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MMJ Group Holdings welcomes GM appointment at WeedMD subsidiary CX Industries

CX Industries is a wholly-owned subsidiary of WeedMD Inc and operates out of its fully-licensed production facility in Ontario specialising in cannabis extraction and processing.

MMJ Group Holdings Ltd - MMJ Group Holdings welcomes appointment of Tricia Symmes as GM of CX Industries Inc
WeedMD is the parent company of WeedMD Rx, a licensed producer of cannabis products for medical and adult-use markets.

MMJ Group Holdings Ltd’s (ASX:MMJ) investment company WeedMD Inc (CVE:WMD) has welcomed the appointment of Tricia Symmes as general manager of wholly-owned subsidiary CX Industries Inc.

CX Industries specialises in extraction, toll processing and third-party formulation and operates out of WeedMD’s fully-licensed extraction hub in Aylmer, Ontario, Canada.

Newly created role

In this newly created role, Symmes will lead CX Industries’ commercial operations as well as the development of new channels and product development for both the adult-use and medical markets.

CX Industries will leverage Symmes' extensive knowledge and experience in bringing more than 20 pharmaceutical products to market, including developing medical cannabis formulations, as it looks to introduce high-margin products of new cannabis classes.

Lead product innovation 

Also joining the CX team is industry specialist Logan Marynissen, as director of extraction, who is set to optimise WeedMD’s extraction operations and provide technical oversight for the production of new cannabis products.

Symmes and Marynissen will drive CX Industries to commercial-scale and lead product innovation with low-cost cannabis readily available from WeedMD’s outdoor and greenhouse-crafted cannabis.

WeedMD chief executive officer Keith Merker said: “As we strengthen our verticals, build new cannabis product lines and continue scaling for growth, we are positioning WeedMD for long-term success and CX will be a critical component as we execute our new cannabis products strategy.

"We welcome Tricia and Logan, both seasoned leaders from Canada’s pharmaceutical and extraction industries who bring considerable bench-strength and experience to our team.

"With Tricia’s commercial acumen, deep understanding of P&L structures and medical cannabis oversight, and Logan’s rich experience in varied extraction methodologies, they are perfectly suited to lead CX.”

Highest margin of cannabis products 

CX Industries’ Vitalis Q-90 supercritical CO2 extractor recently entered commercial operations.

With its focus on end-product manufacturing and white-labelling, CX expects to produce the highest margin cannabis products for increased profitability.

A substantial portion of WeedMD’s low-cost greenhouse and outdoor biomass is slated for CX Industries.

Its throughput capacity of 26,000 kilograms will double to over 50,000 kilograms per year when a second extractor becomes operative by the end of 2019.

At peak production in 2020 with four machines in operation, CX will have the capacity to extract and process 200,000 kilograms of biomass annually

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