Tuesday, 23 January 2018 ()
WeedMD Inc (CVE:WMD) has expanded its product portfolio to include medical cannabis oil, it told investors. The two new cannabis oil platforms are called Entourage, which is for patients registered under the access to cannabis program and Axis, which is designed for the seniors' care market. WeedMD is the preferred supplier for 29 LTC (long term care) homes and lodges, representing more than 3,000 beds in Canada. "Having taken the time to understand the needs of our patient base and market demand, we developed two unique brand of cannabis oil that are now for sale to our patients and to the seniors’ institutional market," said Bruce Dawson-Scully, chief executive at WeedMD. "Our suite of products now includes dried flower as well as cannabis oils called EntourageTM and AxisTM by WeedMD. "We’ve developed and perfected our oil products with the concept of whole plant medicine; utilizing the full spectrum of therapeutic compounds that cannabis has to offer and allowing more of the cannabinoids, terpenes, and flavonoids to be present for a wide range of health benefits," Dr Luc Duchesne, the chief scientific officer of WeedMD, added. The company also added that it had developed an awareness platform that, as well as providing ease of access to its oil products, included a proprietary education program to foster product awareness and cannabis education. Last week the firm named 'pioneer and visionary investor in the emerging cannabis space' Kevin McGovern as a new director. He was the founder of beverage company SoBe and is the chairman of McGovern Capital, which provides investment and strategy to emerging companies, particularly in consumer technologies and holders of intellectual property rights - and in recent years in the global cannabis sector. He has co-founded over 25 companies, six of which have become world/category leaders and has been lead negotiator/principal in over 20 global joint ventures. McGovern founded SoBe, the fastest growing beverage company in the USA, before it was sold to Pepsi for US$375mln.
