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WeedMD Inc.

WeedMD completes first shipment of medical cannabis products to Shoppers Drug Mart

The company’s branded products are available on the pharmacy’s new web site

Cannabis growing facility
Last month, Eight Capital rated the stock of cannabis distributor WeedMD as a Buy

WeedMD Inc (OTCMKTS:WDDMF) (CVE:WMD) announced Monday that it has completed its first shipment of medical cannabis products to Shoppers Drug Mart.

The distributor said in a statement that its WeedMD-branded products are now available for sale on the pharmacy’s new medical cannabis sales website: cannabis.shoppersdrugmart.ca.

READ: WeedMD moving with evolving cannabis industry, says Eight Capital, rating shares a Buy

WeedMD operates two facilities: a 26,000-square-foot indoor facility in Aylmer, Ontario, and a state-of-the-art greenhouse in Strathroy, Ontario. The greenhouse currently has 110,000 square feet of licensed space in production and is expected to have a total footprint of more than 550,000 square feet online in the first half of 2019.

The company said the expansion will be the main source of supply for its medical cannabis patients as well as for the growing recreational market.

“As a committed medical cannabis supplier and educator, we are proud to work with Shoppers Drug Mart to expand the reach of our products to patients looking for safe, consistent, quality cannabis from a trusted source,” WeedMD CEO Keith Merker said.

The stock of WeedMD fetched C$1.18 in Friday’s Canadian trading. It traded at US$1.35 on the OTC Markets.

Last month, the company was rated a Buy by Eight Capital, which said the company is keeping up with changes in the marijuana industry.

Contact Dennis Fitzgerald at [email protected]


 

Quick facts: WeedMD Inc.

Price: $1.60

Market: TSX-V
Market Cap: $182.03 m
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