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WeedMD invests in Snipp Interactive Inc; to develop new marketing and sales programs

Last updated: 11:36 21 Mar 2018 EDT, First published: 07:36 21 Mar 2018 EDT

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The parties also struck a deal whereby Snipp will design and deploy marketing solutions

Medical cannabis supplier WeedMD Inc (CVE:WMD, OTC:WDDMF) is to invest C$250,000 into Snipp Interactive Inc - the global provider of digital marketing promotions.

The companies also struck a deal whereby Snipp will design and deploy marketing solutions for direct sales, retail sales, referral/sourcing programs and other programs.

READ - WeedMD ventures into blockchain with Blockstrain Technology Corp investment

"As we move into new markets, it's important to provide informed and engaging online experiences to consumers," said Bruce Dawson-Scully, chief executive of WeedMD.

"By utilizing Snipp's proprietary solutions to develop and implement new marketing and sales programs, we plan to deepen our relationship with current and future customers.

"We are excited to roll-out these campaigns to expand market awareness, enhance communication touch points and further engage our consumers."

Atul Sabharwal, chief executive at Snipp, added: "Snipp is committed to positioning WeedMD as not only a market leader, but as a pioneer in leveraging emerging technologies as they build their business to drive engagement and loyalty.

"Our focus will initially be to help raise market awareness along with acquisition and retention of medical patients, and eventually for retailers as the adult use market emerges."

The investment into  of $250,000 into Snipp will be on the same terms and condition as its (Snipp's) recently announced financing at 10 cents per share, WeedMD added

As part of the agreement, WeedMD will have the right to nominate one member to the Snipp advisory board.

READ THE BIG PIC - WeedMD eyeing the bigger league of Canadian cannabis producers 

It's a busy week for the cannabis group.

On Monday, it said it had strategically invested in Scorpion Resources Inc, which is being renamed Blockstrain Technology Corp.

Blockstrain says it combines traditional cannabis culture with modern crypto-technology to deliver an "intelligent platform" powered by the people.

WeedMD shares shed 0.52% in Toronto to stand at C$1.92.

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