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Investorideas.com - Investor Ideas Potcasts #519, Cannabis News and Stocks on the Move; (CSE: CRFT) (TSX.V: WMD) (TSX: WLLW) (CSE: IPOT)

Investor Ideas Potcasts #519, Cannabis News and Stocks on the Move; (CSE: CRFT) (TSX.V: WMD) (TSX: WLLW) (CSE: IPOT)

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WeedMD Consolidates Medical Distribution Activities and Closes Facility to Maximize Production Efficiencies


WeedMD” or the “
Company”), a federally licensed producer and distributor of medical-grade cannabis, announced today it has reallocated all medical packaging, labelling and distribution activities from its Bowmanville, Ontario site to its Aylmer, Ontario facility which also houses the Company’s extraction hub. These strategic steps are part of WeedMD's ongoing plan to maximize the utilization of its facilities, improve operational efficiencies and further align its cost structure while focusing on growth, following the successful integration of WeedMD and Starseed Holdings Inc. (“Starseed”).
These structural changes, completed in January 2021, now centralize production activities at WeedMD’s flagship London-area sites, which also includes the Company’s cultivation centre of excellence in Strathroy, Ontario. With the exiting of its Bowmanville facility, which served as WeedMD’s medical distribution hub, the Company has offered relocation and severance packages, where applicable, to about 20 employees.

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