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WeedMD Inks Licensing Deal With MM Technology Holdings

WeedMD Inc., a Canada-based producer of medical-grade cannabis, said it has entered into an exclusive licensing, manufacturing and distribution agreement with U.S.-based cannabis wellness house, MM Technology Holdings, LLC.

MM Technology is the owner of Mary's Brands and the product line, Mary's Medicinals. Founded in 2013, Mary's Brands is known for the transdermal technology found in its cannabis patch and transdermal dispensing gel pen.

The deal will enable WeedMD to expand its line of Cannabis 2.0 products for exclusive distribution to consumers across all Canadian markets. The new products that will be distributed in Canada by WeedMD include topicals, transdermal patches, and gel pens.

As Mary's sole Canadian partner, WeedMD will manufacture Mary's Medicinals' products in-house with its own input biomass at its extraction hub CX Industries. under the terms of the deal. The products will be manufactured by CX Industries starting in the fourth quarter of 2020.

WeedMD will also sell and distribute Mary's Medicinals' products across Canada's provincial adult-use and direct-to-consumer medical channels as it looks to expand its cannabis offerings. Mary's suite of cannabis products includes transdermal gels and patches and topicals.

"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," said Angelo Tsebelis, CEO of WeedMD.

"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.

WeedMD is the publicly-traded parent company of WeedMD RX Inc. and Starseed Medicinal Inc., federally-licensed producers of cannabis products for both the medical and adult-use markets.

WeedMD owns and operates a 158-acre greenhouse, outdoor and processing facility located in Strathroy, Ontario, as well as CX Industries Inc., a wholly-owned subsidiary that specializes in cannabis extraction from the company's fully-licensed 26,000 square feet processing facility in Aylmer, Ontario.

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