The strictly enforced regulations ultimately led to major shortages across Canada shortly after legalizing cannabis. Nonetheless, more and more companies are gradually obtaining licenses and agreements in order to produce cannabis to meet the accelerating demand. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2016. By 2025, the market is expected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025. WeedMD Inc. , Acreage Holdings Inc. (CSE: ACRG.U), Neptune Wellness Solutions Inc. , MariMed Inc. , Emerald Health Therapeutics Inc.
NEW YORK, May 31, 2019 The rapid emergence of the cannabis industry has caught the attention of Wall Street as a handful of analysts from firms such as RBC Capital Markets, Cowen, Piper Jaffray, and Bank of America Merrill Lynch have all initiated their coverage on the industry. The analysts highlighted various growth factors such as continued clinical trials, lower levels of binge drinking and the use of cannabis as an alternative to opioids, as further propelling the industry growth. Additionally, RBC Capital Markets analyst Nik Modi noted that the cannabis marketplace is primarily being accelerated by the recreational sector, largely due to concentrates and edibles that are on sale now in various regions. Modi also mentioned that investments from other public sectors like the tobacco and beverage industries are also contributing to the growth of the cannabis industry. Currently, the medical cannabis sector accounts for the majority of the overall cannabis market share. However, as the North American adult-use market continues to mature, analysts expect the recreational sector to overshadow the medical sector. Moreover, the recreational market is most prevalent within the North American region, in large part due to its widespread usage in the U.S. and Canada. On the other hand, medical cannabis is much more readily available and accessible globally due to the numerous countries that have adopted medicinal cannabis legislation, as medical cannabis is available to specific patients in countries such as Australia, Argentina, Brazil, France, Germany, Israel and South Korea. Many market analysts project that the proliferation of medical cannabis is expected to complement the growth of the recreational market. And as a result, according to data compiled by ArcView Market Research and BDS Analytics, worldwide consumer spending on legal cannabis was valued at approximately USD 12.2 Billion in 2018. By 2022, consumer spending is expected to reach USD 31.3 Billion while exhibiting a CAGR of 26.7% from 2017 to 2022. WeedMD Inc. (OTC: WDDMF) (TSX-V: WMD), Pyxus International Inc. (NYSE: PYX), HEXO Corp. (NYSE-A: HEXO) (TSX: HEXO), Cresco Labs Inc. (OTC: CRLBF) (CSE: CL), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD)
As the cannabis industry begins to heat up, companies are aggressively seeking employees to fill positions. Decades ago, the cannabis plant was being reintroduced into states such as California, Oregon, Alaska, and Washington. Since then, California and nine more states and the District of Columbia have legalized recreational cannabis use. Moreover, countries across the world have begun to decriminalize or legalize cannabis on some level as, notably, Canada became the second nation ever to legalize cannabis entirely back in late 2018. The rapid expansion and development of the industry further highlight the profound impact cannabis is having around the world. Furthermore, ZipRecruiter reported that cannabis jobs openings increased by 445%, outpacing even the technology (254%) and healthcare (70%) industries. Primarily, positions such as brand ambassadors, sales associates, product managers, and delivery drivers are firmly in demand, according to Glassdoor. Specifically, brand ambassadors and sales associates each accounted for 5% of the job openings, representing the largest share for individual positions while professional and technical fields accounted for 53% of the job openings in 2018. Glassdoor reported that the large discrepancy in the job sector is due primarily to the wide range of available positions. Nevertheless, as the cannabis industry begins to accelerate, it is expected that more professional and corporate roles will be in demand to help businesses comply with tax laws and regulations. Additionally, this workforce integration is also expected to result in the market sustaining its growth, as according to data compiled by Grand View Research, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%. WeedMD Inc. (OTC: WDDMF) (TSX-V: WMD), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Organigram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI), Charlotte’s Web Hldgs Inc. (OTC: CWBHF) (CSE: CWEB), Sorrento Therapeutics, Inc. (NASDAQ: SRNE)
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 that it is converting its fully-licensed 26,000 sq. ft. Aylmer, Ontario facility to a large-scale cannabis extraction and processing operation.
WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis announced today that it expects to file its first quarter 2019 earnings after market close on Thursday May 30, 2019. The Company will host a conference call with management on Friday May 31, 2019 at 10:00 a.m. Eastern Time to report its Q1 2019 financial results and operational outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO of WeedMD.