TORONTO, Dec. 08, 2017 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical cannabis, announces its inclusion in the North American Marijuana Index, the benchmark for the Horizons Marijuana Life Sciences ETF (TSX:HMMJ) (“HMMJ ETF”), the first exchange-traded fund (ETF) in the world to offer direct exposure to North American-listed stocks that operate in the legal cannabis industry.
The HMMJ ETF seeks to replicate the performance of the North American Medical Marijuana Index, of which WeedMD is now a proud constituent, and has a planned rebalancing date of December 15th. Publicly traded cannabis companies that meet minimum asset and liquidity thresholds qualify for inclusion in the index, and no single stock may exceed 10% of the weight of the Index when rebalanced.
“WeedMD’s inclusion in the North American Medical Marijuana Index caps a breakout year for the Company which saw us execute and achieve a range of significant licensing, operational and corporate milestones," said Michael Kraft, Chairman of WeedMD. “Since announcing our landmark greenhouse expansion (see here), WeedMD has seen incredible support from existing and new shareholders, and we look forward to broadening our shareholder base through our inclusion in the benchmark, and ultimately, the ETF. Our team continues to execute on our strategic plan, and we look forward to providing further updates as we achieve a number of near-term milestones.”
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 senior’s market including long-term care and assisted living markets in Canada through its proprietary implementation 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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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 Media Inquiries:
Margin Communications & Public Relations
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.
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