Medipharm Labs Corp - MEDIF STOCK NEWS

MediPharm Labs has acquired Shelter Cannabis's intellectual property, including its well-known brands and products, to enhance its recreational cannabis portfolio. This acquisition allows MediPharm to leverage its national sales network to expand Shelter's market presence, addressing a CAD 2.6B dried flower category that represents over 70% of Canadian cannabis sales. The transaction is non-dilutive, relying on performance-based payments linked to future sales, minimizing risk for shareholders. Production will move to MediPharm's facility in Barrie, Ontario, optimizing operations and cost efficiencies.

MediPharm Labs has completed a Drug Master File (DMF) for its CBD Active Pharmaceutical Ingredient (API) with the US FDA, allowing it to supply approved APIs to pharmaceutical firms engaged in late-stage research. This move targets a cannabis-based drug market projected to exceed USD $25 billion by 2025, marking MediPharm as the only Canadian company with such FDA approval and the second for natural CBD DMF in North America. The company aims to position itself as a leading supplier and leverage its GMP manufacturing platform to capture market share.

MediPharm Labs Corp. has fully repaid its $41 million unsecured convertible debt, marking a significant milestone in its journey towards profitability. As of December 31, 2021, the company has eliminated all material debt, providing it with a clean balance sheet and strong cash position. This financial stability allows MediPharm to focus on reducing overhead and operating expenses while executing sales contracts. The company owns two GMP facilities in Canada and Australia, enhancing its manufacturing capabilities.

MediPharm Labs (OTCQX: MEDIF) announced a strong cash position with debt reduced to under $500K and highlighted operational optimization opportunities in Canada and Australia due to its Drug Establishment License. The company achieved significant international deliveries of GMP CBD isolate and is positioned to capitalize on the growing cannabis-based drug market, expected to exceed $25 billion by 2025. In Canada, MediPharm Labs has doubled its market share in the oil category from 4% to 8%, showcasing increasing demand for its premium products.

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.