TORONTO, Sept. 26, 2017 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (“WeedMD” or the
“Company”), a federally licensed producer and distributor of medical cannabis, is pleased to announce that it has
signed agreements to supply medicinal cannabis products on an exclusive basis with three long-term care (“LTC”) and retirement home
providers. These include peopleCare Communities, Arbour Heights, and the Belmont Long Term Care Facility, which together total nine homes with more than 1,000 beds
across Ontario.
“As the first Canadian licensed producer to sign multiple supply contracts for senior resident care, we are
beginning to validate our long-standing strategy. We are leveraging our teams’ four decades of experience in the LTC and seniors’
industry to secure these initial exclusive supply agreements, accelerating our plan of becoming Canada’s partner of choice for LTC
and retirement home providers,” said Bruce Dawson-Scully, CEO of WeedMD. “Being chosen as the exclusive cannabis provider to these
communities highlights our ability to provide medicinal cannabis products in conjunction with our integrated priority program
developed for the long-term care, assisted living, and seniors’ markets. We see these contracts as just the beginning and will
continue to focus on expanding the seniors’ market by providing access to alternative health care solutions and building our
business.”
“We are excited to be working with WeedMD in offering alternative health care solutions for our valued residents as we look to
provide safe, cutting edge, innovative and sustainable ways to enhance their quality of care. We are equally proud to be among the
first cohort of Canadian LTC facilities to formally sponsor the use of medical cannabis,” said Andrea Brissette, Vice President,
Care and Services at peopleCare Communities. “WeedMD’s high regard for excellent patient support aligns perfectly with peopleCare’s
core principles as we establish policies and education programs to properly roll out our medical cannabis program. We look forward
to building on this partnership in the years to come.”
With a demographic that is growing at four times the rate of the broader population, the Company views the long-term care,
assisted living and seniors’ market as one of the most attractive medical markets. Seniors carry a large pharmaceutical burden and
a sizeable portion of the population is living in, or seeking, assisted living facilities. WeedMD forecasts that patients in
this segment can generate upwards of three times the lifetime value (LTV) of a typical patient under the Access to Cannabis for
Medical Purposes Regulations (ACMPR), generated by higher, more consistent consumption and a more operationally efficient patient
acquisition and distribution model.
In addition to peopleCare Communities and its more than 750 beds, the Company also signed respective agreements with Arbour
Heights and its sister home, the Belmont Long Term Care Facility, which together house more than 300 beds. These programs are
expected to be rolled out before year-end, following the soon-to-be expected receipt of the Company’s license to sell cannabis oil
– as its production license was received on June 19, 2017. In what represents a significant milestone for the medical cannabis and
long-term care industries, WeedMD will be the exclusive supplier of cannabis products for distribution to the residents of these
communities.
The Company will continue to focus on securing additional supply contracts in the long-term care, assisted living and seniors’
markets offering its proprietary integrated care program along with its cannabis products. Also, WeedMD is advancing a very
compelling expansion plan to position itself strategically for the future adult-use market which it expects to unveil in the coming
weeks.
For more information, access our investor presentation on our website here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical
cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company operates a 26,000 sq. ft.
indoor facility in Aylmer, ON, with four acres of property for future expansion. The Company has entered into strategic
relationships with established cannabis brands, including leading, premium, female-focused Van der Pop. WeedMD is focused on
providing consistent, quality medicine to the long-term care, assisted living and seniors’ markets in Canada through its
specialized, comprehensive platform, and is dedicated to educating healthcare practitioners and furthering the public understanding
of medical cannabis as a viable alternative to prescription medication - relieving a variety of chronic medical conditions and
illnesses.
About peopleCare Communities
peopleCare Communities is an industry leader in South Western Ontario. Three generations have honoured a philosophy
of care and a passion for service. This continues today by embracing new and best practices in senior living with the
commitment to make each peopleCare residence a place where seniors are treated with dignity and respect.
Headquartered in Kitchener, Ontario, peopleCare Communities owns and manages seven long term care homes. The first
retirement home will be opening in London, Ontario in October 2017.
Follow WeedMD On:
Facebook: https://www.facebook.com/weedmd/
LinkedIn: https://www.linkedin.com/company-beta/5020743/
Twitter: https://twitter.com/WeedMD
Instagram: https://www.instagram.com/weedmd/
For further information, please contact:
WeedMD Inc.
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
Email: investor@weedmd.com
To learn more, visit us at www.weedmd.com
For Media Inquiries:
Marianella delaBarrera
Margin Communications & Public Relations
Tel: 416-897-6644
Email: marianella@marginpr.com
Forward-Looking Information
This press release contains forward-looking information based on current expectations. Statements about the
date of trading of the Company's common shares on the Exchange and final regulatory approvals, among others, are forward-looking
information. These statements should not be read as guarantees of future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially
different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking
information to reflect new events or circumstances unless required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF
THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE