WeedMd(TSX: V.WMD) (OTCQB: WDDMF)

WeedMd Inc. has announced that it has entered into agreements to supply medicinal cannabis products on an exclusive basis. The deals are with three long-term care and retirement facilities, including peopleCare Communities, Arbour Heights, and Belmont Long Term Care Facility.

Together, this comprises nine homes and more than 1,000 beds. The client facilities are all located in Ontario.

“As the first Canadian licensed producer to sign multiple supply contracts for senior resident care, we are beginning to validate our long-standing strategy. We are leveraging our teams’ four decades of experience in the LTC and seniors’ industry to secure these initial exclusive supply agreements, accelerating our plan of becoming Canada’s partner of choice for LTC and retirement home providers.”

-Bruce Dawson-Scully, CEO of WeedMD.

With a demographic that is growing at four times the rate of the broader population, the Company views the long-term care, assisted living and seniors’ market as one of the most attractive medical markets. Seniors carry a large pharmaceutical burden and a sizeable portion of the population is living in, or seeking, assisted living facilities. WeedMD forecasts that patients in this segment can generate upwards of three times the lifetime value of a typical patient under the Access to Cannabis for Medical Purposes Regulations, generated by higher, more consistent consumption and a more operationally efficient patient acquisition and distribution model.

In addition to peopleCare Communities and its more than 750 beds, the Company also signed respective agreements with Arbour Heights and its sister home, the Belmont Long Term Care Facility, which together house more than 300 beds. In what represents a significant milestone for the medical cannabis and long-term care industries, WeedMD will be the exclusive supplier of cannabis products for distribution to the residents of these communities.

The Company will continue to focus on securing additional supply contracts in the long-term care, assisted living and seniors’ markets offering its proprietary integrated care program along with its cannabis products. Also, WeedMD is advancing a very compelling expansion plan to position itself strategically for the future adult-use market which it expects to unveil in the coming weeks.