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Weed MD’s Strategic Investment

WeedMD Inc. (TSX-V: WMD) (OTC: WDDMF) recently announced a strategic investment into BLOCKStrain Technology Corp. Under the terms of the deal, WeedMD will invest $500,000 into the company and receive a board seat, making it Canada’s first licensed producer for medical marijuana to integrate blockchain technology into its ecosystem. The move also paves the way for the licensed producer to expand its wholesale genetics business.

“We are thrilled to have the strategic support of WeedMD in the development and launch of our technology-based solutions,” said CEO Robert Galarza. “Our platform customizes the best aspects of blockchain technology for cannabis industry, specifically in the area of protecting the intellectual property of producers, while giving customers visibility and transparency. By utilizing BLOCKStrain, WeedMD can now expand its library of world-class genetics while building customers’ trust.”

WeedMD is a licensed producer under the Canadian government’s Access to Cannabis for Medical Purposes Regulations (ACMPR). It has a 26,000-sq.-ft. indoor facility in Ontario and a second facility under development, with another 610,000-sq.-ft. of capacity. In addition to its own production, the company has entered into supply agreements and other strategic relationships to expand its capacity. The company’s primary focus is on the senior care market, where its products can help alleviate many conditions without the use of potentially harmful or addictive prescription drugs.

For BLOCKStrain, the addition of a world-class licensed producer serves as a valuable proof-of-concept for its platform, as well as a source of early funding. With initial data derived from intelligent and real world performance within its platform, the company is well positioned to provide the market with a solution-based software product, as well as providing retail outlets and consumer groups a product to close the supply chain loop. Additionally, regulators can begin to see how the platform will help deliver a safe and legal inventory of cannabis to the marketplace and thereafter introduce reasonble requirements for visibility and verification using the platform.