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WeedMD Inc (OTCMKTS:WDDMF) Obtains Outdoor Cannabis Cultivation License

WeedMD Inc (OTCMKTS:WDDMF) reported that the company has obtained Health Canada license for 27 acres of its outdoor cultivation on its Strathroy property. The planting of over 20,000 clones is intended to start in early June, which will bring the harvest time to come in fall 2019. This new development is expected to result in an increase in production output by around 27,000 kgs.

The plans

Keith Merker, the CEO of WeedMD, expressed that they have an efficient team with proven experience along with the required scalability to expand in the genetics outdoors market. They have designed the most effective outdoor cultivation program in the market, which is now further strengthened by the latest license for the outdoor cultivation from Health Canada. With a combined outdoor and indoor production footprint of more than 5.2 million square feet and estimated total potential yearly output of 150,000 kgs of cannabis by next year, WeedMD is all set to become one of largest cannabis producers in Canada.

Derek Pedro, the Chief Cannabis Officer of WeedMD, expressed that the company is progressing well by setting its innovative outdoor cultivation program online in record time. With construction, security, and irrigation complete and over 20,000 live plants spread, prepped, and set to be planted; the company is all set for a successful harvest in coming fall.

In the many steps of grow and production strategy, the company has already secured the license from Health Canada for its 27-acres of soil. The construction of irrigation, security, fencing, and other vital infrastructure is done with a budget of $2 million. Going forward, the company intends to cover 100 acres of production on the existing property. It will be done next year as part of Phase 2. The outdoor cultivation is adjacent to the company’s existing greenhouse facility.

Keith Merker, the CEO of WeedMD, expressed that they are leading the way and making their name as the first company expected to set outdoor cultivation online. They have an extremely experienced and skilled team headed by their Chief Cannabis Officer Mr. Derek Pedro. The company also recently reported the transition of its Aylmer facility into a cannabis processing and extraction hub.

Published by Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.

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