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WeedMD adds six grow rooms to its Ontario greenhouse, boosting production capacity

The cannabis company’s Strathroy, Ontario greenhouse now has 110,000 square feet of production capacity

Marijuana greenhouse
WeedMd plans to reach an annual production capacity of 55,000 kilograms

WeedMD Inc (TSX:WMD) (OTCQX:WDDMF) announced Thursday it has added six additional grow rooms to its greenhouse in Strathroy, Ontario, boosting its production capacity to 110,000 square foot.

Shares of WeedMD dipped slightly to C$1.39 in Thursday afternoon trading.

READ: WeedMD receives Health Canada approval for addition of six cannabis cultivation rooms

The cannabis company also operates a 26,000 square foot indoor facility in Aylmer, Ontario.

WeedMd is set to increase its cultivation platform to more than 550,000 square feet by early 2019.

“Our experienced operational team combined with our state-of-the-art hybrid greenhouse have enabled us to bring production online faster and more cost-effectively than any other Canadian licensed producer,” said CEO Steve Merker in the company’s press release.

Merker added that WeedMD is nearing an annual production capacity of more than 50,000 kilograms.

Shoppers Drug Mart began distributing the company’s branded products across Canada at the beginning of the year.

WeedMD also teamed up on a joint venture with food and beverage company Phivida Holdings Inc (CSE:VIDA) (OTCQX:PHVAF)to develop CBD-infused beverages.

Beyond Canada, the company recently introduced its cannabis genetics Australia and Israel.

WeedMD is the parent company of WeedMD Rx Inc, a cannabis producer serving medical and adult-use markets.

 

--Contact Lenore Fedow at [email protected]

--Follow her on Twitter@LenoreMariee

 

Quick facts: WeedMD Inc.

Price: 1.24 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $141.85 m
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