TORONTO, Dec. 14, 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 it has entered into a supply agreement with Jarlette Health Services, an Ontario-based long-term care (“LTC”) and retirement home provider with approximately 2,000 beds in its health services network. WeedMD will be the preferred supplier of medical cannabis to Jarlette’s 14 LTC homes and six retirement lodges across the province. With the addition of Jarlette, the Company is now the preferred supplier for 29 LTC homes and lodges, representing more than 3,000 beds.
“As an industry leader with over 40 years of experience providing quality health care to its residents, Jarlette Health Services is a welcome addition to our growing network of LTC, assisted living and retirement homes looking to enhance the quality of life of their residents,” said Bruce Dawson-Scully, CEO of WeedMD. “This partnership exemplifies Jarlette’s forward-looking approach to the use of medical cannabis as an alternative medicine.”
“At Jarlette, our resident’s comfort and care is paramount in the way we administer health care – with a strong focus on respect, diginity and quality of life, and is achieved through improvements in everything from home-care enhancement to medication therapy and education,” said Judy Maltais, Director of Long Term Care Operations, Jarlette Health Services. “We’ve been researching the use of medical cannabis for some time and are pleased to add education and collaboration in resident care to improve and optimize medication therapy for our residents.”
“Through education and training, we are working with WeedMD to provide support to our residents and their families. Making investments in education will ensure that our residents and Jarlette’s network of health care providers are equipped with the tools to make informed decisions about medical cannabis,” said Edwin Brunink, Director of Retirement Lodge Operations, Jarlette Health Services.
With a demographic that is growing at four times the rate of the broader population, WeedMD views seniors as an important and growing market segment – with a sizable portion of the population either living in, or seeking assisted living residency. The Company is committed to ensuring that its cannabis oils combined with its educational and product platforms meet the needs of the seniors’ market. See video here.
Having secured a license from Health Canada on December 1, 2017 to sell cannabis oils, WeedMD’s product offerings include two cannabis oil platforms called Axis (for the LTC market) and Entourage (for patients registered under the ACMPR program).
Both are available in three offerings: (i) High THC Oil, (ii) Hybrid – equal concentrations of THC and CBD Oil, and (iii) High CBD Oil.
All three products will be available for purchase by current medical partners and patients via WeedMD’s website as of early 2018. Read more about the oil sales license here. WeedMD will continue to focus on securing further supply contracts in the seniors’ care market, offering its proprietary integrated care program along with its cannabis products. Additionally, the Company recently announced its expansion plan to a large-scale modern greenhouse that will be the main supply source for its medical cannabis patients as well as for the future adult-use market. For more about the expansion, read here.
For more information, access our investor presentation here and corporate video here.
About Jarlette Health Services
Jarlette Health Services Inc. cares for approximately 2,000 residents at 20 long-term care homes and retirement lodges throughout Ontario. With over 40 years of experience in health care, Jarlette Health Services has set the pace for high standards in the industry and has built a tradition of developing mutually rewarding relationships with its residents, employees and the communities it serves.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and is awaiting its second-site cultivation license for its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands. The Company is focused on providing medical cannabis to the long-term care, assisted living and seniors’ markets in Canada through its specialized and comprehensive platform. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays - including as it pertains to regulatory requirements, indications and potential side effects.
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