TORONTO, Aug. 05, 2020 (GLOBE NEWSWIRE) -PRESS RELEASE- WeedMD Inc., a Canadian cannabis producer and distributor, announced today it has entered into an exclusive licensing, manufacturing and distribution agreement with U.S.-based cannabis company MM Technology Holdings, LLC. MM is the owner of Mary’s Brands and the product line Mary’s Medicinals.
Under the terms of the agreement, as Mary’s sole Canadian partner WeedMD will manufacture a suite of Mary’s Medicinals’ products with its own biomass at its extraction hub CX Industries later this year. WeedMD will also market, sell and distribute Mary’s Medicinals’ products across Canada’s provincial adult-use and direct-to-consumer medical channels. Mary’s suite of cannabis products includes transdermal gels, patches and topicals.
“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,” said Angelo Tsebelis, CEO of WeedMD. “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.”
“We’re thrilled to be partnering with WeedMD and its CX extraction team as we execute on our long-term growth strategy to expand the Mary’s Medicinals brand into Canada,” said Jacques Panis, CEO of Mary’s Brands. “Our continued desire to innovate on additional product offerings makes this partnership fitting as we look to collaborate with a strong, experienced team that brings unparalleled expertise in cultivation and extraction along with a proven ability to capture unique, next-level distribution channels.”