WeedMD Shares Facility Expansion Update

WeedMD (TSXV:WMD) issued an update to shareholders on the expansion for its greenhouse facility in Strathroy, Ontario.

As quoted in the press release:

With the recent licensing of six additional grow rooms bringing licensed production capacity at its hybrid greenhouse to 110,000 [square feet], the Company confirms it is on track to increase its cultivation platform to more than 550,000 [square feet] in early 2019. Latest greenhouse update 2019 video here.

“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. With our fully-financed expansion plans, we are on schedule to rapidly increase our annual production capacity to more than 50,000 [kilograms],” said Keith Merker, CEO of WeedMD. “The Company is fulfilling its supply agreements with provincial distribution agencies across the country and is committed to meeting the needs of existing medical and senior care patients. WeedMD also congratulates Shoppers Drug Mart on its recent licensing to distribute WeedMD-branded products across Canada starting early this year. By pursuing a wide range of high value-added applications for our expanding and funded production, WeedMD is positioning itself as a leading provider of top-quality cannabis products.”

Click here to read the full press release.

Source: globenewswire.com