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TORONTO, Aug. 07, 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 report preliminary unaudited revenues of $8 million for the three months ending June 30, 2019. Taking into consideration its sales from the medical, adult-use and wholesale markets, WeedMD increased its net revenues quarter-over-quarter by more than 140% to $8 million. The interim financial results for the three and six month period ending June 30, 2019, will be released on August 29, 2019. The information contained herein may change based on final results.

“WeedMD continues to execute on multiple fronts and we are pleased to announce another record quarter,” said Keith Merker, CEO of WeedMD. “With our industry-leading outdoor grow and recent licensing of another 20 cultivation and processing rooms at our Strathroy greenhouse (read press release here), WeedMD is positioned for continued growth and profitability.”

Q2 Conference Call

The Company will host a conference call with management on Thursday August 29, 2019 at 10 a.m. Eastern Time to report its Q2, 2019 financial results and operational outlook. The call will be hosted by Keith Merker, CEO and Nichola Thompson, CFO of WeedMD.

Management will be available for analyst and media questions following opening remarks.

Conference Call Details:

Date: Thursday August 29, 2019

Time: 10 a.m. Eastern Time

Dial-in Number: Canada/USA: 1-800-319-4610. International Toll: 1-604-638-5340
Participants, please dial in and ask to join the WeedMD call.

Replay Dial-in: Canada/USA: 1-800-319-6413. International Toll: 1-604-638-9010
Replay Access Code: 3544
Replay will be available after 12:00 p.m. Eastern Time, until September 29, 2019.

For more information, access WeedMD’s AGM investor presentation here and 2019 corporate video highlights here.

About WeedMD Inc.

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. 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/