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WeedMD Launches Cannabis Extraction Affiliate CX Industries
GlobeNewswire•July 23, 2019
Wholly-owned subsidiary to drive strategic partnerships in cannabis extraction and tolling
TORONTO, July 23, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (WDDMF) (4WE.F) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to announce it has launched CX Industries Inc. (“CX Industries” or “CX”), a wholly-owned subsidiary that will specialize in extraction, toll processing and third-party product formulation from WeedMD’s fully-licensed Aylmer, Ontario facility. CX Industries will have the capacity to process more than 200,000 kgs of biomass at its peak production in 2020.
“The launch of CX Industries represents the next step in the evolution of WeedMD. The marriage of consistent low-cost input material from our cultivation platform with our fully-licensed extraction hub in Aylmer truly sets us apart. Our management team is now working with strategic partners to provide a platform for entrepreneurs and seasoned brands to enter the concentrates market, building on our history of collaborating successfully with our peers in the cannabis industry,” said Keith Merker, CEO of WeedMD. “We have a solid reputation for executing on our production platforms – rooted in our integrity and transparency, combined with our ability to scale. CX offers world-class extraction and end-to-end production solutions as the market readies for the launch of extracts later this year.”
The Company recently announced the transition of its Aylmer, Ontario facility, now CX Industries, into a large-scale cannabis extraction and processing hub. Together with its greenhouse cultivation and outdoor grow that is in full operation at its Strathroy facility, WeedMD is producing significant low-cost biomass input for extraction. Read more here.
Details about CX Industries’ extraction facility:
Fully licensed for cannabis oil production and sale, having processed oils onsite since June 2017
Four fully-operational extraction lines to be brought progressively online starting in 2019 with the ability to process over 200,000 kgs of biomass annually at peak production
Ability to provide formulation capabilities for wholesale and white label manufacturing
Facility will be renovated to meet GxP* standards to support compliance for both domestic and international markets
Fully-licensed 26,000 sq. ft. facility is located on an expandable four-acre site wholly-owned by WeedMD
WeedMD will supply a large quantity of input material for cannabis extraction from both its hybrid greenhouse and outdoor production platforms at its Strathroy site
*GxP encompasses a broad range of compliance-related activities such as Good Laboratory Practices, Good Manufacturing Practices and Good Production Practices.
For more information, access WeedMD’s investor presentation here and 2019 corporate video highlights here.
About CX Industries Inc.
CX Industries is a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility and specializes in cannabis extraction and processing. The facility is located on four acres of expandable property owned by WeedMD. At peak production in 2020, CX is expected to extract and process more than 200,000 kgs of biomass annually.
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 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario and a 26,000 sq. ft. extraction and processing facility in Aylmer, Ontario operating as CX Industries Inc. The Company currently has 136,000 square feet of licensed indoor and greenhouse production space and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production online in 2019. Additionally, 27 acres or 1,176,000 sq. ft. of outdoor cultivation is licensed and fully operational with first harvest expected in October 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 where WeedMD’s adult-use brand Color Cannabis is sold.
Follow WeedMD & Color Cannabis:
Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company/weedmd/?originalSubdomain=fr
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
&
Instagram: https://www.instagram.com/callitcolor/
For further information, please contact:
WeedMD Inc.
Keith Merker, Chief Executive Officer
Tel: 519-765-2440 Ext. 201
Email: investor@weedmd.com
To learn more, visit us at www.weedmd.com
Look on the brightside only 1.77 to go!
Old article, nothing here this board hasnt seen
Better Buy: Aphria vs. Liberty Health Sciences
https://www.fool.com/investing/2018/12/16/better-buy-aphria-vs-liberty-health-sciences.aspx
7,500 sq feet to grow? For 3 million
or 1.11 has caught my eye, see you guys around
really hate to post at 3.33 but if you stop at 3.11 you see
Thank you for your service.
and of all the videos i have had the pleasure of posting this is BAN fav! We on a mission
Weellll says my Mom, Its complicated, but it starts here
https://i.ytimg.com/vi/ibcDHmTCt-I/hqdefault.jpg?sqp=-oaymwEjCPYBEIoBSFryq4qpAxUIARUAAAAAGAElAADIQj0AgKJDeAE=&rs=AOn4CLCzqgxFXbnHP90U7xQfyjMPuhGq9g
That ain't nothing, I woke up in bed with mud on my feet and not sure how that happened! Too much ugly boy I guess
Awesome, buying high selling low!
Ugly Boy says "i think its magic"
Tony, I only tell you one time, dont $uck me Tony, life is crazy
Ooh I love my ugly boy
So rough and tough
Don't care about anything but me
Yes I just love him cause he's so crazy
Just crazy about me
Ooh I love my ugly boy
So rough and tough
Don't care about anything but me
Yes I just love him cause he's so crazy
Just crazy about me
Communications is key
On a chicken-hunt, huntin' for a chicken
Get paranoid when you hear my Glock clickin'
Speakin' to the punk that's tweakin'
With the bitch-ass styles I hit you like Deacon
Jones house, cough without the bones
I rolled ya up and smoked you like cones
Split the seed and grow you like clones
Don't start-me-up, cause I'm not the Rolling Stones
But I get stoned with a little help from my friends
Canadian Licensed Producers (LPs) have once again become a focal point of the cannabis industry after recently coming under considerable pressure, a trend that we have been closely monitoring.
During the last month, Canadian LPs have been trending lower and we believe that this weakness is the result of two primary developments: 1) The firing of Bruce Linton as the CEO of Canopy Growth (WEED.TO) (CGC), and 2) The non-compliance notice issued by Health Canada to CannTrust Holdings (TRST.TO) (CTST).
Although the recent decline has been significant, we believe that the one-year self-implemented suspension on CannTrust will benefit other Canadian LPs. Canadian authorities expected CannTrust to be a major supplier to the medical and recreational market on a going-forward basis. The suspension created a significant loss for the current and future production capacity needs of the Canadian market, and this will benefit other LPs.
Historical trends lead us to believe that the Canadian cannabis market will continue to be under pressure over the near-term. After the recent weakness, valuations look much more attractive and we will continue to closely monitor this vertical of the cannabis industry. Today, we have highlighted 5 Canadian LPs that should benefit from the issues with CannTrust and believe that these are opportunities to be watching.
Download Our Report On 5 Canadian LP’s Leading The Outdoor Cultivation Trend
WeedMD: A Growth Story to be Watching
We believe that WeedMD Inc. (WMD.V) (WDDMF) is well positioned to capitalize on the recent issue with CannTrust and is an opportunity that we are closely following. Earlier this year, we visited the Aylmer facility and were beyond impressed with the scale of this operation. When you combine the company’s expanding indoor footprint with the recently planted outdoor cultivation footprint, you have a company with major growth prospects undervalued by the market.
Another reason we are excited about WeedMD is due to the focus on the cannabis concentrate market and expect this to be a major aspect of the business in 2020. Demand for cannabis concentrates continues to increase and are the input product required to create cannabis infused prodcuts. With Canada’s edible and cannabis oil market expected to open in the coming months, WeedMD will be well positioned to capitalize on this opportunity and should see strong demand for its products.
Based on the analysis we have conducted on the products purchased on the Ontario Cannabis Store (OCS), we can understand the high value of demand for WeedMD’s products, are amongst the first to sell out when new products are launched. We are bullish on the existing demand for the company’s products and expect to see the increasing demand quickly absorbed by the market.
Despite the recent pullback by the Canadian LPs, WeedMD continues to trade at a major discount to its peers. As the company continues to execute on its expansion, we expect to see fundamentals improve and will monitor how the team continues advance operations. WeedMD has significant catalysts for growth (the harvesting of the outdoor cultivation crop, the opening of the cannabis concentrate facility, and the completion of the expansion) and this is an opportunity that we continue to closely follow.
Big thing near me is creamsicle moonshine but I drink Guinness
Dang, dead board
They havent even closed down the black market yet and they can go International
I cant believe Terra turd has a higher share price
Liberty please buy some shares back and show investors you give a $hit
I'm a whiskey drinking SOB if you dont like that then you wont like me
I just hope Liberty isn't complicit
I'm in Podunk
I agree 100%, sector getting killed also a problem. I guess it's getting destroyed for the next run up
It just doesn't add up with the sector getting pummeled and Sunniva like at 1.0x next year revenue? Same with Emerald
So who's selling because nobody seems to be saying "sell" yet its dropped 50% in months? I saw the insider selling but that doesn't explain everything
And you see what's happening to Terra Tech? Everybody done figured them out
Do you really believe a company going dark during a period where its share price is diving is not organized? I may have been duped but time will tell. So far Liberty has NOT earned investor trust. Sad thing is Liberty had strong assets but if played like Terra Tech only traders/insiders win
I have a small $15,000 position in Emerald but I really bought into the US cannabis market but looks like a lot of share selling and spending. Should have known with an all cash business. Canada is legit
Sorry but every US cannabis company I have been invested in has turned out to be a scam. It's a bunch and I did mean every but i will give kudos when i find one that's not. I'm stuck in Sunniva and Liberty at the present so I'll be giving my multiple thousands worth of opinion till I'm whole
Sunniva the penny stock?
Ain't selling a shareZ! See you all at the bottom,. I like the pain!!!!!
Course u know the rumor abou all US cannibis companies being crooks?
Have fun, I think I'm moving to some good people down south
I cant wait till we meet? And I mean meat! This is going to be fun!
You ever watch this video? it about sums up society?
If you buy one more share here you a idiot! IDIOT!!!! prove me wrong! dude
I love Sunniva
Glad I have some goood Canadian brother stocks! FU