WeedMD CFO Keith Merker (TSXV:WMD) believes that the strategic expansion initiative the company has made in leasing part of a 600,000 square-foot state-of-the-art greenhouse facility will be key to enhancing WeedMD’s position in the Canadian cannabis market.
In the article below, Merker discussed the positive impacts the newly leased facility will have on WeedMD’s cannabis production levels and how it will position the company amongst the highest echelons of Canadian licensed producers. Merker also highlighted the role of the management and cultivation teams in guiding WeedMD through licensing and bringing the company to its current position.
Below is a transcript of our interview with WeedMD CFO Keith Merker. It has been edited for clarity and brevity.
Investing News Network: Please provide our investor audience with an overview of WeedMD and its cannabis cultivation operations in Ontario, Canada.
WeedMD CFO Keith Merker: WeedMD was founded in late 2013 when the Marihuana for Medical Purposes Regulations (MMPR), the regulatory body at the time, rolled out a new commercial infrastructure for cannabis cultivation and distribution in Canada. Unfortunately, we were not amongst the first companies to be licensed under the program and we navigating three years of licensing endeavors before obtaining our license in April 2016.
Now, we are fully operational, producing roughly 1,200 kilograms per annum out of our facility near Aylmer, Ontario. The facility is two hours southwest of Toronto and half an hour from London, Ontario.
INN: What does the recently announced expansion strategy and lease of a large-scale greenhouse mean for WeedMD?
KM: Under our recently announced expansion strategy, we have leased—with the option to purchase—part of a 98-acre farm from Perfect Pick Farms that has 600,000 square feet of state-of-the-art, recently completed greenhouse facilities.
To begin with, WeedMD will be leasing just over five acres or 220,000 square feet, with Continue Reading