- MediPharm Labs receives permits for additional Canadian exports of medical cannabis concentrate to Australia and completes related shipments
- Australian exports represent a 137% greater volume compared to first export in second quarter 2019
TORONTO, Oct. 01, 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 it successfully completed its second set of export shipments of medical cannabis concentrate, which were 137% greater in volume compared to its first export into Australia in June 2019. Through its wholly owned subsidiary, MediPharm Labs Inc., the Company received its second set of export permits from Health Canada to ship an increased volume of medical cannabis concentrates from Canada to Australia. Prior to the shipment, the Australian Government’s Office of Drug Control Section also issued a second set of import permits.
We are pleased to have completed our second set of shipments of medical cannabis concentrate into Australia in the third quarter as we look to participate in addressing the growing Australian medical patient demand.
Pat McCutcheon, Chief Executive Officer, MediPharm Labs
As international demand for purified cannabis concentrates continues to grow, we have focused on expanding our global supply chain and our international presence, including through our recently announced supply agreement for the German medical market. We have also focused on meeting diverse international regulatory and permitting requirements, including working towards our EU GMP, to grow export volumes of MediPharm Labs’ private-label concentrates.
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 commercial exports to Australia and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 kg of annual processing capacity.