TORONTO, March 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 strategic leadership appointments to further strengthen its team and advance its platform in both domestic and international markets.
Industry pioneer Derek Pedro is appointed to the newly-created position of Chief Cannabis Officer – a groundbreaking post that will cement WeedMD’s footing as a premier licensed cultivator rooted in best-in-class cultivation practices. To further advance those initiatives, veteran compliance expert Dr. Alex Sibilev, is appointed to Vice President, Quality Assurance & Global Regulatory Compliance.
“As one of the key architects of WeedMD’s robust cultivation framework, Derek has been a long-time advisor and production partner to the Company and is recognized nationally as both an industry pioneer and the first cultivator to grow in a hybridized greenhouse setting. He was also one of the original patient advocates that lobbied for legal access to cannabis and we are extremely proud to announce his official appointment to this unique position – a timely announcement as we look to optimize our expanding operations,” said Keith Merker, CEO of WeedMD. “Additionally, we are further strengthening our team with the addition of Alex, another industry veteran recognized as a leading compliance expert. He brings a deep knowledge and scope that will strengthen both our domestic operations as well as our development in international markets.”
With its state-of-the-art greenhouse facility in Strathroy, Ontario coming fully online in 2019. WeedMD is focused on optimizing its work sites and teams to support the Company’s drive for growth.
More about the appointments
Derek Pedro, Chief Cannabis Officer. With over 25 years of design, cultivation and production experience, Derek is a long-time advisor to the WeedMD team and has been instrumental in the success of the Company over the last five years. An invaluable asset in the development and design of the Company’s state-of-the-art hybrid greenhouse in Strathroy, ON., which is efficiently growing indoor-quality cannabis, he is an industry pioneer and innovator with a long history of cultivating in all types of growing environments including indoor and outdoor operations. Over the past few years, Derek has introduced over 55 live cannabis strains into Canada’s legal cannabis cultivation system and is recognized for setting up the first truly-hybridized greenhouse in 2007 under the Marijuana Medical Access Regulations (MMAR).
Dr. Alexandre Sibilev, Vice-President, Quality Assurance & Global Regulatory Compliance. Alex brings over 30 years of pharmaceutical experience, regulatory affairs, and compliance oversight and is highly regarded in the cannabis industry as one of the premier specialists in navigating regulatory compliance. A trained pharmacist, Alex holds a PhD in Pharmaceutical Sciences from Sechenov First Moscow Institute of Medicine. He was instrumental in advancing international regulatory processes – specifically obtaining Good Manufacturing Practices (GMP) certification in pharmaceutical ventures, the natural health products industry, and cannabis for medical use. Most recently, he led the regulatory compliance on behalf of another major Canadian licensed producer.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis and cannabis oil for both the medical and adult-use markets under the Cannabis Act. The Company operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a state-of-the-art greenhouse facility located in Strathroy, Ontario. The greenhouse currently has 110,000 square feet of licensed space in production and is expected to have a total footprint of more than 550,000 square feet online in first half of 2019. WeedMD has a multi-channeled distribution strategy that includes supply agreements with Shoppers Drug Mart and six provincial distribution agencies, as well as through strategic relationships across the seniors’ market in Canada.
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For further information, please contact:
Keith Merker, Chief Executive Officer
Tel: 519-765-2440 Ext. 222
To learn more, visit us at www.weedmd.com
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VP, Communications & Corporate Affairs
Cautionary Statement on 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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