WeedMD Inc. (TSXV:WMD)

  • Symbol:TSXV:WMD
  • Sector:Healthcare
  • Industry:Pharmaceutical
  • CEO:Angelo Tsebelis
  • Founded:2013
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WeedMD Inc. (TSXV:WMD) Stock Price

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WeedMD Inc. (TSXV:WMD) Company Overview

WeedMD Inc. is a licensed Canadian producer and distributor of medicinal and recreational cannabis through a multi-channelled distribution strategy.

The company has recently announced the launch of its same-day home delivery service called 'PatientDirect' which will serve local patients within Toronto.

Designed "as an immediate solution to potential postal delays," WeedMD Ceo Angelo Tsebelis says the service will centralise medical fulfilment operations, allowing the company to "fast-track deliveries to patients in the greater Toronto area."

WeedMD ended 2019 with a net revenue increase of 162% to $20.8 million, compared to $8 million the previous year, with a majority compromised of consumer sales from the Color Cannabis adult-use brand.

The company owns and operates a 158-acre greenhouse in Strathroy, Ontario, in addition to a fully-licensed 26,000 square foot Aylmer, Ontario production facility which specialises in cannabis extraction and processing.

WeedMD has also just recently completed its acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations in Bowmanville, Ontario.

Starseed will see the company push into the Cannabis 2.0 market, with products already available on pre-order.

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