TORONTO, March 26, 2020 (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 appointment of Lincoln Greenidge as Chief Financial Officer. He succeeds Nichola Thompson, who will be resigning from her role as CFO effective April 30, 2020.
Most recently the CFO for LSC Lithium Corporation (“LSC”), Mr. Greenidge successfully managed LSC’s strategic review which culminated in the sale of LSC for $110 million. He previously served as the CFO of LeadFX and was the corporate controller of HudBay Minerals Inc.
“We are pleased to welcome Lincoln to our leadership team. His experience will be essential to leading our financial organization, supporting the integration of WeedMD’s recent acquisition of Starseed and the continued commercialization of our cultivation platform,” said Angelo Tsebelis, CEO of WeedMD. “I also want to thank Nichola Thompson for her service as our CFO. During the past two years, she has made a number of lasting contributions to our organization’s success. We wish her the best in her future endeavours and thank her for assisting us through this transition.”
Mr. Greenidge commented, “I am excited to join WeedMD and to lead its finance organization during such an exciting period for the Company. I look forward to contributing to WeedMD’s future success as the Company continues to expand its distribution channels and execute on its commercialization plans.”
A recipient of multiple awards, Mr. Greenidge has been named Top Professional in Finance, awarded by the International Association of Top Professionals in 2016. Mr. Greenidge obtained his Bachelor of Commerce in Accounting with Honours from the University of Ottawa. He has authored multiple published articles focused on cash flow and the fundamentals of successful organizations, including: “People, Progress, Technology” – PULSE – July 8th, 2015; “Spring Cleaning for Accounts” – PULSE – June 4, 2015; and “End of Goodwill Accounting” – PULSE – April 22, 2015.
Access WeedMD’s investor presentation here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario as well as CX Industries Inc., a wholly-owned subsidiary which specializes in cannabis extraction from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility. With the addition of Starseed Medicinal Inc., a medical-centric licensed holder with operations in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
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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 June 21, 2019 (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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