WeedMD to Leverage Strainprint's Comprehensive Data and Analytics Platform to Gain Key Insights Into Consumer Preferences to Develop Optimal Cannabis Products
TORONTO, Oct. 10, 2019 /CNW/ - StrainprintR Technologies Ltd, the leader in cannabis data and analytics is pleased to welcome WeedMD Inc. (TSX-V: WMD) (OTCQX: WDDMF) (FSE: 4WE) ("WeedMD" or the "Company") to its growing portfolio of cannabis-based subscribers.
WeedMD is a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The company owns and operates a 158-acre greenhouse and outdoor facility located in Strathroy, ON and CX Industries, a wholly-owned subsidiary of WeedMD Inc. operating out of the Company's fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility. WeedMD's annual greenhouse cannabis production capacity is more than 20,000 kgs, with an approximately 20,000 kgs more of incremental biomass currently being harvested from its 27-acre outdoor cultivation platform in Strathroy.
"Our goal in working with Strainprint is to continue to drive transparency and data-driven efficacy in the cannabis industry. Leveraging Strainprint's technology, we can ensure that our top-quality cannabis products make it to the market in a secure and reliable manner," said Brett Moon, Senior Vice President of Sales and Marketing, WeedMD. "We aim to consistently provide a portfolio of medical-grade cannabis products, leveraging Strainprint's real-time patient data and analytics to determine the most effective medical and recreational strains for cultivation and distribution."
The fast-growing company will have access to the Strainprint Analytics web platform, the most sophisticated cannabis analytics platform available, to identify patterns for the products cultivated, processed or distributed, ultimately improving overall product development for optimal treatment options. Strainprint Analytics is built on top of the world's largest real-time observational study of medical cannabis patients, with more than 1.4 million anonymized, patient reported outcomes and more than 70 million data points on strain efficacy.
"We're thrilled to extend our suite of real-time technology services to organizations who share our goal to change the status quo in the cannabis industry," said Strainprint CEO, Andrew Muroff. "With companies like WeedMD we aim to help personalize medical cannabis by helping people select the best cannabis products to suit their specific needs, using data and analytics."
Founded in Toronto in 2016, Strainprint® Technologies Ltd. is the leading demand-side cannabis data and analytics company. With the world's largest longitudinal, observational dataset of its kind and a mission to advance the scientific understanding of cannabis and its legitimization as a mainstream therapy, Strainprint helps medical cannabis patients and doctors to use cannabis in the most effective and responsible way possible. Strainprint's data platform supports global cannabis research and provides advanced business intelligence and treatment guidance to producers, retailers, medical practitioners, pharmacies, government and industry. Strainprint is HIPAA, PIPEDA and PHIPA privacy compliant, military-grade encrypted, and all patient data is completely anonymized and at rest in Canada. Strainprint can be seamlessly embedded or integrated with most electronic medical records (EMR) and seed2sale software systems. Strainprint Analytics is accessed by customer subscription. The Strainprint App is free to patients and can be downloaded from both the iOS App Store and Google Play Store. www.strainprint.ca, facebook, twitter, linkedin. Strainprint Reports are available at https://strainprint.ca/strainprint-reports/.
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 and outdoor facility located in Strathroy, ON. The Company also operates CX Industries, a wholly-owned subsidiary of WeedMD Inc. CX operates out of the Company's fully-licensed 26,000 sq. ft. Aylmer, Ontario production facility which specializes in cannabis extraction and processing. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors' market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies where WeedMD's adult-use brand Color Cannabis is sold.
Cautionary Statement on 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.
The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies; competition; crop failure; and other risks.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD's Annual Information Form dated June 21, 2019 (the "AIF") and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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SOURCE Strainprint Technologies Ltd.