New licence allows for ongoing product development and the evaluation of cannabis concentrates in portable vaporizer devices for optimal formulations

TORONTO, Feb. 13, 2020 (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 announce that its subsidiary Starseed Medicinal Inc. (“Starseed”) has been awarded a cannabis research licence by Heath Canada (“Research Licence”). This allows for the testing of cannabis concentrates pertaining specifically to vaporization (vape) products in development testing at its Bowmanville, Ontario facility.



“With the evolution of next generation cannabis products such as extracts for vaporization, we want to ensure we drive important data collection forward on behalf of our patients and consumers,” said Angelo Tsebelis, CEO of WeedMD. “We are diligently assessing new cannabis products - in this case, specific to vapes - to determine optimum formulations that will result in the best performance and delivery of medical cannabis, as well as consumer acceptability.”

The Research Licence gives way to research activities and protocols that involve direct handling and storage of cannabis. It also allows for the administration and distribution of cannabis to focus group subjects for assessment of taste, sight, smell and/or touch. The research program is also expected to assess the effect of storage conditions on vaporization device cartridges to ensure product stability in various use conditions over time.

WeedMD also announced that as part of the transaction with Starseed Holdings Inc., the Company granted the following options: 5,674,875 options with an exercise price of $0.98 per share expiring November 3, 2022; and, 900,311 WeedMD options with an exercise price of $3.26 per share expiring November 1, 2023.

Access WeedMD’s investor presentation here .

About WeedMD Inc.

WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer of cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario. WeedMD also operates CX Industries Inc., a wholly-owned subsidiary of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. With the recent acquisition of Starseed Medicinal Inc., a medical-centric licensed holder with operations in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships across the seniors’ market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where its adult-use brands Color Cannabis and Saturday are sold.

Follow WeedMD, Color Cannabis & Starseed:

Facebook: https://www.facebook.com/weedmd/

LinkedIn: https://ca.linkedin.com/company/weedmd

Twitter: https://twitter.com/WeedMD

Instagram: https://www.instagram.com/weedmd/

Instagram: https://www.instagram.com/callitcolor/

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Instagram: https://www.instagram.com/starseedca/

For further information, please contact:

For Investor Enquiries:

Stephen Ng

Chief Strategy Officer

Email: investor@weedmd.com

For Media Enquiries:

Marianella delaBarrera

VP, Communications & Corporate Affairs

Tel: 416-897-6644

Email: marianella@weedmd.com

To learn more, visit us at www.weedmd.com

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon WeedMD's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy.

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