Entourage Health Corp. (ETRGF)

[georgie18]

WDDMF...251...TORONTO, June 15, 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 announced today it has signed and closed a definitive agreement (the “Agreement”) to sell all the shares of its subsidiary’s operating entity, Starseed Medicinal Inc., which had been operating out of the production facility located on Bennett Road North in Bowmanville, Ontario (the “Bowmanville Facility”), to Final Bell Canada Inc. (the “Purchaser”) for C$2.5 million in cash. Starseed Medicinal Inc. is the licence holder for the Bowmanville Facility, which is licensed by Health Canada under the Cannabis Act (Canada) for cultivation, processing and sale of dried cannabis and cannabis extracts, and to conduct research. Net proceeds of the sale will primarily be used by WeedMD to pay down its debt.