WeedMD and Pita Pit Launch Pioneer Cannabis Corp.
A national services provider for Canadians interested in opening their own cannabis store
TORONTO, Jan. 11, 2019 (GLOBE NEWSWIRE) — WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD”), a federally-licensed producer and distributor of medical-grade cannabis, alongside Pita Pit Canada (“Pita Pit”), a privately-owned Canadian fast casual franchise eatery with over 600 stores worldwide, including over 225 stores in Canada, are pleased to announce the national launch of retail services provider, Pioneer Cannabis Corp. (“Pioneer”).
Taking inspiration from its founders, Pioneer provides a platform for Canadians with an entrepreneurial spirit and the goal of owning and operating their own cannabis retail store. Pioneer will provide retailers with a variety of services including but not limited to identifying locations, providing assistance with licensing and security processes, point of sales and payment systems, marketing services, and training platforms that will include cannabis educational programs – each in accordance with the unique regulatory environment in each province and municipality.
Pioneer’s operations are being led by President Kristie Smith, who brings over eight years of experience as a senior executive at Pita Pit. Most recently, she was responsible for directing several aspects of the retail services business including development, franchising and operations. Kristie has been integral to the growth of the Pita Pit business.
Chief Executive Officer Jordan Schwartz has extensive experience managing start-up businesses and other dynamic environments and has held several executive roles including most recently managing director at Serruya Private Equity where he oversaw acquisitions, investment and asset management of several retail, real estate and consumer product businesses.
Alexander Liszka, Chief Development Officer, has more than 12 years of experience advising private and public clients across the globe on acquisitions, commercial arrangements, project development and regulatory compliance. Most recently Alex was senior legal counsel at IBI Group Inc., a global architectural, engineering, design and technology company.
Together, Kristie, Jordan and Alex bring more than 35 years of combined entrepreneurial, retail, franchise, development and marketing experience.
“Pioneer brings an opportunity to those entrepreneurs interested in joining the cannabis industry, but who may not have the financial backing or the operational experience to pursue opening their own retail cannabis store,” said Kristie Smith, President of Pioneer Cannabis. “Through this collaboration of established Canadian companies, we are paving the way for small businesses to participate in the emerging retail cannabis space that will promote local economic growth and opportunities.”
“The partnership between Pita Pit, which has helped many small business owners realize their dreams through proprietorship, and WeedMD, a trusted premium cannabis producer and distributor, will help entrepreneurs start up and operate their own stores safely and effectively,” said Keith Merker, CEO of WeedMD. “We are excited to be a part of this opportunity and, together with Pita Pit, we look forward to Pioneer setting the standard for the Canadian cannabis retail experience.”
“We are enthusiastic about this unique opportunity to apply our retail development and operating expertise to support finding the right people and retail locations for this distinct business as it unfolds in an exciting, rapidly emerging industry,” said Chris Fountain, CEO of Pita Pit. “We care about our communities – where we live and do business. We are excited for the opportunity to step up and be responsible stewards within a system that will benefit from participants who are of the highest integrity and are committed to the well-being of the people within these communities.”
Pioneer will pursue retail opportunities province by province in accordance with prevailing cannabis retail regulations. For additional information, visit the Pioneer website www.pioneercannabis.com
About Pioneer Cannabis Corp.
Pioneer Cannabis Corp. is a retail services provider resulting from a collaboration by two industry-leading Canadian companies, WeedMD Inc., a trusted licensed cannabis producer, and Pita Pit Canada, a franchising and brand expert, to develop opportunities for everyday Canadians to realize their dreams of owning and operating their own cannabis retail store. The values of Pioneer are rooted in community and providing small business owners with the opportunity to thrive and contribute to their local economy. We are pioneers of cannabis retail, supporting businesses from the ground up and setting the standard for Canadian cannabis retail.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis and cannabis oil for both the medical and adult-use markets under the Cannabis Act. WeedMD Inc. operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a state-of-the-art greenhouse facility located in Strathroy, Ontario. The greenhouse currently has 110,000 square feet of licensed space in production and is expected to have a total footprint of more than 550,000 square feet online in early 2019. WeedMD has a multi-channeled distribution strategy that includes supply agreements with Shoppers Drug Mart and provincial distribution agencies, as well as through strategic relationships across the seniors’ market in Canada.
About Pita Pit
Founded in 1995 in Kingston, Ontario near Queen’s University, Pita Pit® is an innovative fast casual restaurant with a unique mindset that challenges consumers to Refuse to Settle™ for anything less than quality, healthy, freshly grilled food. After rapidly earning a loyal following in its home market, franchising began across Canada in 1997 and, in 1999, the brand expanded to the United States. Now boasting more than 600 stores across North America and internationally across 13 countries, Pita Pit offers its customers millions of ridiculously delicious, customizable flavour combinations of grilled meats, fresh vegetables, and zesty sauces all rolled into a unique and convenient pita package. For more information about Pita Pit, visit www.pitapit.ca/consumer or www.facebook.com/pitapitcanada.
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For further information, please contact:
Keith Merker, Chief Executive Officer
Tel: 519-765-2440 Ext. 222
To learn more, visit us at www.weedmd.com
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VP, Communications & Corporate Affairs
For Media Inquiries Pioneer Cannabis:
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; 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 Annual Information Form dated December 13, 2017 (the “AIF”) and other disclosure documents of WeedMD filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in the AIF and other disclosure documents could cause actual events or results to differ materially from those described in any forward-looking information.
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