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WeedMD makes major stride with strategy with Alberta Gaming, Liquor & Cannabis Commission deal

It will supply the province with branded cannabis products for sale in Alberta’s adult-use market

WeedMD makes major stride with strategy with  Alberta Gaming, Liquor & Cannabis Commission deal
The cannabis-focused junior said the deal built on last month's announcement

WeedMD Inc (CVE:WMD) has made progress in its plan to develop a national distribution platform in Canada as it inked a deal with  Alberta Gaming, Liquor & Cannabis Commission (AGLC).

It will supply the province with branded cannabis products for sale in Alberta’s adult-use market, starting the first day of legal sales.

READ: Orphan drug designation by US FDA spells good news for WeedMD partnership

"We’re proud that the AGLC has selected WeedMD as a cannabis supplier to join its network as it looks to establish a cannabis framework for its adult-use markets,” said Keith Merker, WeedMD's chief financial officer.

"This represents a strategic partnership as we look to expand our product reach across the country to support Canada’s legal adult-use market. Alberta’s high standards align with the highly-regarded quality of our cultivation standards, product portfolio, and commercial practices as we look to meet the expected demand of this new market."

The cannabis-focused junior said the deal built on last month's announcement of WeedMD’s medical cannabis supply agreement with Shoppers Drug Mart.

The latter is one of Canada’s most identifiable brands and when one of the largest pharmacy chains in Canada is working on becoming a leading dispensing agent, there's a sense that tides have shifted in terms of cannabis acceptance across the country.

With more than 1,307 stores across Canada, the company has a deeply entrenched pharmacy network across the country, operating in nine provinces and two territories.

It operates under the Pharmaprix name in Quebec.

WeedMD said today it was actively working with provincial distributors, regulators, and retailers to expand its adult-use distribution programme, particularly asit completed the final stages of its 220,000 sq ft greenhouse retrofit within its 610,000 sq ft greenhouse facility in Strathroy, Ontario.

WeedMD shares closed yesterday in Toronto at C$1.98 and in Thursday added 3.54% to stand at C$2.05.

Quick facts: WeedMD Inc

Price: 0.58 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $121.55 m
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on 12/02/2019

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