TORONTO, June 25, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced a further expansion of its innovative, pharma-quality family of branded products with the retail introduction of CBD25:5 Release Formula (“CBD25:5”).
This latest brand – the third launched from MediPharm Labs’ GMP-certified Canadian facility since late March – is ideal for medical patients and adult users who covet a full-spectrum cannabis oil in a specially formulated ratio of approximately 25mg/ml of CBD and 5mg/ml of THC, harnessing the properties of both cannabinoids.“Canadians have told us loud and clear they want more and better choices at retail and MediPharm Labs is not only listening, we’re acting by delivering a portfolio of quality-tested, Cannabis brands and formulated products – now including CBD25:5 – that consumers can trust for everyday use,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “CBD25:5 is an important breakthrough because of its specially designed release formula. Recognizing the potential of this product, we’re delighted to note that Medical Cannabis by Shoppers, Canada’s major national medical platform and retailer, as well as several other private provincial distributors have now committed to bringing CBD25:5 to market with more to follow.”A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/81d6feed-86d3-435b-b462-678a9e9d3952Initial quantities of CBD25:5 recently shipped to Medical Cannabis by ShoppersTM, and to cannabis retailers and distributors in British Columbia and Saskatchewan. Delivering one of the more differentiated formulations on the market to multiple jurisdictions, MediPharm Labs plans to achieve full national distribution of its branded family of cannabis products, which includes CBD 25 Regular Formula and the more potent CBD 50 Plus Formula already available more broadly.About MediPharm Labs’ Formulated Oil ProductsAll of MediPharm Labs’ high-quality, full-spectrum formulated oil products have a unique flavour profile from naturally occurring cannabis terpenes. The coconut/palm based MCT carrier oil was carefully chosen because of the sustainable practices used in its production from plantation through manufacturing.Most formulated oil products on the market are either high-CBD, high THC or 1:1 balanced products. MediPharm Labs has formulated a diverse ‘Release Formula’ which is dominated by CBD but also offers a ratio of THC since they are both known to work through different pharmacological mechanisms in the human body1.“From our dedicated R&D group working under a Health Canada-issued Cannabis Research Licence, to our pharma-quality, GMP-certified production team, MediPharm Labs is dedicated to developing Cannabis finished formulated products that Canadians can count on for all of their medicinal, wellness and adult-use needs,” said Mr. McCutcheon. “We look forward to working alone and in partnership to make Canada the world’s foremost legalized cannabis market.”1. The Diverse CB1 and CB2 Receptor Pharmacology of Three Plant Cannabinoids: delta9-tetrahydrocannabinol, Cannabidiol and delta9-tetrahydrocannabivarin https://pubmed.ncbi.nlm.nih.gov/17828291/About MediPharm LabsFounded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing Good Manufacturing Practices certified facilities with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian extraction facility. MediPharm Labs Australia was established in 2017.For further information, please contact:
Laura Lepore, VP, Investor Relations and Communications
Telephone: 416-913-7425 ext. 1525
Email: [email protected]
Website: www.medipharmlabs.com CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals: and other factors discussed in MediPharm Lab’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
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