MediPharm Labs Corp.. (TSX: LABS) (OTCQX: MEDIF) (ESF: MLZ) (“MediPharm Labs” or “Company”), a pharmaceutical company specializing in precision-based cannabinoids, is pleased to announce that it has been awarded Best Brand CBD of the Year by Kind Magazine.
“MediPharm Labs is honored to be selected as CBD Brand of the Year. MediPharm CBD SKUs lead our line of wellness products that are produced to a pharmaceutical quality standard in a GMP licensed facility.” , said Bryan Howcroft, CEO of MediPharm Labs. “The award voted by the top staff of cannabis retailers is a testament to our pharmaceutical quality brand that meets the needs of wellness consumers.”
Kind Magazine is published throughout Canada and is distributed in cannabis retail stores. The Kind Awards were determined by a panel of 235 top-notch cannabis retail employees. MediPharm Labs has built a reputation for pharmaceutical grade CBD, THC and CBN oils, which consumers are looking for wellness solutions. MediPharm Labs ’advanced quality manufacturing process was also featured on national television at CBC Marketplace, as producers highlighted the disadvantages of CBD’s black market and the advantages of licensed quality manufacturers. The episode, The Truth About CBD, can be watched online.
According to the Ontario Cannabis Store, Canada’s largest cannabis distributor, in the most recent quarter, CBD-dominated products were the second fastest-selling category, 135 times faster than the slow-selling products. This trend is replicated across the country and offers MediPharm Labs a short-term revenue improvement opportunity. The average direct margin of MediPharm CBD oil SKUs is healthy, making the expansion of these sales beneficial for the positive gross margin.
The company hopes to continue to communicate new CBDs and other wellness products to improve Canadian distribution revenues, as well as act as proof of concept for international distribution and large contract manufacturing services for natural pharmaceutical and health-enabled products. by GMP Drug Establishment and Natural Company. Licenses for the manufacture of health products.
Grant option
The company granted 1,000,000 stock options to its Chief Financial Officer, Greg Hunter, with a strike price set at the close of business on December 17, 2021. Each option grant has a term of five years. expires on December 17, 2026. five equal installments, the first of which immediately joins the other four installments on the dates which are six, twelve, eighteen and twenty-four months from the date of the grant . Grants are subject to the necessary regulatory approvals.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacture of pharmaceutical grade purified cannabis concentrates, active pharmaceutical ingredients (APIs) and advanced by-products that use a certified Good Manufacturing Practice facility with built-in clean rooms. according to the ISO standard. MediPharm Labs has invested in expert research-driven equipment, state-of-the-art technology, downstream purification methodologies and facilities specifically designed with five primary extraction lines for the delivery of pure, reliable and dosed cannabis products with precision to its customers. Through its white label and wholesale platforms, MediPharm Labs formulates, develops (including sensory testing), processes, packs and distributes cannabis extracts and advanced cannabinoid products to national and international markets.
In 2021, MediPharm Labs received a pharmaceutical drug establishment license from Health Canada, becoming the only company in North America to have a national good manufacturing license for the extraction of natural cannabinoids.
Prospective Information Warning Note:
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, except for historical statements, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Any statement that involves discussions about predictions, expectations, beliefs, plans, projections, goals, assumptions, future events, or performance often but not always using phrases such as “wait,” or “don’t wait,” “or” does not anticipate “,” plans “,” budget “,” scheduled “,” forecasts “,” estimates “,” believes “or” intends “or variations of these words and phrases or states that certain actions, events or “may” or “may”, “may”, “may” or “be achieved” results are not statements of fact and may be forward-looking statements. , to statements on: meeting the needs of consumer welfare, trends in sales of dominant CBD products, average direct margin, positive gross margin, new CBD and other welfare products, international distributions, and large services contract manufacturing of pharmaceuticals and natural health products. Forward-looking statements are necessarily based on a series of estimates and assumptions that, while considered reasonable, are subject to risks, uncertainties and other known and unknown factors that may cause actual results and future events to differ materially from those expressed or implicit. for these forward-looking statements. These factors include, but are not limited to, general trade, economic, competitive, political, and social uncertainties; the inability of MediPharm Labs to obtain adequate funding; delay or failure to receive regulatory approvals; and other factors covered in MediPharm Labs presentations, available on the SEDAR website at www.sedar.com. These statements cannot be guaranteed to be accurate, as actual results and future events may differ materially from those provided in these statements. Accordingly, readers should not unduly rely on the forward-looking statements and information contained in this press release. Except as required by law, MediPharm Labs assumes no obligation to update forward-looking statements of beliefs, opinions, projections, or other factors if they change.
A photo accompanying this ad is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4874975d-c7aa-4ab5-a8a6-d60e25967640
CONTACT: For more information, contact: MediPharm Labs Investor Relations Phone: +1 416.913.7425 ext. 1525 Email: investors@medipharmlabs.com Website: www.medipharmlabs.com
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Written by
Michael Berger
Michael Berger is a managing partner of StoneBridge Partners LLC. SBP continues to drive market awareness for leading companies in the cannabis industry in the United States and abroad.
