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

Related Articles

medical cannabis
September 30 2018
The companies will collaborate on activities to develop cannabinoid medicines as a medical option in Chile.
Woman holding cannabis leaf
October 15 2018
Canadian subsidiary Crystal Mountain is expanding its range of hydroponics equipment to meet expected demand.
cannabis leaf and green tablets
October 29 2018
The company will now proceed with stage II of the human clinical trial.
Copyright © Proactiveinvestors.com, 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