Breaking News: Globe says Medipharm Labs rated “buy” in new coverage

The Globe and Mail reports in its Thursday, March 7, edition that calling it a “first mover” in the cannabis-oil extraction business, Mackie Research analyst Greg McLeish commenced coverage of Medipharm Labs Corp. (TSX-V: LABS) (OTCQB: MLCPF) (FSE: MLZ) ($3.05) with a “buy” rating. The Globe’s David Leeder writes in the Eye On Equities column that Mr. McLeish targets the shares at $6. Mr. McLeish is on the only analyst on the Street covering the stock. Mr. McLeish says in a note: “The company has made significant progress in international expansion with the development of Medipharm Labs Australia, which will service all of Australia and the Asia Pacific. Construction of a facility in Victoria has already commenced and is expected to be complete in H2 2019 pending receipt of the appropriate licensing. In Australia, Medipharm has been working with 25 cultivators to provide supply inputs and secure private label agreements. The company recently signed a two year private sale agreement with AusCann, whereby Medipharm will supply AusCann with private-label cannabis oil over the period starting Feb. 20, 2019. The Australia facility is expected to act as an import/export hub for all of Asia Pacific, local regulations permitting.”

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3 Comments
  1. Katherine Chase 3 months ago
    Reply

    What else can we expect from Medipharms in the future?

  2. Ron Goldberg 3 months ago
    Reply

    cannabis itself is a high growth industry, but concentrated cannabis is a sub-sector that needs more attention moving towards treating chronically ill patients

  3. Omair Amad 3 months ago
    Reply

    planning on an entry on $LABS in the am, could be a nice reversal as recent volume indicates a large move coming.

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