- Acclaimed Mary’s Medicinals Transdermal Compound, produced exclusively in Canada by WeedMD, with expected availability to Starseed Medicinal’s patients starting late February, 2021
- Mary’s Medicinals expanded availability in Ontario expected in March 2021
- Additional new product formats, including transdermal gels and patches, are expected to follow with later expansion to more provinces
TORONTO, Feb. 16, 2021 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally licensed producer and distributor of medical-grade cannabis, is pleased to announce the Canadian launch of acclaimed U.S.-based wellness brand Mary’s Medicinals, part of the Mary’s Brands ("Mary’s”) portfolio, and a BellRock Brands Inc. ("BellRock") (CSE: BRCK.U) company. As the exclusive manufacturer and distributor for Mary’s Medicinals’ suite of products in Canada, WeedMD will launch Mary’s Medicinals Transdermal Compound topical as its first release, with expected availability to the Company’s Starseed Medicinal patients starting late February, 2021. WeedMD will expand availability starting with Ontario expected in March 2021, to be followed by additional provinces. The launch will eventually expand to include new product formats, including Mary’s Medicinals transdermal gels and patches, and will become available to both medical and direct-to-consumer markets.
WeedMD is processing Mary’s Medicinals compound in-house at its Aylmer, ON-based extraction hub, using its own indoor and outdoor-input biomass. The Company’s product development and extraction teams are using Mary’s proprietary and patented technology which calls for extracting CBD, THC and CBN – the active cannabinoid ingredients used to produce rich transdermal compounds. The extracts and resins are formulated together with naturally sourced mango butter, locally-sourced beeswax and menthol ingredients to produce Mary’s Medicinals topical products, which have been shown to provide targeted relief and deeper penetration than traditional cannabis topicals.
“We’re excited to be launching Mary’s Medicinals acclaimed therapeutic-based cannabis products in Canada - an important milestone as we expand our line-up with trusted Cannabis 2.0 additions,” said George Scorsis, Executive Chairman and Interim CEO, WeedMD. “We set out to produce CBD, THC and CBN-rich extracts in order to formulate new cannabis formats for an underserved patient and consumer segment looking for high-value, premium self-care products. As Mary’s Medicinals’ exclusive partner, we are proud to be introducing and delivering these high-calibre topical products to our local markets and taking a dominant position in this segment with a trusted brand.”
“Canada has long been regarded as a pioneering cannabis nation and we’re thrilled to be expanding Mary’s Medicinals’ product reach into this important market alongside our local partner WeedMD,” said Chuck Smith, CEO of BellRock. “Our collaboration comes at a time when there is a greater acceptance of diverse and novel cannabis delivery methods and an evolving consumer base. We’re looking forward to expanding into new and exciting distribution channels across the continent with such a lauded partner.”
With Mary’s Medicinals product release on the Company’s medical channel, Starseed Medicinal, WeedMD expects to gather important insights, data and consumer feedback prior to its retail release. Starseed patients with benefits coverage may be able to purchase topicals via insured benefits.
Current third-party* data suggest over 75% of Canadians new to cannabis are interested in trying cannabis topicals as a relief for certain indications including as an analgesic alternative. A recent research report from RBC Capital Markets forecasts the 2021 Canadian concentrates-topicals sales market to be valued at approximately C$227 million, as cannabis-curious Canadians look to try non-intoxicating, next-generation cannabis products.
Mary’s Medicinals Patented Formulations & More about CBN Products
Mary’s Medicinals is widely recognized in legalized U.S. states, including its home state of Colorado, as well as Nevada, Michigan, Illinois, Maryland, Oklahoma and Florida, for its innovative portfolio of cannabis brands. In August 2020, WeedMD and Mary’s announced an exclusive agreement to produce and distribute Mary’s Medicinals products in Canada.
WeedMD is now producing CBN (cannabinol) isolates, a minor cannabinoid found in cannabis, though in trace amounts when compared to dominant cannabinoids, THC and CBD. Research suggests CBN may have potential to alter pain signals and may possess sedative properties amongst other properties.
The Company is also currently assessing CBN product applications in addition to topical compounds, such as patches and transdermal gels, tinctures and vaporizable products for its medical and adult-use portfolios under the Mary’s Medicinals brand.
WeedMD has further completed volume trials to produce CBD isolate. The refined, crystalline form of the cannabinoid boasts near-pure CBD concentrations, upwards of 99 per cent potency. The Company is exploring future product potential for CBD isolate, including high-potency oils, sprays and prepared edibles for its Starseed Medicinal and adult-use Color Cannabis and Saturday Cannabis brands.
Access WeedMD’s 2021 Shareholder Newsletter here. Updated investor presentation and corporate deck can be found here.
*Source: Deloitte - Nurturing New Growth, Canada Gets Ready for Cannabis 2.0 (2019)
About BellRock Brands, parent company to Mary’s Brands
BellRock Brands is a brand and IP focused CPG company that possesses one of the industry's broadest branded product portfolios catering to the growing and ever-evolving cannabis consumer. BellRock's portfolio consists of two iconic cannabis brands with deep history, Mary's Brands (a pioneer in the Health & Wellness segment since 2013) and Dixie (a market leading cannabis-infused edibles brand since 2010), as well as two growing, California-based brands, Rebel Coast and Défoncé. Together, the BellRock brands offer a vast spectrum of high-quality cannabis-centric consumer packaged goods. With 11 brands and over 200 SKUs, BellRock reaches nearly every key consumer group and addresses the needs of a diverse cannabis consumer base. For more information, visit www.bellrockbrands.com.
Mary’s Brands, founded in 2013 and known for its award-winning transdermal technology found in its cannabis patch and transdermal dispensing gel pen, is dedicated to pioneering and delivering natural, THC, CBD and other cannabinoid-infused products to positively impact the lives of both people and pets. To learn more about Mary’s Brands, visit www.marysbrands.com.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing 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, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well, as seven provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.
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For further information, please contact:
For Investor Enquiries:
Valter Pinto
Managing Director
KCSA Strategic Communications
1-212-896-1254
weedmd@kcsa.com
For Media Enquiries:
Marianella delaBarrera
VP, Communications & Corporate Affairs
416-897-6644
marianella@weedmd.com
To learn more, visit us at www.weedmd.com
All product images and labels are provided for information and illustrative purposes only, and do not represent the actual cannabis product, product label or its appearance.
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; the COVID-19 pandemic; 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 disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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