Sign up USA
Proactive Investors - Run By Investors For Investors

WeedMD shares put on growth spurt as it inks new pot supply deal with British Columbia

The firm will supply the Canadian province with branded cannabis products for sale in the adult-use market
WeedMD shares put on growth spurt as it inks new pot supply deal with British Columbia
Pictured is Vancouver, BC

WeedMD Inc's (CVE:WMD) growth trajectory continues - as it inked a cannabis supply deal with the British Columbia Liquor Distribution Branch (LDB) .

Shares in the Toronto-listed group added 4.65% to stand at C$1.80 each.

READ: WeedMD announces termination of arrangement agreement with Hiku Brands

The firm will supply the Canadian province with branded cannabis products for sale in the adult-use market, which will become legal on October 17.

"B.C. is widely recognised for having one of the most mature and developed cannabis consumer markets in Canada," said Keith Merker, chief executive at WeedMD.

"We are very proud that the province will be offering WeedMD's quality products.

"As the provinces develop their cannabis retail strategies, we are emerging as a supplier to multiple distribution channels and categories.

"This deal is another step in our strategy to provide access to our products in emerging legal adult-use markets across the country."

LDB's chief executive Blain Lawson added: "The volume, variety and quality of our product assortment speak to the LDB's commitment to working towards eliminating the illicit market."

WeedMD will supply the B.C. market with cannabis products at the advent of legal sales starting October, 2018.

This latest deal builds upon the recent announcement of WeedMD's respective supply agreements with the Alberta Gaming, Liquor and Cannabis Commission (AGLC) and Shoppers Drug Mart.

The firm is also in the  final  stages of its 220,000 sq ft greenhouse retrofit within its 610,000-square-foot greenhouse facility in Strathroy, Ontario.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full WMD profile View Profile

WeedMD Inc. Timeline

August 30 2018

Related Articles

August 28 2018
Tidal Royalty provides capital to help grow licenced US cannabis firms in exchange for receiving a percentage of future top-line revenues.
Kaneh Bosom Biotechnology: experienced management, access to capital and a clear strategy paves the
August 13 2018
The company says access to capital and a clear strategy will help it succeed

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use