WeedMD and Van der Pop Finalize Definitive Licensing Agreement for Female-focused Branded Cannabis Strains
WeedMD Inc. (TSXV:WMD) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical cannabis, and Van der Pop (“VdP”), one of North America’s leading female-focused cannabis brands together with parent TS BrandCo, announced today that they have signed a definitive agreement to distribute two branded strains of cannabis under the VdP brand in Canada. As the first of its kind in Canada, VdP-branded strains will be available through WeedMD’s website by end of November 2017. For a limited time, new customers who order the VdP strain sampler will receive a Van der Pop launch kit including Van der Pop’s signature miron glass jars and welcome accessories. New customers can pre-register here.
“Since announcing the partnership with the innovative Van der Pop team less than four months ago, we’ve been targeting a wider-reaching cannabis market pertaining to our female patients – a very important, yet under-serviced demographic in Canada – and we are pleased to be releasing Van der Pop’s strains for sale on our website later this month,” said Bruce Dawson-Scully, CEO of WeedMD. “Furthermore, this will help WeedMD’s revenue potential and brand recognition within the current medical and future recreational cannabis markets. Together with these strategic initiatives and Van der Pop’s unique offering, we are expanding our market reach.”
“WeedMD’s unique offering and strains were chosen for their specific characteristics and cannabinoid profiles to best help women meet their health and wellness needs,” said April Pride, Van der Pop founder. “The VdP strains are called Eclipse and Cloudburst and we are thrilled to be finally releasing this collaboration. Our goal is to provide a consistent, beautiful experience for women that addresses their therapeutic needs. We’re confident that these carefully-chosen, grown and cultivated strains will fit in perfectly with the rest of our Van der Pop offerings.”
In connection with the branding arrangement, the Company has agreed to issue to Tokyo Smoke 76,923 common shares of the Company, of which 25% will be issued immediately and 25% will be issued on each of February 15, 2018, May 15, 2018 and August 15, 2018. In addition, the Company has issued to Tokyo Smoke 50,000 warrants with an exercise price of $1.49 per common share of the Company exercisable for two years, of which 25,000 warrants will vest and be exercisable upon the cumulative shipments of 150 kilograms of flower (or the equivalent amount of oil), and the other 25,000 warrants will vest and be exercisable upon the cumulative shipments of 300 kilograms of flower (or equivalent amount of oil).
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company operates a 26,000 sq. ft. indoor facility in Aylmer, ON, with four acres of property for future expansion. The Company has entered into supply agreements as well as strategic relationships with established cannabis brands and partners. WeedMD is focused on providing medical cannabis to the long-term care, assisted living and seniors markets in Canada through its specialized, 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.
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About Van der Pop
Van der Pop is one of North America’s most recognized female-focused cannabis lifestyle brand. Founded in 2016, Van der Pop is the cannabis digest for discerning women. With an emphasis on discretion, education and style, the aim is to enhance flower-powered pleasures through a thoughtful and candid exploration of cannabis. Through an editorial platform, weekly newsletter, social sites, product line and SESSION events, Van der Pop explores cannabis and how it relates to self-care, health, wellness and socialization. With its recent acquisition by Toronto-based Tokyo Smoke, Van der Pop is set to release branded cannabis strains to medical patients throughout Canada in November 2017. For more information, visit www.vanderpop.com, like on Facebook, and follow on Twitter and Instagram.
For further information, please contact:
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
To learn more, visit us at www.weedmd.com
For WeedMD Media Inquiries:
Margin Communications & Public Relations
Van der Pop:
Michael Frank, Senior Marketing Manager
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
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