WeedMD Appoints Veteran Finance Executive to its Board of Directors

Distinguished business leader and former Deloitte partner Luciano (Lu) Cacioppo appointed as an independent director and chair of Company’s Audit Committee

TORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) —

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 appointment of veteran finance executive Lu Cacioppo, FCPA, CA, to its Board of Directors (the “Board”) and chair of WeedMD’s Audit Committee.

Lu joins the Board as an independent director and is a nominee of 2437653 Ontario Inc. (the “LiUNA Pension Fund of Central and Eastern Canada”) pursuant to the Nomination Rights and Voting Agreement dated December 20, 2019.

“WeedMD is steadily executing its business plan with a focused approach and we are thrilled to welcome Lu as an independent director and chair of our Audit Committee,” said George Scorsis, Executive Chairman of WeedMD. “Lu is a highly-regarded business and community leader that brings more than 30 years of valuable experience and insight in finance, capital markets, and corporate governance. As a former Deloitte partner, Lu’s solid industry reputation and sharp business acumen comes at a timely juncture as we accelerate our profitability goals and ready the company for long-term growth.”

“As a long-time observer of the cannabis industry, I’ve admired companies that can operate with a disciplined, customer-centric approach while balancing growth with fiscal rigor,” said Mr. Cacioppo. “WeedMD has all the necessary fundamentals in place to accelerate revenue growth and move towards profitability. I’m thrilled to be joining the board and to contributing to the Company’s success as we look to continue building long-term shareholder value.”


More about Lu Cacioppo

Currently the vice chair and managing partner at private equity firm Beringer Capital, Lu advises and provides value-added solutions to companies around the world in various industries including technology, media, real estate, automotive and professional services. Prior to joining Beringer Capital, Lu served as the leader of the Deloitte Private practice in the Ontario region and the managing partner of its small and medium-sized enterprises (SME) program. In this role, he led a national team that specialized in delivering audit and assurance, tax, consulting and risk, and financial advisory services to private companies. Lu has a distinguished FCPA (Fellow of the Chartered Professionals Accountants) designation which is awarded to CPAs that are outstanding leaders in both business and community. Among his many community involvements: St. Joseph’s Health System Board, Dr. Bob Kemp Hospice, the Canadian Accredited Independent Schools and the Sons of Italy Charitable Foundation.

Information about upcoming corporate events including earnings conference call details can be found

here

. Access WeedMD’s latest investor deck

here

.


About WeedMD Inc.

WeedMD Inc. 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. The Company owns and operates a 158-acre state-of-the-art greenhouse, outdoor and processing facility located in Strathroy, Ontario as well as a fully-licensed 26,000 sq. ft. Aylmer, Ontario processing facility, specializing in cannabis extraction. With the addition of Starseed, a medical-centric operator based in Bowmanville, Ontario, WeedMD has expanded its multi-channeled distribution strategy. Starseed’s industry-first, exclusive partnership with LiUNA, the largest construction union in Canada, along with other 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.


Follow WeedMD, Color Cannabis & Starseed:

LinkedIn:

https://ca.linkedin.com/company/weedmd

Twitter:

Instagram:

https://www.instagram.com/weedmd/

Instagram:

https://www.instagram.com/callitcolor/

&

Instagram:

https://www.instagram.com/starseedca/


For further information, please contact:


For Investor Enquiries:


Valter Pinto

Managing Director

KCSA Strategic Communications

1-212-896-1254

[email protected]


For Media Enquiries:


Marianella delaBarrera

VP, Communications & Corporate Affairs

416-897-6644

[email protected]



Forward Looking Information



This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which are based upon WeedMD’s current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as “expect”, “likely”, “may”, “will”, “should”, “intend”, “anticipate”, “potential”, “proposed”, “estimate” and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions “may”, “would” or “will” happen, or by discussions of strategy.


The forward-looking information in this news release is based upon the expectations, estimates, projections, assumptions and views of future events which management believes to be reasonable in the circumstances. Forward-looking information includes estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact. Forward-looking information in this news release include, but are not limited to, statements with respect to internal expectations, expectations with respect to actual production volumes, expectations for future growing capacity and the completion of any capital project or expansions. Forward-looking information necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally; the ability of WeedMD to implement its business strategies;


the COVID-19 pandemic;


competition; crop failure; and other risks.


Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, WeedMD does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information,


future events or otherwise. New factors emerge from time to time, and it is not possible for WeedMD to predict all such factors. When considering this forward-looking information, readers should keep in mind the risk factors and other cautionary statements in WeedMD’s disclosure documents filed with the applicable Canadian securities regulatory authorities on SEDAR at


www.sedar.com


. The risk factors and other factors noted in the disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/26396820-fe16-416c-91d3-be6bbae8639f

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