CANADA: WeedMD, a medical cannabis licensed company operating in Strathroy, Ontario, has a new leader at its helm.
WeedMD announced that George Scorsis will take over as the organization’s Interim CEO. Since 2019, Scorsis has served as WeedMD’s Executive Chairman. Currently, the company owns and operates a 158-acre state-of-the-art greenhouse and processing facility.
“As we continue on the path of executing our new product strategy and building an expanded distribution network, we are initiating a leadership transition that will position us strongly for this next phase. Additionally, the organization will focus on optimizing all aspects of the business,” Scorsis commented.
During his time at WeedMD, Scorsis has served in a variety of roles and has led initiatives and managed relationships with members and key stakeholders. He has over 25 years of business experience and was instrumental in restructuring Red Bull Canada, growing the company to $150 MM in revenue and also acted as President of Mettrum, a licenced producer.
In addition to this news, most recently, WeedMD announced the expansion of its Cannabis 2.0 product portfolio, with the introduction of terpene-infused vapes to be sold under its Saturday Cannabis branded line-up. The flavored strains, which come in lemon haze and sour pineapple, are available to consumers through the Ontario Cannabis Store.
The launch of flavored vapes is another way the company is executing on its commercial growth plans.
“We are kicking off 2021 with a focused approach on increasing market share and commercial growth of our Color Cannabis and Saturday brands, while expanding our medical footprint through our Starseed portfolio. This includes an aggressive plan to transition WeedMD into a consumer-facing model of excellence. Ultimately becoming hyper-focused on driving meaningful results, while optimizing the organization for future success to deliver shareholder value,” George Scorsis commented.
The Saturday-branded vapes are produced at WeedMD’s extraction hub in Aylmer, Ontario and join its line of Color Cannabis.
The debut comes after WeedMD began selling Black Sugar Rose to the Ontario Cannabis Store for adult-use earlier in December. WeedMD is the first cultivar to carry a terpene profile listing. Black Sugar Rose is an indica-dominant hybrid whose whole flower product is currently available with a terpene profile of 3.6 per cent and THC level of 20 per cent.
Scorsis: “With Black Sugar Rose, we wanted to respond to the call for new cultivars, flower integrity, greater product diversity while responding to consumers’ request for less packaging. Selling the product is just another way WeedMD is enhancing its appeal and accommodating an ever-evolving, national consumer base.”
Curtis Wallace, Head of Cultivation at WeedMD, added, “Cultivating and releasing Black Sugar Rose in Ontario is a proud achievement and pays homage to WeedMD’s cultivation pedigree and tradition for excellence.”
Terpenes are natural organic compounds that exist in all plants found in nature, including cannabis. They play a key role in aroma and flavour of individual cultivars and can be consumed in combination with cannabinoids.
WeedMD also made the decision to display total terpenes on its packaging at a time when cannabis users, and those who are new to cannabis, are looking for more information.
In an interview, Curtis Wallace said: “We now share full visibility on total terpenes, just like cannabinoids. Consumers and patients that are purchasing Color and Starseed flowers will value this new data point. From our perspective, a flower’s total terpene percentage is another number that matters, and knowledge is power.”
As WeedMD progresses into its next stages, George Scorsis will continue to work closely with the team to enhance customer experience, broaden distribution and work to increase sales on a national level.