Weed MD Inc. Announces Intent To Change Corporate Name To Entourage Health Corp.
Ryan Allway
July 5th, 2021
News
- Company reports results of Annual General & Special Meeting of Shareholders held on June 30, 2021 which includes overwhelming shareholder approval for corporate rebrand
- Company confirms the Management Cease Trade Order is lifted following the respective filing of its fiscal year-end 2020 financials and first quarter 2021 financials
Toronto, Canada, July 5, 2021 – 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 results of its annual general and special meeting of shareholders (the “AGM”) held on June 30, 2021. The shareholders overwhelmingly approved all motions including allowing for a corporate rebrand that will transition WeedMD Inc. into Entourage Health Corp. (“Entourage Health”) over the next few months.
The Company expects to provide additional information in respect of the proposed corporate rebrand and the commencement of trading of the Company’s common shares on the TSX Venture Exchange under the name Entourage Health Corp. over the coming days.
“This is truly an exciting and transformative time for our Company. WeedMD’s values and principles will always be at the heart of who we are – advocates for our patients, consumers, shareholders and communities upholding a standard that delivers on quality, sustainability and experience – now rooted in Entourage Health Corp.,” said George Scorsis, Interim CEO and Executive Chair. “Entourage Health represents WeedMD’s evolution – from its inception in 2013 as one of the first licensed producers, to its launch of award-winning brands, followed by the merger with Starseed Medicinal and pending addition of craft cultivator CannTX – we are a group of professionals who always put the consumer and patient first. We are now looking to develop and expand into new markets and our cannabis experts that make up Entourage Health will expedite and bolster our growth for years to come. I thank our employees, partners and most importantly our shareholders for their unwavering trust and commitment to our success.”
While WeedMD now transitions into doing business as Entourage Health Corp., its Health Canada licence will continue under its wholly owned subsidiary WeedMD RX Inc.
Approved Motions
All other Company matters put forward at the AGM were approved by the shareholders, including the re-election to the Company’s board directors of Jason Alexander, Lu Cacioppo, Bruce Croxon, G. Edmund King, Gail Paech, and George Scorsis. The directors will hold office until successors are duly elected or appointed.
Additionally, in accordance with the rules and policies of the TSX Venture Exchange, the Company’s shareholders re-approved WeedMD’s Omnibus Incentive Plan. The Company’s shareholders also re-appointed RSM Canada LLP, as WeedMD’s auditor to hold office until the next annual meeting of shareholders or until its successor is duly appointed.
Management Cease Trade Order Lifted
WeedMD also announced an update to its previously announced Management Cease Trade Order of April 21, 2021 (the “MCTO”). On May 31, 2021, the Company filed and posted its annual audited financial statements, annual management’s discussion and analysis and related CEO and CFO certifications for the year ended December 31, 2020 to SEDAR. WeedMD also confirms that on June 29, 2021, it filed and posted its first quarter 2021 interim financial statements, management’s discussion and analysis and related CEO and CFO certifications for the three-months ended March 31, 2021 to SEDAR. As a result of the filings, the Ontario Securities Commission lifted the MCTO effective at the close of business on Friday, July 2, 2021.
All AGM-related documents and financial filings can be found on the Company’s profile on SEDAR at www.sedar.com.
Updated investor presentation and corporate deck can be found here. Access WeedMD’s 2021 Shareholder Newsletter here and information about upcoming corporate events here.
About WeedMD Inc.
WeedMD Inc. is the publicly traded parent company of WeedMD RX Inc., a licence holder 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 Medicinal, 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 eight provincial distribution agencies where adult-use brands Color Cannabis and Saturday are sold. WeedMD is also the exclusive Canadian producer and distributor of award-winning U.S.-based wellness brand Mary’s Medicinals sold in both medical and adult-use channels.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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