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WeedMD Reports Third Quarter 2020 Financial Results

Written by Customer Service on . Posted in Public Companies.

Reports 8% growth in net revenue quarter-over-quarter for the three months ended September 30, 2020Kilograms sold in adult-use channel increased 24% over prior quarterWeighted average cost per gram of $2.11 improved in Q3 2020 compared to $2.52 in Q2 2020, due to continued efforts to optimize operations within expanded capacitySecond year of outdoor harvest completed with analysis and processing currently underwayManagement to host conference call on Tuesday, December 1stat 10:00 a.m. Eastern TimeTORONTO, Nov. 30, 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, announced today its financial results for the three and nine months ended September 30, 2020.“Our revenue growth quarter-over-quarter demonstrates the current momentum we are seeing in our business, particularly in our adult-use segment where consumer appeal for our Color Cannabis products continues to grow,” said Angelo Tsebelis, CEO. “With our expanded national sales team, we are making steady traction in establishing new retail accounts and shipping product across the country at a faster pace. We remained highly focused on delivery of our expanding quality product portfolio to consumers during the quarter in the adult-use market and our proprietary direct-to-patient medical channel leading to improved margins going forward.”Summary of Results

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