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WeedMD gets licence amendment approval to expand production into ten additional cultivation rooms and ten new processing rooms in Ontario

The company said the 20 additional rooms and ancillary space more than doubles WeedMD’s licensed greenhouse production space in Strathroy

Cannabis drying room
The 10 new processing rooms will be used for drying, trimming and processing cannabis

WeedMD Inc. (CVE:WMD) (OTCQX:WDDMF) has secured a Health Canada licence amendment approval to expand production into ten additional 10,000 square foot cultivation rooms and ten new processing rooms at its state-of-the-art hybrid greenhouse in Strathroy, Ontario.

The federally-licensed producer and distributor of medical-grade cannabis said the 20 additional rooms and ancillary space more than doubles WeedMD’s licensed greenhouse production space in Strathroy.

READ: WeedMD’s subsidiary CX Industries inks pact with Ignite to supply cannabis, CBD products

Additionally, 27-acres of outdoor grow on the property was licensed and planted in June of this year.

With a total of eighteen 10,000 square foot hybrid cultivation rooms now licensed, WeedMD’s annual greenhouse cannabis production capacity is more than 20,000 kgs, with more than 25,000 kgs of incremental biomass forecasted to be harvested from the outdoor cultivation in the fourth quarter of 2019.

The 10 new processing rooms will be used for drying, trimming and processing cannabis.

Keith Merker, CEO of WeedMD commented: “In the past year we have successfully expanded our production capacity more than 20-fold, and brought online an efficient quality-driven production platform that is recognized across Canada as a trusted source of medical-grade cannabis.”

“The scalability of our production, together with our extraction capabilities at CX Industries, gives us the platform to continue delivering the results that our stakeholders expect.”

Ignite deal signed last week

WeedMD last week announced that its wholly-owned cannabis extraction subsidiary, CX Industries had inked a pact with Ignite International Brands Ltd (CSE:BILZ) to exclusively license cannabis and CBD products.

The group said the licensing agreement will cover an initial term of two years, said the company, with an option to extend it for a third year.

WeedMD had announced the launch of CX Industries, which will specialize in extraction, toll processing and third-party product formulation, earlier in the same week.

Quick facts: WeedMD Inc.

Price: 1.26 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $144.13 m
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