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WeedMD signs deal to supply Ontario Cannabis Store

The deal is the fifth supply agreement agreed by the firm, it said

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Weedmd is a federally-licenced producer and distributor of cannabis and cannabis oil

Cannabis producer WeedMD Inc (CVE:WMD) has signed another supply deal - this time for its home province of Ontario.

It has agreed with Ontario Cannabis Retail Corp (OCRC), operating as the Ontario Cannabis Store (OCS), to supply branded cannabis products to the adult-use market in the province.

The deal is the fifth supply agreement agreed by the firm.

In addition to Ontario, it has also signed agreements with the Alberta Gaming, Liquor & Cannabis Commission (AGLC), the British Columbia Liquor Distribution Branch (BC LDB), the Nova Scotia Liquor Corporation (NSLC) and Shoppers Drug Mart.

"As a leading Ontario licenced producer, we're thrilled to announce that adult consumers in our home province will have access to our trusted, medical-grade cannabis strains and products this fall," said Keith Merker, chief executive of WeedMD.

Milestone

"This counts as a significant milestone for WeedMD as it advances our strategic plan to develop a national distribution network at optimal price points to ensure the company's medical and adult-use products are available from coast-to-coast."

Yesterday, WeedMD told investors that Michael Pesner has joined the board as an independent director, while Bruce Dawson-Scully was stepping down.

Pesner will also become chair of the audit committee. He is an accountant and president of Hermitage Canada Finance Inc, specialising in financial and capital markets advisory services since 2002.

WeedMD shares added 0.49% to C$2.05.

Quick facts: WeedMD Inc.

Price: 1.24 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $141.85 m
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