MediPharm Labs Receives Organic Certification for Cannabis Oil and Extracts for Medical- and Adult-Use Markets
TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”), a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc., has received Organic Certification from Pro-Cert Organic Systems Ltd. (“Pro-Cert”). Pro-Cert is one of North America’s leading certifiers of organic products and is accredited by IOAS to provide third party certification to the Canadian Organic Standards.
Organic certification is a strong validation of MediPharm Labs’ robust quality management system and GMP compliant facility. This certification further expands the Company’s capabilities to produce bulk wholesale organic extracts and oil for use as an ingredient in finished cannabis concentrate derivatives such as edibles, extracts, topicals and oil products that will be sold in the Company’s wholesale and retail channels for both medical and adult-use markets.
“With the increasing demand for high quality, differentiated products, MediPharm Labs has again expanded its capabilities to enable our customers, and other non-cannabis CPG brands, to introduce innovative and premium, higher margin derivative products in additional categories to the Canadian cannabis market,” said Pat McCutcheon, CEO of MediPharm Labs. “We are proud to receive this certification which further adds third-party validation of our quality management system and integrity in the supply chain. We maintain our commitment to environmental sustainability as we continue to focus on delivering diversified product offerings to enhance the medical- and adult-use consumer experience.”
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-like cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices designed facility and 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 having 300,000 kg of annual processing capacity to deliver pure, safe and precisely dosed cannabis products for its customers. Through its wholesale, white label and tolling platforms, they formulate, process, package and distribute cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, the Company also completed its first commercial export to Australia in June 2019 and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 kg of annual processing capacity.
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. In this news release, forward-looking statements relate to, among other things, expanded product offerings, increasing product demand, completion of MediPharm Labs’ Australian facility and timing thereof, and expected processing capacity of the Australian facility. 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 Labs’ 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.
Released September 20, 2019