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Be the first with the news that moves the market- WeedMD (WMD) has signed an exclusive licensing, manufacturing, and distribution agreement with US cannabis company, MM Technology Holdings
- Under the agreement, WeedMD will manufacture, market, and sell products from MM Tech’s subsidiary, Mary’s Brands, in Canada
- Cannabis products from the acclaimed Mary’s Medicinals line include transdermal gels and patches, and topicals
- Manufacturing of the products will start at WeedMD’s CX Industries extraction hub in 2020’s fourth quarter
- WeedMD (WMD) remains unchanged and is currently trading at C$0.37 per share
WeedMD (WMD) has signed an exclusive licensing, manufacturing, and distribution agreement with US cannabis company, MM Technology Holdings.
MM Tech is the owner of Mary’s Brands, a plant-based cannabis and wellness company. Mary’s Brands has a substantial cannabis product portfolio, under its brands Mary’s Medicinals, Mary’s Nutritionals, Mary’s Methods, and Mary’s Tails.
WeedMD’s agreement with MM Tech applies specifically to Mary’s Brands, and makes the company Mary’s only Canadian partner. Under the agreement, the company will manufacture, market, sell, and distribute cannabis products from the Mary’s Medicinals line.
Cannabis products from the acclaimed Mary’s Medicinals line include transdermal patches, gel pens, and topicals. WeedMD will manufacture a suite of such products in-house at its CX Industries extraction hub, using its own input biomass.
The extraction hub’s manufacturing of the products should begin sometime in 2020’s fourth quarter.
In addition, the company will make the products available to Canada’s provincial adult-use and direct-to-consumer medical users. This will assist Mary’s Brands in its long-term growth strategy to expand into the Canadian market.
WeedMD’s CEO, Angelo Tsebelis, commented on the company’s comprehensive agreement with MM Tech and Mary’s Brands.
“As we move into the next level of product development, it’s imperative that we strategically partner with established brands that share our core values, and Mary’s Brands offers a superior product line that is backed by a team truly dedicated to ensuring the quality, integrity, and efficacy of its product offerings.
“We’re proud to be selected as Mary’s exclusive Canadian producer and distributor.
“With our cultivation platform and CX extraction operations fully ramped up, there’s the added pride of developing these renowned products in-house as we expand with new cannabis formats into a lucrative, yet underserved consumer segment,” he said.
WeedMD (WMD) remains unchanged and is trading at C$0.37 per share at 10:57am EDT.
