WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) announced Monday that it has secured an amendment to its Health Canada licences allowing it to produce, package, sell and distribute all cannabis formats directly from its 610,000 square-foot flagship cultivation and processing site in Strathroy, Ontario.
“The ability to sell our growing portfolio of cannabis products to provincial distributors and the medical market from our Strathroy cultivation hub will accelerate our path to profitability as we continue to execute on our consolidation plans - achieving operational efficiencies with speedier product fulfilment,” said CEO Angelo Tsebelis in a statement.
“Additionally, it provides us with the flexibility to further commercialize the ready-to-use space at our modern greenhouse in Strathroy for the production and shipment of high-margin new cannabis formats such as a variety of extracts, topicals and edibles. It also provides a runway for growth should we elect to scale-up or consider future expansion opportunities and partnerships.”
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WeedMD’s hybrid-greenhouse in Strathroy is currently operating at full capacity under a 210,000 square-foot canopy alongside additional drying and processing space. The company’s 27-acre, low-cost, outdoor grow, now in its second year of operation, is located on-site along with a 50,000 square-foot stand-alone, licensed processing facility dedicated for outdoor cannabis processing.
The outdoor harvest is expected to kick-off in early October 2020 and will provide terpene-rich, high-cannabinoid input material for extraction and dried flower product formats such as pre-rolls and ready-to-roll.
WeedMD’s fully licensed, extraction centre-of-excellence in Aylmer, ON produces the company’s cannabis derivatives, and its fully-licensed Bowmanville, ON facility houses the company’s medical fulfillment and distribution activities as well as its award-winning client services team.
WeedMD is the parent company of WeedMD RX Inc and Starseed Medicinal Inc federally licensed producers of cannabis products for both the medical and adult-use markets.
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