TORONTO, June 27, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (LABS.V) (MEDIF) (MLZ.F) (“MediPharm Labs” or the “Firm”) a world chief in specialised, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is happy to announce that its wholly owned subsidiary, MediPharm Labs Inc., has entered into buy agreements to safe a considerable 9,000 KG of dried cannabis provide from a number of cultivators within the final three weeks in June. Along with MediPharm Labs’ ongoing procurement of cannabis biomass for current contracts, this bulk buy is anticipated to contribute to elevated manufacturing for future gross sales and place the Firm to fulfill the obligatory minimal month-to-month quantity necessities to win new massive white-label contracts.
On the half 12 months mark in 2019, and solely seven months since receiving its gross sales license, MediPharm Labs has expanded its cultivation relationships to safe and scale up its personal provide of dried cannabis that has additionally elevated the full market provide of cannabis concentrates for white label, value-add merchandise together with bottled oil, gel caps and upcoming vape pen gadgets to be legalized later this 12 months.
“With the rising availability of bulk provide and our ongoing dried cannabis provide purchases, we’re effectively positioned to considerably improve quarterly manufacturing over and above our current contracts, which we anticipate to translate into further gross sales from new white-label contracts that require substantial volumes month-to-month,” stated Patrick McCutcheon, Chief Government Officer of MediPharm Labs. “Because the trade continues to mature, with further cultivation provide sources coming on-line, we proceed to give attention to constructing on our specialised extraction talent set to offer a steady supply of top of the range, cannabis concentrates for the rising demand of value-add focus based mostly merchandise for medical and leisure shoppers.”
“We stay up for additional diversifying relationships with new cultivation companions, together with outside grows, who proceed to give attention to producing top quality lively cannabinoid flower at decrease prices over the long run.”
For additional data, please contact:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 216
Electronic mail: [email protected]
Web site: www.medipharmlabs.com
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:
This information launch incorporates “forward-looking data” and “forward-looking statements” (collectively, “forward-looking statements”) inside the that means of the relevant Canadian securities laws. All statements, aside from statements of historic truth, are forward-looking statements and are based mostly on expectations, estimates and projections as on the date of this information launch. Any assertion that includes discussions with respect to predictions, expectations, beliefs, plans, projections, goals, assumptions, future occasions or efficiency (typically however not all the time utilizing phrases corresponding to “expects”, or “doesn’t anticipate”, “is anticipated”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “might” or “might”, “would”, “may” or “will” be taken to happen or be achieved) should not statements of historic truth and could also be forward-looking statements. On this information launch, forward-looking statements relate to, amongst different issues, elevated manufacturing for future gross sales, the manufacturing and provide of vape pen gadgets and the legalization and timing thereof, rising demand of value-add focus based mostly merchandise, elevated gross sales, assembly obligatory minimal month-to-month quantity necessities to win new massive white-label contracts, and diversifying relationships with new cultivation companions, together with outside grows. Ahead-looking statements are essentially based mostly upon a lot of estimates and assumptions that, whereas thought of affordable, are topic to identified and unknown dangers, uncertainties, and different components which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such components embrace, however should not restricted to: basic enterprise, financial, aggressive, political and social uncertainties; the lack of MediPharm Labs to acquire ample financing; the delay or failure to obtain regulatory approvals; and different components mentioned in MediPharm Labs’ filings, obtainable on the SEDAR web site at www.sedar.com. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on the forward-looking statements and data contained on this information launch. Besides as required by regulation, MediPharm Labs assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different components, ought to they alter.