WeedMD (CVE:WMD) has developed a medical cannabis program tailored specifically for seniors for symptom management and improved quality of life
SmallCapPower | April 26, 2017: Canada’s newest marijuana stock, WeedMD Inc. (TSXV: WMD), is expected to begin trading on April 27, 2017. And if recent history is any indication, there should be quite a buzz surrounding its debut.
WeedMD has developed a medical cannabis program tailored specifically for seniors for symptom management and improved quality of life when the effects of disease, particularly chronic disease, are no longer managed effectively with conventional treatment. According to Statistics Canada, in 2015 the population of seniors grew by 3.5%, four times faster than the broader population. And by 2036, seniors will represent 25% of Canada’s population. The rate of opioid use, meanwhile, is highest in seniors at 16%.
“This announcement is a testament to the hard work and dedication of our team, we are committed to providing quality medical cannabis to our patients and look forward to our work in the long-term care sector,” WeedMD CEO Bruce Dawson-Scully told SmallCapPower.
The Company’s wholly-owned subsidiary, WeedMD RX Inc., is licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate marijuana seeds and plants and dried marijuana product from its 26,000 sq. ft. facilities located at the former Imperial Tobacco plant in Aylmer, Ontario, a two-hour drive from Toronto. The Company asserts that the facilities are scalable to expand to more than 220,000 square feet while it currently has 1,500 kg of annual production capacity.
WeedMD has applied for an amendment to its ACMPR license to allow for the sale of plants/dried materials, and has completed the review and inspection process with Health Canada with respect to the Sales License. Upon WeedMD satisfying any further documentary or other requests of Health Canada, WeedMD expects to receive its Sales License in the second quarter of 2017.
WeedMD’s executives and directors include CEO Bruce Dawson-Scully and Chairman Michael Kraft, who is a founder of Buckingham Group Limited, a privately-owned merchant bank.
The Company will have a total of 60,517,058 common shares outstanding and is expected to begin trading on the TSX Venture Exchange on April 27, 2017. You can find this Canadian marijuana stock under the symbol “WMD.”
Disclosure: Neither the author nor any of the principals at Small Cap Power, or their family members, own shares in any of the companies mentioned above.
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