WeedMD Announces Mary’s Medicinals Topicals Product Release in Canada
TORONTO -- WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally licensed producer and distributor of medical-grade cannabis, is pleased to announce the Canadian launch of acclaimed U.S.-based wellness brand Mary’s Medicinals, part of the Mary’s Brands ("Mary’s”) portfolio, and a BellRock Brands Inc. ("BellRock") (CSE: BRCK.U) company. As the exclusive manufacturer and distributor for Mary’s Medicinals’ suite of products in Canada, WeedMD will launch Mary’s Medicinals Transdermal Compound topical as its first release, with expected availability to the Company’s Starseed Medicinal patients starting late February, 2021. WeedMD will expand availability starting with Ontario expected in March 2021, to be followed by additional provinces. The launch will eventually expand to include new product formats, including Mary’s Medicinals transdermal gels and patches, and will become available to both medical and direct-to-consumer markets.
WeedMD is processing Mary’s Medicinals compound in-house at its Aylmer, ON-based extraction hub, using its own indoor and outdoor-input biomass. The Company’s product development and extraction teams are using Mary’s proprietary and patented technology which calls for extracting CBD, THC and CBN – the active cannabinoid ingredients used to produce rich transdermal compounds. The extracts and resins are formulated together with naturally sourced mango butter, locally-sourced beeswax and menthol ingredients to produce Mary’s Medicinals topical products, which have been shown to provide targeted relief and deeper penetration than traditional cannabis topicals.
“We’re excited to be launching Mary’s Medicinals acclaimed therapeutic-based cannabis products in Canada - an important milestone as we expand our line-up with trusted Cannabis 2.0 additions,” said George Scorsis, Executive Chairman and Interim CEO, WeedMD. “We set out to produce CBD, THC and CBN-rich extracts in order to formulate new cannabis formats for an underserved patient and consumer segment looking for high-value, premium self-care products. As Mary’s Medicinals’ exclusive partner, we are proud to be introducing and delivering these high-calibre topical products to our local markets and taking a dominant position in this segment with a trusted brand.”
“Canada has long been regarded as a pioneering cannabis nation and we’re thrilled to be expanding Mary’s Medicinals’ product reach into this important market alongside our local partner WeedMD,” said Chuck Smith, CEO of BellRock. “Our collaboration comes at a time when there is a greater acceptance of diverse and novel cannabis delivery methods and an evolving consumer base. We’re looking forward to expanding into new and exciting distribution channels across the continent with such a lauded partner.”
With Mary’s Medicinals product release on the Company’s medical channel, Starseed Medicinal, WeedMD expects to gather important insights, data and consumer feedback prior to its retail release. Starseed patients with benefits coverage may be able to purchase topicals via insured benefits.
Current third-party* data suggest over 75% of Canadians new to cannabis are interested in trying cannabis topicals as a relief for certain indications including as an analgesic alternative. A recent research report from RBC Capital Markets forecasts the 2021 Canadian concentrates-topicals sales market to be valued at approximately C$227 million, as cannabis-curious Canadians look to try non-intoxicating, next-generation cannabis products.
Mary’s Medicinals Patented Formulations & More about CBN Products
Mary’s Medicinals is widely recognized in legalized U.S. states, including its home state of Colorado, as well as Nevada, Michigan, Illinois, Maryland, Oklahoma and Florida, for its innovative portfolio of cannabis brands. In August 2020, WeedMD and Mary’s announced an exclusive agreement to produce and distribute Mary’s Medicinals products in Canada.
WeedMD is now producing CBN (cannabinol) isolates, a minor cannabinoid found in cannabis, though in trace amounts when compared to dominant cannabinoids, THC and CBD. Research suggests CBN may have potential to alter pain signals and may possess sedative properties amongst other properties.
The Company is also currently assessing CBN product applications in addition to topical compounds, such as patches and transdermal gels, tinctures and vaporizable products for its medical and adult-use portfolios under the Mary’s Medicinals brand.
WeedMD has further completed volume trials to produce CBD isolate. The refined, crystalline form of the cannabinoid boasts near-pure CBD concentrations, upwards of 99 per cent potency. The Company is exploring future product potential for CBD isolate, including high-potency oils, sprays and prepared edibles for its Starseed Medicinal and adult-use Color Cannabis and Saturday Cannabis brands.
Access WeedMD’s 2021 Shareholder Newsletter here. Updated investor presentation and corporate deck can be found here.
*Source: Deloitte - Nurturing New Growth, Canada Gets Ready for Cannabis 2.0 (2019)
About BellRock Brands, parent company to Mary’s Brands
BellRock Brands is a brand and IP focused CPG company that possesses one of the industry's broadest branded product portfolios catering to the growing and ever-evolving cannabis consumer. BellRock's portfolio consists of two iconic cannabis brands with deep history, Mary's Brands (a pioneer in the Health & Wellness segment since 2013) and Dixie (a market leading cannabis-infused edibles brand since 2010), as well as two growing, California-based brands, Rebel Coast and Défoncé. Together, the BellRock brands offer a vast spectrum of high-quality cannabis-centric consumer packaged goods. With 11 brands and over 200 SKUs, BellRock reaches nearly every key consumer group and addresses the needs of a diverse cannabis consumer base. For more information, visit www.bellrockbrands.com.
Mary’s Brands, founded in 2013 and known for its award-winning transdermal technology found in its cannabis patch and transdermal dispensing gel pen, is dedicated to pioneering and delivering natural, THC, CBD and other cannabinoid-infused products to positively impact the lives of both people and pets. To learn more about Mary’s Brands, visit www.marysbrands.com.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., licence holders producing and distributing cannabis products for both the medical and adult-use markets. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, ON as well as a fully-licensed 26,000 sq. ft. Aylmer, ON processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with employers and union groups complements WeedMD’s direct sales to medical patients. The Company maintains strategic relationships in the seniors’ market and supply agreements with Shoppers Drug Mart as well, as seven provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold.