TORONTO, June 05, 2019 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company) a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce the launch of ColorTM Cannabis (“Color”). ColorCannabis products include a variety of strains, in multiple formats, developed with the same high-quality cannabis that consumers have come to expect from WeedMD. A premium brand that is exclusively available to distributors and select retailers across Canada, Color Cannabis products will be in stores and online as of mid-June 2019.
Color Cannabis was developed specifically for a diverse adult-use market that reflects the range in tastes and preferences of today’s cannabis consumers.
“We worked with globally-renowned agency Sid Lee to launch Color – our first adult-use brand,” said Brett Moon, SVP Sales and Marketing, WeedMD. “The brand is rooted on a simple insight: The world is no-longer seen in black and white. Color Cannabis aims to inspire our consumers to live life and experience cannabis in their own unique and personal way. With its punchy, memorable and uniquely-spelled brand name – coupled with stand-out colour schemes – consumers will appreciate the product inside this forward-thinking brand.”
In addition to premium dried flower, Color will launch new product formats in the coming months including pre-rolls, oils and gel capsules with further consumption formats in development. Color will offer up to 10 unique strains from WeedMD’s proprietary genetics collection that includes several signature strains – Pedro’s Sweet Sativa, Ghost Train Haze, White Shark, ACDC, Ultra Sour and Mango Haze.
“The goal of Color Cannabis is to capture the imagination, individuality and progressive nature of cannabis users. We don’t want to tell our customers how they are going to feel; we want them to experience Color for themselves,” said Keith Merker, CEO, WeedMD. “The launch of Color Cannabis is an important milestone for WeedMD as we expand our product portfolio, welcome new consumer segments and continue to provide Canadians with safe and reliable access to cannabis.”
With its combined indoor and outdoor production footprint of over 5.2M sq. ft. and projected total annual output of 150,000 kgs of cannabis in 2020, WeedMD will have ample supply for the rapidly-growing adult-use market and its growing medical business.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The Company owns and operates two facilities: a 26,000 sq. ft. facility in Aylmer, Ontario and a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario. The Company currently has 136,000 square feet of licensed indoor and greenhouse production space across its facilities and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production space online in 2019. In addition, 27 acres of outdoor cultivation has now been approved for cultivation with first harvest expected in the fall of 2019. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies.
Follow Color Cannabis:
For further information, please contact:
Keith Merker, Chief Executive Officer
Tel: 519-765-2440 Ext. 201
To learn more, visit us at www.weedmd.com
For Media Inquiries:
VP, Communications & Corporate Affairs
Forward Looking Information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s Annual Information Form dated December 13, 2017 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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