- Color Cannabis available to consumers in Quebec, one of Canada’s largest markets, via Société québécoise du cannabis (SQDC) in partnership with local producer ROSE LifeScience
- Color products will now be accessible to over 85 per cent of Canada’s retail market
TORONTO, Jan. 14, 2021 — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally licensed producer and distributor of medical-grade cannabis, is pleased to announce the expansion of its adult-use brand Color Cannabis into the province of Quebec. WeedMD entered into a sales, marketing and distribution agreement with Quebec-based cultivator ROSE LifeScience Inc. (“ROSE”) to bring the Company’s adult-use products to consumers in Quebec through the Société québécoise du cannabis (“SQDC”) commencing in early 2021.
“Securing entry into Quebec, one of Canada’s most populated provinces, alongside a well-reputed local partner in ROSE represents an important part of our plan to expand the presence and availability of our Color Cannabis products,” said George Scorsis, Executive Chairman and Interim CEO, WeedMD. “Congratulations to the ROSE team for recently securing its licence, and the Color team for adding this market to the WeedMD family. With our robust distribution network now covering over 85 per cent of Canada, we’re thrilled to be introducing Quebec residents to our line up of products via the SQDC.”
“We are excited to bring Color Cannabis’ product line to Quebecers and proud of our association with WeedMD given their reputation and pedigree as an industry-leading cultivator and producer of beloved cannabis products in Canada,” said Davide Zaffino, President and Chief Financial Officer, ROSE LifeScience. “With the Color brand, we are continuing to fulfill our long-standing goal of elevating the cannabis industry in Quebec.”
In addition to Quebec, WeedMD’s cannabis products are available in Ontario, Nova Scotia, Alberta, British Columbia, Manitoba and Saskatchewan, with more provinces expected to be added in 2021.
About ROSE LifeScience Inc.
As a private Quebec company, founded by a group of seasoned executives with extensive experience in highly regulated industries, ROSE LifeScience is committed to ensuring that Quebec benefits from the responsible production, sale and use of cannabis. From cannabis cultivation to marketing and logistics, ROSE plays a key role in the Quebec market. ROSE not only produces remarkable cannabis, but also offers complete marketing services to selected producers to encourage diversified offerings in the Quebec market.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well, as seven provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
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Forward Looking Information This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; the COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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