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WeedMD announces tie-up with CannTx Life Sciences to enhance its genetics bank and preserve its cannabis strains

Nodal segment cultures will be collected from WeedMD’s mother plants and regenerated

WeedMD Inc -
"Investing in the longevity and security of our strains provides added assurance that we are accurately cloning from the healthiest plants,” said Dr Alexandre Sibilev, WeedMD VP, quality assurance and global regulatory compliance

WeedMD Inc (CVE:WMD) (OTCQX:WDDMF) is poised to bolster its precision cultivation credentials through a new tie-up with Ontario-based CannTx Life Sciences Inc (CannTx), a tech-focused licensed cannabis producer.

CannTX is behind the cutting-edge tissue culture technology called Steadystem Solutions, which can produce premium medicinal and recreational products at a greater scale and consistency. The partnership will add new cultivars to WeedMD's genetics bank and expand their lifecycle, the company told investors in a statement on Monday.

READ: WeedMD posts record revenue of C$12.2 million in first quarter as it sees benefit of Starseed deal

Nodal segment cultures will be collected from WeedMD’s mother plants and regenerated using an in-vitro platform to re-produce historical cannabinoid and terpene profiles.

"Investing in the longevity and security of our strains provides added assurance that we are accurately cloning from the healthiest plants,” said Dr Alexandre Sibilev, the vice-president of quality assurance and global regulatory compliance at WeedMD.

"This precision cultivation gives us an opportunity to maintain our germplasm clean of contaminants and protected from phenotypic degradation.”

Curtis Wallace, the head of cultivation at WeedMD, added: "WeedMD is recognized for its diverse genetics library and its expertise in producing premium strains under a world-class cultivation platform.

"It’s imperative that we proactively take steps to protect our valuable assets with tissue culture innovation as we also look to introduce new cultivars into our genetics bank and product lines.”

Mike Abbott, CEO and co-founder of CannTx, added: "We applaud forward-looking cultivators like WeedMD that are taking a proactive approach to protecting their operations, brands, and bottom line."

Also in Monday's statement, WeedMD said that in accordance with the provisions of its deferred share unit plan, the board has authorized the grant of 2,688,314 deferred share units (DSUs) to certain directors and officers of the firm. The board has also approved the grant of options to employees’ company-wide as part of WeedMD’s employee compensation plan.

WeedMD generates cannabis products for both the medical and adult-use markets. It owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario.

In addition, its subsidiary CX Industries specializes in cannabis extraction from its fully-licensed 26,000 square foot Aylmer, Ontario processing facility.

Contact the author at giles@proactiveinvestors.com

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Price: 0.315 CAD

TSX-V:WMD
Market: TSX-V
Market Cap: $66.23 m
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