WeedMD Inc. (
TSX-V:WMD)
(OTCQX:WDDMF) (FSE:4WE) (“
WeedMD”
or the “
Company”), a federally-licensed producer
and distributor of medical-grade cannabis, announced today that it
has appointed Angelo Tsebelis as Chief Executive Officer replacing
Keith Merker, who has elected to step down from the CEO and board
director roles effective immediately.
“WeedMD has gone through a tremendous
transformation over the past few years under Keith’s leadership and
we want to thank him for establishing the building blocks of the
company - particularly its successful cultivation platform that is
widely recognized as a benchmark of excellence in the industry,”
said George Scorsis, Executive Chairman of WeedMD. “In recognition
of the Company’s solid footing, we now look to accelerate growth
with a renewed focus on expanding sales and distribution
initiatives. With his strong business acumen in sales, marketing,
and supply chain management, we welcome Angelo to the role of CEO
who will look to execute high-margin, commercial transactions that
will bring immediate shareholder value.”
“WeedMD is perfectly positioned to move into the
next phase of growth and I’m honoured to be taking the reins as we
steer towards fully monetizing our distribution channels,” said
Angelo Tsebelis, CEO of WeedMD. “I’m looking forward to working
closely with the integrated team, our partners, patients and
stakeholders to accelerate our commercial growth and business
development initiatives.”
Mr. Tsebelis has close to 20 years of commercial
experience in the pharmaceutical, healthcare and cannabis
industries. Responsible for setting the strategic
commercialization, and product development initiatives for both
WeedMD and Starseed, Angelo previously held positions of increasing
responsibility with Shoppers Drug Mart and Loblaw Corporation where
he built strategic partnerships with pharmaceutical manufacturers,
insurers, adjudicators and brokers in the Canadian market. Prior to
this, Angelo held various commercial leadership roles at
GlaxoSmithKline, Bell Canada and Harrison Associates.
Access WeedMD’s investor presentation here.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent
company of WeedMD Rx Inc., a federally-licensed producer of
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, Ontario.
WeedMD also operates CX Industries Inc., a wholly-owned subsidiary
of WeedMD Inc., from the Company’s fully-licensed 26,000 sq. ft.
Aylmer, Ontario production facility which specializes in cannabis
extraction and processing. With the recent acquisition of Starseed
Medicinal Inc., a medical-centric licensed holder with operations
in Bowmanville, Ontario, WeedMD has expanded its multi-channeled
distribution strategy. Starseed’s industry-first, exclusive
partnership with LiUNA, the largest construction union in Canada,
along with other employers and union groups complements WeedMD’s
direct sales to medical patients. The Company maintains strategic
relationships across the seniors’ market and supply agreements with
Shoppers Drug Mart as well as six provincial distribution agencies
where its adult-use brands Color Cannabis and Saturday are
sold.
Follow WeedMD, Color Cannabis &
Starseed:
Facebook: https://www.facebook.com/weedmd/LinkedIn:
https://www.linkedin.com/company/weedmd/?originalSubdomain=frTwitter:
https://twitter.com/WeedMDInstagram:
https://www.instagram.com/weedmd/ https://www.instagram.com/callitcolor/
& https://www.instagram.com/starseedca/
For further information, please
contact:
For Investor Enquiries:Stephen
NgChief Strategy OfficerEmail: investor@weedmd.com
For Media Enquiries:Marianella
delaBarreraVP, Communications & Corporate AffairsTel:
416-897-6644Email: marianella@weedmd.com
To learn more, visit us at www.weedmd.com
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; 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 Annual Information Form dated June 21, 2019
(the "AIF") and other disclosure documents of WeedMD filed with the
applicable Canadian securities regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the AIF
and other disclosure documents could cause actual events or results
to differ materially from those described in any forward-looking
information.
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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