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WeedMD shares put on growth spurt as it inks new pot supply deal with British Columbia

The firm will supply the Canadian province with branded cannabis products for sale in the adult-use market
WeedMD shares put on growth spurt as it inks new pot supply deal with British Columbia
Pictured is Vancouver, BC

WeedMD Inc's (CVE:WMD) growth trajectory continues - as it inked a cannabis supply deal with the British Columbia Liquor Distribution Branch (LDB) .

Shares in the Toronto-listed group added 4.65% to stand at C$1.80 each.

READ: WeedMD announces termination of arrangement agreement with Hiku Brands

The firm will supply the Canadian province with branded cannabis products for sale in the adult-use market, which will become legal on October 17.

"B.C. is widely recognised for having one of the most mature and developed cannabis consumer markets in Canada," said Keith Merker, chief executive at WeedMD.

"We are very proud that the province will be offering WeedMD's quality products.

"As the provinces develop their cannabis retail strategies, we are emerging as a supplier to multiple distribution channels and categories.

"This deal is another step in our strategy to provide access to our products in emerging legal adult-use markets across the country."

LDB's chief executive Blain Lawson added: "The volume, variety and quality of our product assortment speak to the LDB's commitment to working towards eliminating the illicit market."

WeedMD will supply the B.C. market with cannabis products at the advent of legal sales starting October, 2018.

This latest deal builds upon the recent announcement of WeedMD's respective supply agreements with the Alberta Gaming, Liquor and Cannabis Commission (AGLC) and Shoppers Drug Mart.

The firm is also in the  final  stages of its 220,000 sq ft greenhouse retrofit within its 610,000-square-foot greenhouse facility in Strathroy, Ontario.

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WeedMD Inc. Timeline

Newswire
August 30 2018

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