Wednesday, October 10, 2018 11:50:40 AM
WDDMF also owns a chunk of BKKSF stock, whom has a deal with TGIFF, which means all these companies benefit from each others success, in one way or another. lol
Read this and keep in mind that they have consistently hit their goals...
WeedMD Reports Second Quarter 2018 Results: https://www.otcmarkets.com/stock/WDDMF/news/story?e&id=1159383
Corporate Highlights During and Subsequent to the Quarter ended June 30, 2018
• Strathroy Greenhouse Update:
Licensing: Cultivation license was secured for WeedMD’s large-scale technologically advanced greenhouse in Strathroy, Ontario on June 8, 2018
Cultivation: Facility was commissioned and plants were moved into 25,000 square feet of recently licensed cultivation space throughout the month of June, placing the Company on schedule for its first harvest by September 2018
Immediate Expansion: Three grow rooms are currently in cultivation, with a fourth coming online over the next week. Six more rooms, representing a total of approximately 60,000 square feet, are expected to be licensed and populated with plants by the end of September
End of 2018 Goal: More than 400,000 further square feet are currently being retrofitted and are expected to be commissioned by the end of 2018, providing the Company with more than 500,000 square feet of total production space in cultivation
• Fully Funded Greenhouse Expansion: With a current cash balance of $43 million, the Company’s expansion and business development plans are fully funded.
• Shoppers Drug Mart Supply Agreement: Entered into an agreement to become a medical cannabis supplier to Shoppers Drug Mart, subject to Health Canada’s approval of Shoppers Drug Mart’s application to be a licensed distributor.
• Provincial Government Supply Agreements: Entered into an agreement with the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”), a memorandum of understanding with the British Columbia Liquor Distribution Branch (“BDLDB”), and a supply agreement with the Nova Scotia Liquor Corporation (“NSLC”) to supply each province with high-quality, branded cannabis products for the adult-use market. WeedMD is focused on nationwide distribution at optimal price points and remains in advanced discussions with various other provincial liquor boards and emerging private retail operators.
• Strategic Partnership for Infused Beverages: Signed a definitive agreement with Phivida Holdings Inc., to develop and operate Cannabis Beverages Inc. (“CanBev”). Both companies will be strategic partners in the development of CanBev, and WeedMD will be the exclusive supplier of cannabinoid extracts to be used in cannabis infused consumer products.
• Collaborative Research & Development: Entered into a research and development supply, and collaboration agreements, with Revive Therapeutics Ltd. (“Revive”), whereby WeedMD will supply Revive with cannabidiol (“CBD”) for the research program evaluating CBD in the treatment of liver disease, specifically non-alcoholic steatohepatitis (“NASH”) and autoimmune hepatitis (“AIH”).
• Extracts Sales: From commissioning its extraction lab in January of this year, the Company is pleased to report that its unique cannabis oil products have been well-received by its customers and now represent approximately 13% of overall patient sales.
• Building the Team: Keith Merker was appointed CEO of the Company, and Nichola Thompson as Interim CFO. The Company now employs over 100 people across a variety of disciplines, including production, sales, marketing, and finance, as it scales its operations.
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and validation.
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