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WeedMD CFO Discusses Niche Growth Plans in Exclusive Interview

Ryan Allway

June 21st, 2017

News, Top News

The Canadian cannabis industry could reach C$22.6 billion in size over the coming years, according to Deloitte, which would eclipse the combined sales of beer, wine, and spirits. The analyst expects consumer demand to rise to 600,000 kilograms of cannabis per year, which is far more than the existing 50 licensed producers grow for medicinal purposes. This expected shortfall could lead to a significant opportunity for existing licensed producers.

WeedMD Inc. (TSX-V: WMD) has spent the past three years developing its cannabis cultivation business. After undergoing a lengthy approval process, Health Canada has granted the company licenses to cultivate and sell cannabis, as well as a license to produce cannabis oils. The company also went public on the Canadian Venture exchange, which means that individual investors can now purchase a piece of the company as it scales up its operations.

CFN Media recently spoke with WeedMD CFO Keith Merker about the company’s progress and future plans in an exclusive interview:

 

Management’s Unique Approach

WeedMD was started by a diverse team that shared a vision to put together a licensed producer in Canada’s burgeoning cannabis industry. Bruce Dawson-Scully spearheaded the project with 22 years of experience in the long-term care industry where he operated nearly 30 homes in Canada. The Dawson-Scully family exited the business in 2008 by selling to Chartwell Retirement Resources (TSX: CSH) – a leading REIT in the long-term care space.

The team noted several parallels between the long-term care and cannabis industry that made it a compelling opportunity. First, the long-term care and cannabis industries are both heavily regulated, which gave management an advantage in understanding day-to-day operating procedures and dealing with regulators. Second, the long-term care industry deals with polypharmacy issues that can be addressed by cannabis-based products and services.

Management plans to lean on their experience in the long-term care industry to develop cannabis-based therapies that fit with the existing policies and procedures already in place. In fact, the Dawson-Scully family had been instrumental in developing these procedures in the first place and are intimately familiar with the key performance indicators and other success metrics that long-term care facilities need to succeed.

Growing Production Capabilities

WeedMD has an existing 26,000 square foot facility located near Toronto that’s capable of producing 1,500 kilograms of medical cannabis per year. The company’s current facility is sited on four acres with an option for four more acres, which should enable it to develop over 220,000 square feet of production space.

In addition to cultivation, the company recently secured a license to produce oils and extracts that will be critical to addressing its long-term care population. The license to produce, and eventually to sell, extracts could also help bolster the company’s profit margins by producing and selling higher-margin products than simply cannabis flower. These products could also include products designed to address the large recreational market.

Management has also carved out a unique niche in the recreational market through its partnership with Van der Pop – a leading Seattle-based brand focused on the under-addressed female segment of cannabis consumers. The company hopes that addressing this segment will provide a unique edge to accelerate revenue and profitability over the long-term.

Looking Ahead

WeedMD Inc. (TSX-V: WMD) represents a unique investment opportunity within the Canadian cannabis industry. With a focus on long-term care and women, the company is targeting two underserved populations in a move that could set it apart from the competition.

For more information, visit the company’s website at www.weedmd.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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