MEDIPHARM LABS CORP - MEDIF STOCK NEWS

MediPharm Labs Corp. (OTCQX: MEDIF) has announced significant changes to its Board of Directors, with Pat McCutcheon, Warren Everitt, and Keith Strachan resigning. This transition aims to further the company's evolution into an operational pharmaceutical cannabis manufacturer, moving beyond its founder-led phase. The new board comprises independent directors, with Bryan Howcroft serving as CEO. MediPharm Labs boasts a strong cash position and is positioned to implement its global pharmaceutical cannabinoid strategy.

MediPharm Labs Corp (OTCQX: MEDIF) has successfully exported medical cannabis to Barbados, marking its fourth country entry in 2021, after Germany, Brazil, and Peru. The export was conducted with approvals from health authorities in both Barbados and Canada, partnering with Avicanna to deliver RHO Phyto products. MediPharm Labs, recognized as the only North American producer with a Drug Establishment License for cannabinoid extraction, aims to expand its international reach, signifying potential growth in global medical cannabis markets.

MediPharm Labs (OTCQX: MEDIF) announces the launch of new CBN:CBD products, including a Relax Formula Oil and a high CBN vape cartridge, expanding its wellness portfolio without THC effects. This follows previous successful CBN:THC products, with October 2021 sales generating an annualized revenue of $1.65M. The new items are set for retail and online availability in Ontario, with plans for broader distribution. The company aims to leverage its GMP certified facility for future international markets and potential contract manufacturing services.

MediPharm Labs Corp. (OTCQX: MEDIF) announced its financial results for Q3 2021, marking a transition towards becoming an international pharmaceutical leader in cannabis. Key highlights include a 16.5% increase in international sales to $2.9 million, representing 53% of total sales. The company received a crucial Drug Establishment Licence, enabling them to manufacture and sell pharmaceutical-grade cannabis products. MediPharm has $38 million in cash reserves and appointed a new CEO, Bryan Howcroft, to lead their growth strategy in international markets.

MediPharm Labs Corp. (OTCQX: MEDIF) will release its third-quarter financial results for the period ending September 30, 2021, on November 15, 2021, prior to market opening. The company will conduct a conference call and audio webcast at 8:30 a.m. ET the same day to discuss results and future outlook. MediPharm Labs specializes in pharmaceutical-grade cannabis products and has obtained a Pharmaceutical Drug Establishment Licence from Health Canada, making it the only North American company with a domestic Good Manufacturing License for cannabinoid extraction.

MediPharm Labs Corp (OTCQX: MEDIF) has appointed Bryan Howcroft as its new CEO effective November 15, 2021. With over 20 years of experience in medical devices and healthcare, Howcroft previously served as COO and CFO at Southmedic. His expertise in navigating complex global regulations is expected to drive MediPharm’s international growth, particularly in European markets. The company aims to enhance sales and profitability under his leadership. MediPharm also granted him stock options and restricted share units as part of his compensation package.

MediPharm Labs Corp (OTCQX: MEDIF) has announced a new strategic partnership to supply GMP cannabis extracts to Vayamed in Germany. This significant delivery highlights MediPharm's position as a leader in the wholesale of GMP cannabis oil within the EU's largest medical cannabis market, which Forbes estimates will reach €7.7 billion by 2028. The product shipment from MediPharm's licensed facility in Australia reinforces the company's commitment to expanding its international sales and navigating complex regulatory environments.

MediPharm Labs Corp (OTCQX: MEDIF) has partnered with McMaster University in a clinical trial approved by Health Canada, focusing on the effectiveness of its CBD50 and CBD10:2 formulations for treating insomnia in patients with major depressive disorder. This phase 2 trial aims to provide evidence-based research on cannabidiol's efficacy in managing sleep disorders associated with depression. The company's commitment to pharmaceutical quality standards and existing licenses positions it to supply necessary materials for the trial, aligning with its goal of becoming a leading cannabis partner for pharmaceuticals.

MediPharm Labs Corp (OTCQX: MEDIF) has received the first installment of a $330,000 AUD government grant through Australia's Manufacturing Modernisation Fund. The funds will be allocated for enhancing automation in production and improving cannabis purification processes. This support reflects the Australian government's commitment to the medical cannabis sector and acknowledges MediPharm Labs Australia's significant role. The company aims to increase efficiency and expand its client base, responding to growing demand for its cannabis products.