|By Marketwired .||
|February 21, 2014 08:02 AM EST||
TORONTO, ONTARIO -- (Marketwired) -- 02/21/14 -- Editor's Note: There is a photo associated with this press release.
Toronto-based WeedMD.com, ("WeedMD.com" or the "Company"), an innovative medical marijuana producer with a unique business plan, is pleased to announce that it is in the process of completing a $3 million financing round to launch a new plant in Aylmer, Ontario to produce affordable, high quality medical marijuana that exceeds stringent new Health Canada regulations. The plant, which will create many quality jobs in south west Ontario, is on the site of a large former Imperial Tobacco factory. WeedMD.com has already secured a pre-approval licence from Health Canada to produce 2,500 kg of medical marijuana a year. In marketing its product, the Company will put special focus on long-term care facilities, many of whose patients plan to use medical marijuana. Bruce Scully, CEO of WeedMD.com, has extensive experience as a long term care facility executive. The Company's state-of-the-art web site will empower patients and doctors to order medical marijuana securely and for the public to obtain information about the evolving medical marijuana market. WeedMD.com is pursuing a number of exciting strategic partnerships to ensure its position as a leader in the marketplace.
WeedMD.com's launch takes advantage of new government regulations stipulating that all home growers must cease their activity by April 1, 2014. This will force approximately 42,000 medical marijuana users to find new sources for legal product. For WeedMD.com and the other companies capable of meeting the rigorous standards to become a licensed producer, this is a big business opportunity. Health Canada estimates that Canada's "legal marijuana supply industry" could reach $1.3 Billion in sales by 2024. While this is certainly encouraging news for the potential manufacturers, it poses a legitimate concern for users: price. Under the previous regulations, medical marijuana could be purchased directly from Health Canada for $5 a gram. Until such time as there is significant competition in the marketplace, users must realistically expect that price to climb.
"Access and cost are just some of the concerns that licensed providers will need to address," says WeedMD.com CEO, Bruce Scully. "Quality and variety of strains are also key elements that must be given tremendous consideration if one hopes to meet the needs of licensed medical marijuana patients" Scully adds: "Further to this is the issue of discretion. Recent studies have only lent more credence to the assertion that marijuana is a legitimate form of medicine. However, one cannot deny the fact that there is still some element of a social stigma that users must contend with and for them, respect for their privacy is a truly valid concern. WeedMD.com's mission isn't to meet some user concerns; we strive to meet them all."
WeedMD.com has already secured a pre-approval license from Health Canada to produce 2,500kg of medical marijuana per year. The Company has begun converting Imperial Tobacco's former plant in Aylmer, Ontario into a medical marijuana production facility. According to Scully, "it is a good feeling to know that we're transforming a facility that contributed to the decline of our nation's health into one that will ultimately provide relief from illness." Phase 1 consists of a 25,000 sq. ft. structure completed with retrofit, which is currently underway. WeedMD.com ultimately plans to expand this production facility to more than100,000 sq. ft. in 20,000 sq. ft. increments.
The Company is waiting for approval of its license from Health Canada's Marihuana for Medical Purposes Regulations (MMPR) before it can start producing product. Employment opportunities will be made available to growth production specialists, who will help provide daily care for the plants, and to client service representatives who will assist clients through the process of obtaining the necessary medical documents and to identify the strain of marijuana best suited to their needs. In order to meet the strict guidelines put forth by Health Canada, it is expected that many more jobs will be filled in the months and years to come. The facility will also maintain a lab for testing plants for tetrahydrocannabinol (THC) and cannabidiol (CBD) levels prior to shipping product to clients.
WeedMD.com's Master Grower, Mario Meek, has already begun developing 10 strains for immediate production with plans to add 23 more varieties, including some award-winning strains, in the coming months. Under the new MMPR guidelines, patients no longer need a license to obtain these medical marijuana products. Instead, they will need to obtain a document from a licensed physician, which will then be submitted to a licensed provider, such as WeedMD.com, who will fulfill orders online or by phone.
WeedMD.com is in the final phases of developing their website, which will serve not only to process patient orders but will also serve as a resource hub for patients and doctors alike. One of the Company's goals is to help position marijuana as an acceptable form of medication. WeedMD.com's website will play a critical role in making information available to the public so that patients and doctors can make informed decisions regarding their health care. The website is not only secure; it also allows individuals to log on and ask questions of industry leaders anonymously. This is yet another demonstration of WeedMD.com's commitment to patient confidentiality.
Keeping prices low will be a major challenge for all producers under the new system. New regulations call for strict security and quality assurance measures that are expensive to implement. Considering the added expense of packaging, shipping, etc. and it is not surprising that patients are concerned about skyrocketing costs. As reported in the Vancouver Sun, John Conroy, a lawyer, stated "Thousands and thousands of patients are approved to use more than 10 grams a day that's $100 a day at the new rates. No one can afford that." Conroy went on to point out that 60 to 70 percent of approved patients participate in fixed disability programs and will be adversely affected under the new system. WeedMD.com hopes to alleviate patient concerns by developing programs to assist those with financial challenges. By educating the public, WeedMD.com also aims to increase pressure on insurance companies, encouraging them to accept medical marijuana as an "alternative medicine" so that patients can get coverage under existing or newly developed policies.
While the future of medical marijuana distribution is unwritten, WeedMD.com is holding the pen firmly in hand.
WeedMD.com represents an experienced group of industry professionals with a pre-approval under MMPR to produce and distribute medical marijuana for patients across Canada.
To view the photo associated with this press release, please visit the following link: http://www.marketwire.com/library/20140220-928960_800.jpg
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Feb. 12, 2016 09:51 AM EST
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 12, 2016 09:30 AM EST Reads: 209
WebSocket is effectively a persistent and fat pipe that is compatible with a standard web infrastructure; a "TCP for the Web." If you think of WebSocket in this light, there are other more hugely interesting applications of WebSocket than just simply sending data to a browser. In his session at 18th Cloud Expo, Frank Greco, Director of Technology for Kaazing Corporation, will compare other modern web connectivity methods such as HTTP/2, HTTP Streaming, Server-Sent Events and new W3C event APIs ...
Feb. 12, 2016 09:00 AM EST
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, will discuss how the ability to access and analyze the massive volume of streaming data from mil...
Feb. 12, 2016 09:00 AM EST
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
Feb. 12, 2016 08:00 AM EST
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 12, 2016 08:00 AM EST Reads: 319
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
Feb. 12, 2016 06:00 AM EST Reads: 247
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 12, 2016 05:45 AM EST Reads: 455
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 12, 2016 05:00 AM EST
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, will discuss using predictive analytics to ...
Feb. 12, 2016 04:45 AM EST Reads: 405
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...
Feb. 12, 2016 03:45 AM EST Reads: 264
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Feb. 12, 2016 03:45 AM EST Reads: 348
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 12, 2016 02:30 AM EST Reads: 225
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 12, 2016 02:00 AM EST Reads: 439
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 12, 2016 01:30 AM EST Reads: 348