MediPharm Labs brings a pharmaceutical perspective to the cannabis industry, working to internationally recognized pharma-quality standards which result in products that are pure, trusted and precisely dosable for patients and end consumers.
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.
MediPharm Labs’ state-of-the-art cannabis extraction facility is
Good Manufacturing Practices (GMP) Certified and designed with ISO
standard cleanrooms and critical environments.
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The MediPharm Labs Brand
MediPharm Labs branded products deliver high quality, innovative cannabis concentrate-based products to consumers and patients across Canada.
MediPharm Labs CBD25 Regular Formula:
MediPharm Labs CBD25 is a pharma-quality CBD dominant Regular Strength oil containing 25 mg/mL of CBD using full spectrum cannabis concentrate processed at MediPharm Labs’ GMP certified facility under strict manufacturing standards producing a product with exceptional quality and purity.
MediPharm Labs CBD50 Plus Formula Oil CBD:
MediPharm Labs CBD50 is a pharma-quality high-CBD Plus Formula oil containing our highest amount of CBD (50 mg/mL) using full spectrum cannabis concentrate produced at MediPharm Labs using strict manufacturing standards to bring you the highest quality and purity.
MediPharm Labs CBD25:5 Release Formula:
MediPharm Labs CBD25:5 is a pharma-quality CBD dominant Release Formula oil containing 25 mg/mL of CBD using full spectrum cannabis concentrate produced at MediPharm Labs using strict manufacturing standards to bring you the highest quality and purity. 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.
Ace Valley is the brand behind top-rated pre-rolls and other premium and approachable cannabis products. Ace Valley vapes are available in CBD, Sativa and Indica and produced by MediPharm Labs using high-quality distillate. Available in Sativa, Indica and CBD. Ace Valley vapes are produced by MediPharm Labs using high-quality distillate free of any diluent oil in a GMP certified facility.
MediPharm Labs’ purified, trusted cannabinoid-based products include the Wayfarer line of vapes and cartridges of well-known brand names like Northern Lights, Blue Dream, 2:1 CBD:THC, Pink Kush and GG4.
- Northern Lights High THC with terpinolene, limonene, and beta-caryophyllene terpenes.
- Blue Dream High THC with alpha-pinene, myrcene, and beta-caryophyllene terpenes.
- 2:1 CBD: THC High CBD with dominant myrcene, beta-caryophyllene, and limonene terpenes.
- Pink Kush High THC with dominant d-limonene, β-caryophyllene and linalool terpenes.
- GG4 High THC with dominant beta-caryophyllene and limonene terpenes.
July 16, 2020 - MediPharm Labs Selected by University Health Network and Medical Cannabis by Shoppers Inc. for First Real-World Evidence, Patient-Centred Clinical Trial Using Blockchain Technology
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 its participation in a ground-breaking collaboration between University Health Network (“UHN”) and Medical Cannabis by Shoppers Inc. that will use blockchain technology to track medical cannabis products from seed to sale.
MediPharm Labs’ own pharma-quality (GMP Certified) CBD and THC products, including CBD 25, CBD 25:5 and CBD 50, first launched on the Medical Cannabis by Shoppers™ portal earlier this year, as well as a suite of Avicanna Inc’s Rho Phyto™ CBD and THC products, manufactured by MediPharm Labs, have been selected to be used in a 24-week observational study targeting at least 2,000 Canadian medical cannabis consumers.
“As part of the largest pharmacy chain in Canada, the Medical Cannabis by Shoppers team is delighted to partner in this research with MediPharm Labs, a trusted name in the cannabis industry and a company with whom we have a strong commercial relationship,” said Ken Weisbrod, Vice President Business Development/Cannabis Strategy, Shoppers Drug Mart. “The success of this research is dependent on collaboration, and with partners like UHN, MediPharm Labs, TruTrace and Shoppers on board, the stage is set for achievement.”
The collaboration will use a blockchain-secured software platform – designed by TruTrace Technologies Inc. (CSE: TTT)(OTCQB: TTTSF) (CSE: TTT)(OTCQB: TTTSF) and integrated with the Medical Cannabis by Shoppers portal – to manage, track and trace medical cannabis strains in 7 distinct products manufactured by MediPharm Labs, or about 20% of the study formulary, in various formats including oils and extracts throughout each step of the supply chain.
Robert Galarza, CEO, TruTrace Technologies commented, “The evolution of the medical cannabis industry over the past several years has been nothing short of remarkable and the commitment by MediPharm Labs to implement the highest level of product quality through certified GMP standards and protocols, as well as a desire to advance innovation, collaboration and technology alongside companies like ours will only further drive our industry forward. We are excited to explore how the power of dynamic and transparent data can support their initiatives in Canada and beyond.”
“This important study, conducted by one of the largest health research organizations in Canada, will have wide-reaching benefits for cannabis patients and MediPharm Labs as we remain dedicated to producing pharmaceutical-quality products that are rigorously tested and verified on a lot-by-lot basis using GMP certified standards,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Our view is that this study has the potential to enhance confidence in medical cannabis by giving physicians and patients true transparency into product chemistry, composition and effectiveness so that they can prescribe validated products and adjust their treatment regimens based on real-world evidence. We are proud to be a contributing partner with leaders in the fields of science, technology, medical dispensary and cannabis who have come together to make this study possible.”
About the UHN Study
This novel Medical Cannabis Real World Evidence study will look to match cannabis genetics, with defined cannabinoid and terpene profiles, to patient outcomes using validated questionnaires and scales. Patients enrolled in this study will have access to a wide range of products that have consistent genetic, chemical, cannabinoid and terpene profiles and will know exactly what is in their products down to the milligram of THC and cannabidiol. If a product in the study is effective for them, they can rely on it being identical, from batch to batch.
From this work, a national repository of real-time data about cannabis products, their composition and their effectiveness will be made available to Medical Cannabis by Shoppers’ patients.
Patients participating in the study will use the same ecommerce platform as other Medical Cannabis by Shoppers patients, though research participants will have access to the first fully verified products. First launched in Ontario in January 2019, Medical Cannabis by Shoppers (a subsidiary of Shoppers Drug Mart) provides patient access to numerous medical cannabis products from over 20 licensed cannabis brands. Cannabis medication can be ordered online or via phone, and is shipped directly and discreetly to their doorstep. The Shoppers Cannabis Care team – a dedicated call center staffed by cannabis-trained advisors and pharmacists – provides counselling and support for patients.
University Health Network consists of Toronto General, recently ranked the #4 Hospital in the World according to Newsweek Magazine, and Toronto Western Hospital, the Princess Margaret Cancer Centre, Toronto Rehabilitation Institute, and the Michener Institute of Education at UHN. The scope of research and complexity of cases at University Health Network has made it a national and international source of discovery, education, and patient care.
Why Traceability Is Important
Medical cannabis currently lacks assigned Drug Identification Numbers (“DINs”) that quantify attributes such as chemistry, genetics, and metabolomics. This information is critical for producers, distributors, government agencies, payers, clinicians, and patients. Maintaining an effective and interoperable traceability ecosystem built on reliable and immutable data provides safe and consistent medicine.
MediPharm Labs distinguishes itself as a supplier of medical cannabis through its GMP-certified production capabilities. This internationally recognized certification is only granted to companies that can demonstrate consistency, precision, and quality in all stages of production and are able to comply with GMP principles for manufacturing Active Pharmaceutical Ingredients and final medicinal products.
For Full Release: https://www.globenewswire.com/news-release/2020/07/16/2063212/0/en/MediPharm-Labs-Selected-by-University-Health-Network-and-Medical-Cannabis-by-Shoppers-Inc-for-First-Real-World-Evidence-Patient-Centred-Clinical-Trial-Using-Blockchain-Technology.html
July 14, 2020 - MediPharm Labs Appoints BMO Capital Markets Executive to Board of Directors
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, is delighted to announce the appointment of Chris Taves – Chief Operating Officer (“COO”) of BMO Capital Markets – to its Board of Directors effective July 13, 2020. This key appointment follows an extensive planning and search process.
As COO of BMO Capital Markets (“BMOCM”), a leading full-service financial services provider and member of BMO Financial Group, one of the largest banks in North America, Mr. Taves is responsible for setting and overseeing implementation of BMOCM’s strategies and for all balance sheet and risk taking activity as well as regulatory, compliance and operational functions. He also serves as a Board Member of BMO China Co. and BMO Capital Markets Corp. Prior to assuming his current role in 2018, he served as Head of Global Markets responsible for BMO’s global trading businesses and in various other roles over an 11-year career at BMO.
“Chris’ substantial experience as a senior business strategist, advisor and entrepreneur and distinguished track record in the capital markets both at home and abroad make him exceedingly well qualified to provide meaningful value to the governance of our business as we expand our global leadership,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “As an independent Director with deep roots in finance and risk management, Chris will lead the Board’s Audit Committee. We are delighted to welcome Chris, and we look forward to his contributions as we advance our strategic priorities.”
Mr. Taves began his career at KPMG in 1989 and joined Citigroup in 1997 where he became Head of Corporate Canada Team, Derivatives & Structured Product before moving to BMOCM. He has an MBA from the Ivey Business School at Western University, and a Bachelor of Mathematics from the University of Waterloo. He is a CA CPA and a member of the National Association of Corporate Directors.
“MediPharm Labs is entering an exciting phase of global growth and it is very clear to me that its senior management team and Board are committed to taking all the steps necessary to manage risk while deploying capital for maximum value creation,” said Mr. Taves. “I am excited to have the opportunity to serve as a member of the Board and to work closely with what I consider one of the best leadership teams in the cannabis industry.”
With Mr. Taves’ appointment, MediPharm Labs’ Board of Directors will consist of eight members, five of whom are independent.
In connection with his appointment, the Company granted 300,000 options to Mr. Taves at an exercise price set at the close of business on July 13 , 2020. Each grant has a five-year term expiring July 13, 2025.
July 09, 2020 - MediPharm Labs to Participate at CBD BioPharma Virtual Investor Conference
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, is pleased to announce that MediPharm Labs’ management will participate in the CBD BioPharma Virtual Investor Conference on Thursday, July 9th.
The audio webcast presentation will begin at 11:30am Eastern Time. Participants may access the audio webcast using the following link: https://www.tinyurl.com/070920VICPR or through the events section of MediPharm Labs Investor Relations website at https://ir.medipharmlabs.com/ir-calendar .
June 25, 2020 - MediPharm Labs Expands Innovative CBD Product Portfolio By Introducing CBD25:5 Release Formula
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-b462-678a9e9d3952
Initial 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.
June 23, 2020 - REPEAT - MediPharm Labs Appoints Former Nestlé Canada President and CEO, Shelley Martin, to Board of Directors
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, is delighted to announce the appointment of Shelley Martin – former President and CEO of Nestlé Canada and a consumer packaged goods industry top executive with an outstanding track record of success – to its Board of Directors effective immediately. This key appointment follows an extensive planning and search process.
Ms. Martin served in a variety of senior executive roles at Nestlé Canada Inc. from 1990 until she retired after five years as President and Chief Executive Officer in 2018. During her time leading Nestlé Canada, she drove a substantial increase in revenue, market share and profitability and transformed core business units and brands by introducing new formulas, packaging, pricing, global sources of supply and Lean (Six Sigma) tools. In 2018, Nestlé Canada’s annual sales were approximately $2.6 billion. She began her career at General Mills Canada in 1985 and was named one of Canada’s Most Powerful Women by the Women’s Executive Network (WXN) in 2015, 2016 and 2018.
“Shelley is a proven leader with strong governance, strategic, operational and commercial skills that will be invaluable to our Board and to MediPharm Labs as we expand our global leadership in medicinal, wellness and adult-use cannabis markets,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “As we build our own portfolio of innovative brands and serve as a key partner to global pharmaceutical and consumer-packaged goods companies committed to entering the cannabis industry with new products, as well as other licensed cannabis companies looking to grow their market share, Shelley’s deep and broad expertise and connections will add new and vitally important dimensions to the governance of our business. We are delighted that she has chosen to join us.”
Ms. Martin is a member of the Advisory Board of Moosehead Breweries as well as Crosby Molasses, and is a Director of Vineland Research and Innovation Centre, a leader in horticultural research and innovation. From 2016 to 2018, she served as Board Chair of Food & Consumer Products of Canada (FCPC), which represents more than 100 food, beverage, and consumer product manufacturers of all sizes. From 2013 to 2018, she was a Director of The Grocery Foundation, a not-for-profit organization that has raised over $90 million for student nutrition programs. Ms. Martin is a graduate of Wilfrid Laurier University (Bachelor of Business Administration) and earned the Institute of Corporate Directors ICD. D designation in 2016.
“MediPharm Labs has industry leading capabilities and talent, an impressive roster of enabling licenses – including a Research Licence for Human Administration Trials and Product Tasting of Cannabis – a credible plan for growth and the financial resources to execute its strategy,” said Ms. Martin. “Because it puts such a substantial emphasis on scientific research and consumer-driven innovation, and has internationally recognized GMP production credentials, I believe MediPharm Labs has what it takes to win over the world’s leading consumer packaged goods and pharmaceutical companies as they investigate the exciting opportunities available in the cannabis market. I look forward to participating in the development of this dedicated business.”
In connection with her appointment, the Company granted 300,000 options to Shelley Martin at an exercise price set as at the close of business on June 22, 2020. Each grant has a five-year term expiring June 22, 2025.
With Ms. Martin’s appointment, MediPharm Labs’ Board of Directors will consist of 7 members, 4 of whom are independent.
For Full Release: https://www.globenewswire.com/news-release/2020/06/23/2051957/0/en/REPEAT-MediPharm-Labs-Appoints-Former-Nestl%C3%A9-Canada-President-and-CEO-Shelley-Martin-to-Board-of-Directors.html
June 19, 2020 - MediPharm Labs Australia Enters Into New Supply Agreement With VIVO Cannabis and Prepares to Commence Sales
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 that its subsidiary, MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”) has entered into an agreement to supply pharmaceutical-quality (GMP certified), formulated cannabis oil products to Beacon Medical Australia Pty. Ltd. (“Beacon Medical Australia”), a subsidiary of VIVO Cannabis Inc. (TSX: VIVO, OTCQX: VVCIF) (“VIVO Cannabis”).
Under the agreement with Beacon Medical Australia, which has an initial one-year term subject to renewal, MediPharm Labs Australia will supply a full range of GMP-certified, formulated CBD and THC cannabis oil products to Beacon Medical Australia for further distribution under its own branding.
“Just weeks after MediPharm Labs Australia was granted GMP Certification, we’re pleased to announce this agreement that underscores the burgeoning demand for our specialized skills and rapid success in converting our opportunity pipeline into tangible, revenue-generating business,” said Warren Everitt, CEO, Asia Pacific, MediPharm Labs. “We are excited to be working with VIVO to bring high quality products to medical consumers across Australia and other emerging markets.”
“VIVO’s international efforts remain focused on the emerging Australian and German markets and we continue to seek out partnerships with organizations that have proven track records,” said Barry Fishman, CEO of VIVO. “For this reason, we are thrilled to be working with MediPharm Labs to leverage their GMP production capabilities to accelerate our Australian market presence. We are confident this will allow us to continue to provide our Australian patients with the medical-grade products they have come to expect from the Beacon Medical™ brand.”
MediPharm Labs Australia Nearing Commercialization and First Revenues
MediPharm Labs also announced that MediPharm Labs Australia has received a large shipment of 35,000 GMP-units of formulated finished products and a large volume of bulk oil for further manufacturing into finished products, from its Barrie, Ontario facility to meet its burgeoning customer needs within the Australian domestic and export cannabis markets.
Australia remains one of the fastest growing medical cannabis markets in the world. According to the Therapeutic Goods Administration (TGA), the rate of medical cannabis approvals is accelerating in Australia. Up to May 31, 2020, the TGA had approved over 46,000 SAS Category B applications for unapproved medicinal cannabis products, with 83% of all those approvals occurring in the last 12 months alone.1 Currently, the Australian legal cannabis market is estimated at US$40 million, and as a result of various recent regulatory changes is expected to grow to US$170 million by next year, and over $1 billion by 2023.2
“Since we expect to expand our international distribution of proprietary cannabis concentrate products for sale globally, we intend to continue to use our Barrie, Ontario facility to supply finished goods to complement our asset in Australia,” said Warren Everitt, CEO, MediPharm Labs Australia. “Having two GMP-certified manufacturing platforms integrated into a global supply-chain gives us flexibility to respond to global demand in an efficient and effective manner for our customers.”
“By leveraging our deep scientific, production and regulatory expertise, we have created two strong GMP certified manufacturing platforms, secured all licenses necessary to operate on a multi-jurisdictional basis and developed a very attractive portfolio of international supply agreements that will make great use of our industry-leading pharma-quality capabilities,” said Pat McCutcheon, CEO, MediPharm Labs. “We have a very clear roadmap for international expansion and now the means to begin achieving our objectives in a risk-managed but assertive fashion.”
June 04, 2020 - MediPharm Labs Accelerates Growth of Pharma-Quality Product Portfolio With Launch of its New CBD50 Plus Formula
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 significant advancement for Canadian consumers with the introduction of MediPharm Labs CBD50 Plus Formula (“CBD50”), a uniquely formulated, high potency oil for medical and adult use, that expands the Company’s its pharma-quality product portfolio.
As a matter of strategy, MediPharm Labs has dedicated itself to using its proven platform and expertise to expand its white label product portfolio and develop its own in-house Cannabis 2.0 brands – all with an unwavering commitment to offering Canadian consumers truly differentiated cannabis derivative products.
“We’ve positioned ourselves to lead the market in well-defined Cannabis 2.0 categories on our own and through our growing white-label supply business,’” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Today’s announced product launch, coupled with other recently formed partnerships, demonstrate just how far we’ve come in realizing our ambition to transition our focus to commercializing and distributing a robust portfolio of pharma-quality products.”
MediPharm Labs CBD Line
Using its sophisticated, pharmaceutical-quality GMP certified platform and R&D capabilities, MediPharm Labs has launched CBD50 Plus Formula, which is designed to meet consumer and patient demand for high potency formulations. CBD50 is a 50:1 CBD:THC formulated oil, with on average twice-the-potency of other bottled CBD oils currently available in the adult-use market. Offering both purity and potency, CBD50 Plus Formula contains approximately 1000mg of Total CBD and 2mg of THC per 20ml bottle. CBD50 will be available in multiple distribution channels to address the needs of approximately 1.1 million Canadians who now use cannabis for medical purposes, according to Statistics Canada1. CBD50 joins MediPharm Labs’ first in-house branded product – CBD25 Regular Formula– which was introduced at the end of March 2020 with shipments made to Medical Cannabis by Shoppers, the Ontario Cannabis Store, BC Cannabis Stores, as well as to select private retailers in Saskatchewan and Manitoba.
“With a unique understanding of consumer preferences, our growing reputation for product and distribution excellence, and our pipeline of new business opportunities, I believe the best is yet to come for our customers.”
Cannabis 2.0 Update
In late December 2019, the Company commenced shipments of Cannabis 2.0 products into three of Canada’s provincial jurisdictions – British Columbia, Manitoba and Saskatchewan.
Since then, MediPharm Labs has received multiple reorders and added several notable new customers:
- On May 27, 2020, the Company signed a white label supply agreement with Argentia Gold Corporation, a Canadian vertically integrated licensed producer, to bring premium cannabis-infused products to Atlantic Canada
- On May 25, 2020, the Company introduced a highly anticipated and innovative suite of Ace Valley Vapes under a white label agreement in several Canadian markets
- On May 14, 2020, the Company signed a multi-faceted agreement to produce Avicanna’s Rho Phyto™ medical cannabis products and Pura Earth™ topicals under license for commercial sales through Medical Cannabis by Shoppers™ and received a license to use proprietary Avicanna formulations to develop additional MediPharm Labs and white label branded products for domestic and international markets
MediPharm Labs is able to supply and provide tailored product formulations and solutions to its Licensed Producer and CPG customers who serve the four product categories recognized under Schedule 4 of the Cannabis Act: cannabis extracts (for ingestion and inhalation), cannabis topicals, edible cannabis (beverages and food products) and cannabis oils. This broad exposure to Cannabis 2.0 categories is a key business strength.
“As the market for Cannabis 2.0 products matures, MediPharm Labs will be there giving Canadians exactly what they want, when they want it, at pharma-quality,” said Mr. McCutcheon. “We look forward to playing a defining role in our industry in the months ahead as we continue to develop and distribute product formats and formulations that lead the market.”
For Full Release: https://www.globenewswire.com/news-release/2020/06/04/2043578/0/en/MediPharm-Labs-Accelerates-Growth-of-Pharma-Quality-Product-Portfolio-With-Launch-of-its-New-CBD50-Plus-Formula.html
May 27, 2020 - MediPharm Labs and Argentia Gold to Bring Premium Cannabis-Infused Products to Atlantic Canada
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 and Argentina Gold Corporation (“Argentia Gold”), a Canadian vertically integrated licensed producer, today announced the formation of a supply arrangement to bring premium cannabis-infused products to Atlantic Canada.
Under the agreement, which has an initial 2-year term, MediPharm Labs will provide Argentia Gold-branded formulated tincture bottles of CBD cannabis resin and Argentia Gold will provide distribution, sales, and service to leading retailers in Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick.
“We are committed to delivering the highest quality products to our customers throughout Atlantic Canada and doing so in partnership with MediPharm Labs is a virtual guarantee of success,” said Dave Thomson, President of Argentia Gold. “As our white-label supply partner, MediPharm Labs is able to address exactly what we need: reliable, responsive production that meets Good Manufacturing Practice (GMP) standards backed by some of the cannabis industry’s most knowledgeable scientists, pharmaceutical professionals and extraction specialists. Argentia Gold’s destination is market leadership and this agreement is an important milestone in our journey.”
Canadian consumption rates for cannabis are the highest per capita in Atlantic Canada (up to 26.8 percent in Nova Scotia, 25.2 per cent for Newfoundland, 23.2 per cent for Prince Edward Islandi). In comparison, the cannabis consumption rate for Ontario is up to 18.1 per centii.
“Consumers in Atlantic Canada deserve only the very best quality cannabis-infused products and that’s exactly what they will receive as a result of this exciting partnership,” said Pat McCutcheon, CEO of MediPharm Labs. “Argentia Gold is deeply invested in their community, understands the market, knows local preferences and with a trusted portfolio of premium products will no doubt grow into one of Canada’s foremost licensed producers. We are very proud to play a formative role in the next stage of their development.”