WeedMD Subsidiary Starseed Medicinal Signs LiUNA’s London, Ontario Local to Medical Cannabis Program
January 20th, 2020
Toronto, Canada, January 16, 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 that its newly-acquired subsidiary Starseed Medicinal Inc. (“Starseed”) has launched its full-service medical cannabis program as the preferred supplier of medical cannabis to Labourers’ International Union of North America (LiUNA) Local 1059, headquartered in London, Ontario. The agreement provides approximately 4,000 members and their dependents with medical cannabis as a reimbursed benefit with no co-pay or out-of-pocket costs.
LiUNA is the largest construction union in Canada and LiUNA Local 1059 becomes the fifth LiUNA local to be onboarded onto Starseed’s medical cannabis program following launches in Toronto, Hamilton-Niagara and Windsor. Additional LiUNA locals are expected to join in 2020 along with other new insurance payor groups.
“Starseed’s full service medical platform – coupled with WeedMD’s medical-grade cannabis products – is revolutionizing the way Canadians access medical cannabis and we welcome LiUNA Local 1059 members to our program,” said Angelo Tsebelis, President of Starseed. “WeedMD and Starseed are improving fair and safe access to medical cannabis with an end-to-end service model that eliminates many of the practical and financial barriers associated with traditional ways of accessing cannabis as a medicine.”
“It’s important to the Local 1059 Benefit Trustees that our 4,000 members have access to a broad and diverse range of medical therapies to suit their individual healthcare needs. Having the opportunity to collaborate with some of the most trusted names in medical cannabis was a key driver for entering into this agreement with Starseed,” said Brandon MacKinnon, Business Manager of LiUNA Local 1059. “Additionally, WeedMD has a strong reputation in our city and we’re looking forward to working with this local licensed producer to educate and facilitate medical cannabis access for our members.”
“We’ve kicked off the new year as a freshly integrated company and we’re thrilled at the many strategic business opportunities and partnerships that Starseed is bringing forward – perfectly aligned with our best-in-class cultivation program,” said Keith Merker, CEO of WeedMD. “As long-time supporters of our hometown London community coupled with our strong commitment to medical cannabis, we welcome LiUNA Local 1059 and look forward to the continued engagement with our local patient base.”
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer 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. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations 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 across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its 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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