TORONTO, Feb. 25, 2021 (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 it will commence selling Pedro’s Sweet Sativa, strain-specific PAX® ERA® products to its Starseed Medicinal clients starting March 6th, 2021. The launch of its latest Cannabis 2.0 offering is in partnership with Pax Labs, Inc. (“PAX”), a leader in premium cannabis vaporizer technology, with award-winning devices for both oil concentrates and flower.
The Company’s Starseed Medicinal-branded oil pods in award-winning strain-specific variants, using cannabis-derived terpenes produced in-house, will be available for purchase via its online medical store. WeedMD’s adult-use Color Cannabis-branded PAX ERA pods are expected to be available through supply arrangements with provincial retailers commencing Q2, 2021.
“In keeping with our long-standing tradition of releasing products first to our medical community, we’re thrilled to launch the PAX ERA line-up in our award-winning Pedro’s Sweet Sativa strain as the latest addition to our growing portfolio,” said George Scorsis, Executive Chairman and CEO. “With product features that offer an updated medical experience, our teams worked together over the past few months to finely curate this portfolio of vaporizer products using our premier, quality-produced, strain-specific biomass. We’re looking forward to expanding with additional terpene-rich strains such as Mango Haze and Black Sugar Rose, particularly as our next launch of concentrates will include our adult-use Color Cannabis-branded PAX ERA pods.”
PAX is a market leader with over two million devices sold worldwide and an established reputation as the best-selling pen-and-pod system in the U.S. Its closed-loop PAX ERA pods, for use with PAX’s high-tech oil vaporizers, are dependable, leak-resistant and designed to be clog-free.
WeedMD’s partnership with PAX is expected to further accelerate the growth of the Company’s Cannabis 2.0 product strategy as it continues to expand into new formats using its own indoor and outdoor-cultivated biomass, processed at its state-of-the-art extraction hub in Aylmer, Ontario. WeedMD currently produces terpene-infused 510-thread vape cartridges for its medical-branded Aurum vapes as well as its adult-use brands Color Cannabis and Saturday Cannabis.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing 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, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with 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 seven 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; the COVID-19 pandemic; 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 disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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