Health Canada has granted WeedMD (OTCPK:WDDMF) a license to expand production into 10 additional 10K sq. ft. cultivation rooms and 10 new processing rooms at its hybrid greenhouse in Strathroy, Ontario, more than doubling its production space there.
The company now has 18 licensed 10K sq. ft. rooms and an annual cannabis production capacity of more than 20K kgs.
TORONTO, Aug. 07, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (WDDMF) (4WE.F) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to report preliminary unaudited revenues of $8 million for the three months ending June 30, 2019. Taking into consideration its sales from the medical, adult-use and wholesale markets, WeedMD increased its net revenues quarter-over-quarter by more than 140% to $8 million. The interim financial results for the three and six month period ending June 30, 2019, will be released on August 29, 2019. The information contained herein may change based on final results.
“WeedMD continues to execute on multiple fronts and we are pleased to announce another record quarter,” said Keith Merker, CEO of WeedMD. “With our industry-leading outdoor grow and recent licensing of another 20 cultivation and processing rooms at our Strathroy greenhouse (read press release here), WeedMD is positioned for continued growth and profitability.”
AVERAGE ANALYSTS RECOMMENDATION buy
AVERAGE ANALYSTS TARGET PRICE $3.50
COMPANY PROFILE
WeedMD, Inc. engages in the production and distribution of cannabis products for both the medical and adult-use markets. It focuses on selling directly to medical patients, seniors' market, and provincial distribution agencies. The company was founded on April 13, 2017 and is headquartered in Aylmer, Canada.
The company now has 18 licensed 10K sq. ft. rooms and an annual cannabis production capacity of more than 20K kgs.
TORONTO, Aug. 07, 2019 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (WDDMF) (4WE.F) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis, is pleased to report preliminary unaudited revenues of $8 million for the three months ending June 30, 2019. Taking into consideration its sales from the medical, adult-use and wholesale markets, WeedMD increased its net revenues quarter-over-quarter by more than 140% to $8 million. The interim financial results for the three and six month period ending June 30, 2019, will be released on August 29, 2019. The information contained herein may change based on final results.
“WeedMD continues to execute on multiple fronts and we are pleased to announce another record quarter,” said Keith Merker, CEO of WeedMD. “With our industry-leading outdoor grow and recent licensing of another 20 cultivation and processing rooms at our Strathroy greenhouse (read press release here), WeedMD is positioned for continued growth and profitability.”
AVERAGE ANALYSTS RECOMMENDATION buy
AVERAGE ANALYSTS TARGET PRICE $3.50
COMPANY PROFILE
WeedMD, Inc. engages in the production and distribution of cannabis products for both the medical and adult-use markets. It focuses on selling directly to medical patients, seniors' market, and provincial distribution agencies. The company was founded on April 13, 2017 and is headquartered in Aylmer, Canada.