WEEDMD HIKU DEAL GONE
7/12/2018 8:59:06 AM

    An unexpected but severe stumbling block for WeedMD, an Aylmer-based medical marijuana grower that recently expanded to Strathroy, was originally on pace to join forces with Hiku Brands Co. Ltd. in what was said to be a $240-million deal created this past spring. But as of Tuesday of this week, that deal is no more as Hiku inked an agreement with Canada's largest cannabis company instead resulting in the stock of WeedMD dropping nearly 16%. Since the deal was trashed, WeedMD has appointed former chief financial officer Keith Merker of London to take over the company's helm replacing chief executive Bruce Dawson-Sculley, who will stay on as an adviser. Merker says the stock prices drop was expected, but the company did receive $10-million in termination fees. WeedMD recently expanded with a greenhouse near Strathroy, where it expects to harvest its first crop in September.

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