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WeedMD wins Health Canada license amendment at Ontario facility

The 50,000-square-foot operation will dry, process and cure all remaining outdoor cannabis grown in 2019

WeedMD Strethroy facility
“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” CEO Keith Merker said

WeedMD Inc (CVE:WMD) (OTCMKTS:WDDMF) has secured a Health Canada licence amendment approval for its 50,000-square-foot facility in Strathroy, Ontario. 

The facility, built on the company’s 158-acre property will dry, process and cure all remaining outdoor cannabis grown in 2019. All told, the plant is capable of processing and storing more than 40 tons of dried cannabis biomass.

“With the pace of our outdoor harvest now accelerating, this licence amendment comes at the perfect time,” CEO Keith Merker said in a statement. 

READ: WeedMD says it has commenced harvesting its inaugural outdoor-cultivated cannabis crop; to host an open house

“The harvest has been very successful so far and this represents another milestone as we continue to disrupt traditional modes of cultivation. WeedMD now expects to take a leadership position in Canada for low-cost, high-cannabinoid biomass.”

WeedMD produces and distributes medical-grade cannabis by selling directly to consumers and through retailers such as Shoppers Drug Mart. Its subsidiary, CX Industries, operates out of the company's licensed 26,000-square-foot facility in Aylmer, Ontario

Shares added 3.23% to C$1.28 in Canada.

--Updates for share price--

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

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Price: 1.07 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $122.4 m
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