WeedMD Inc. (TSX-V:WMD), a federally-licensed producer (LP) and distributor of medical cannabis, is pleased to announce that on December 1, 2017 the Company secured its cannabis oil sales license from Health Canada. This is an amendment to the oil production license obtained in June 2017, and enables WeedMD to begin selling cannabis oil. The Company has developed two distinct cannabis oil brands. The first, AxisTM by WeedMD, has been specifically formulated for the seniors’ market, including long-term care and assisted living, while the second, EntourageTM by WeedMD, has been created to appeal to the general patient population under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company plans to make its cannabis oil available for sale in early 2018.
“After receiving our license to produce cannabis oil just over five months ago, we are thrilled to confirm that we are now one of 21 Canadian LPs with licenses to produce and sell both dried flower and cannabis oil,” said Bruce Dawson-Scully, CEO of WeedMD. “Cannabis oil is in high demand, and we’ve taken the time to develop specific formulations to address the medicinal market as well as our seniors market niche including long-term care and assisted living.”
Based on data released by Health Canada, cannabis oil sales continue to grow at a faster rate than dried flower, and WeedMD is now positioned to serve this expanding market opportunity.
Additionally, WeedMD recently announced its transformative expansion plan into a large-scale modern greenhouse, expected to be the main source of supply for cannabis oil for its medical cannabis patients as well for the future adult-use market. For more about the expansion, read here and see corporate video here.
