“With the launch of our live resin products, we’re excited to introduce consumers to another authentic offering featuring the unique cultivar that is Pedro’s Sweet Sativa,” said Joseph Mele, Senior Vice President, Commercial Sales and Marketing, WeedMD.
According to the wise wizards of the cannabis world, live resin refers to the form of cannabis concentrate produced using fresh flower opposed to dried and cured buds. When drying cannabis flowers, terpenes are typically lost during the process. In contrast, the integrity of said terpenes is preserved when creating concentrates from fresh buds. As such, live resins containing terpenes are considered a high-quality, connoisseur- level products. With this in mind, WeedMD’s subsidiary Color Cannabis offers live resin in its Pedro’s Sweet Sativa cultivar series. The series will be the first of new extract products announced by the Company and will eventually expand to feature solvent-less hash and rosin concentrates.
WeedMD partnered with Ontario’s Peak Processing, a third-party processer that specializes in developing hydrocarbon extract of cannabis biomass to produce live resin formulations. Peak Processing is capable of ensuring that the cannabinoid and terpene-rich trichomes are preserved at harvest. The production of some of the purest concentrates has led WeedMD to achieving award-winning genetics.
“The goal with all Color Cannabis products is to expand consumers’ awareness – particularly for those seeking unique terpene profiles and new premium, high-value concentrates. Peak Processing has carefully extracted live resin from fresh-frozen Pedro’s Sweet Sativa, grown and processed alongside our skilled teams, and we’re looking forward to adding more cultivars to this innovative line up,” continued Mr. Mele
As previously mentioned, WeedMD is expected to release additional cannabis 2.0 products including solvent-less hash and rosin concentrates throughout 2021. This rollout will be completed through the Company’s Color Cannabis and Saturday Cannabis brands. Product development for both products is currently underway in cooperation with Peak Processing. Additionally, WeedMD has developed a unique, in-house critical CO2 extract post-processing methodology. Scientific jargon aside, this means that the Company can preserve a flower’s terpene profile in a malleable, semi-solid high-potency cannabis extract product. Trials to confirm the scalability and product integrity are currently underway, however, this methodology is sure to benefit WeedMD’s production.
WeedMD’s products will be available for purchase from the Ontario Cannabis Store beginning May, 2021 with plans for expansion to additional provinces and retailers. Furthermore, as of March 12, 2021, the Company acquired aggregate gross proceeds of C$17,250,000. The proceeds are intended to accelerate WeedMD’s growth via marketing initiatives, increasing operational capacity and additional product development. With this in mind, the proceeds likely helped bring the Company’s live resin products to life, adding to its already expansive portfolio.
WeedMD’s stock price opened at $0.37 and is currently down to $0.35.