WeedMD Shoppers Drug Mart deal: WeedMD Inc. (TSXV:WMD) (OTC:WDDMF) is a federally-licensed distributor and producer of medical cannabis. The company recently announced that it has sealed a huge supplier agreement to become the medical cannabis supplier for Shoppers Drug Mart. Shoppers must first be approved as a licensed producer by Health Canada for the deal to go through.
It is expected that the medical cannabis products will be sold on Shoppers' website. However, currently Canadian regulation restricts the distribution of medical cannabis at retail pharmacies.
Chairman of WeedMD, Michael Kraft, made a statement in the press release and said:
"WeedMD's medical cannabis products have become a trusted source for the seniors' market and we are excited to expand accessibility to all medical cannabis patients through this strategic agreement with Canada's leading provider of pharmacy products and services [...] Our strains directed at seniors' and womens' health will add a range of depth to Shoppers Drug Mart's anticipated medical cannabis product offerings."
WeedMD recently expanded and has a fully-funded large-scale greenhouse that will be the main supply source for the WeedMD Shoppers Drug Mart deal.
WeedMD also announced last month that it would be expanding into the blockchain technology sector. The company made a deal with Blockstrain Technology Corp. (TSXV:DNAX) and became the first federally licensed producer of medical cannabis to integrate the new technology.
Blocksteam's technology helps to establish global certainty for cannabis strains. The partnership helps with a requirement mandated by the federal government to automate production batch records.
Blockchain technology also provides the company with a tamper-proof method to share data and store growing strain records.
Canada Goes Green
The marijuana legalization Bill C-45 was just passed, and recreational marijuana will be legal across Canada in September. The bill was passed by a Senate vote yesterday but will come with dozens of amendments.
Legal sales may go into effect in September and October - giving companies and government time to adapt. As time passes, more details of the WeedMD Shoppers Drug Mart deal should surface.
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