MediPharm Labs (TSXV: LABS) (OTCQX: MEDIF) (FSE: MLZ) announced today that it has received an export permit from Health Canada for the shipment of solid cannabis concentrate as well as an import permit from the Australian Government’s Office of Drug Control Section.
The company also announced the successful completion of their first shipment of medical cannabis concentrate to Australia. The company receiving the shipment of cannabis concentrate was AusCann Group Holdings (ASX: AC8).
MediPharm Labs became the first Canadian cannabis extraction-only company to publicly announce receiving a Health Canada export permit allowing for the shipment of solid cannabis concentrate, under the new regulations, from Canada to Australia.
“As we look to remain a global leader in cannabinoid extraction, we are proud to have completed our first international shipment of MediPharm Labs’ cannabis concentrates to Australia,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “We expect to see international demand, including in Europe and Australia, for MediPharm Labs’ cannabis concentrates continue to grow as our team has built a strong reputation for producing high quality, pharmaceutical like concentrates at commercial scale and proven our ability to ensure a global supply chain. We are excited to be completing our EU GMP certification which will enable us to export to Europe and tap into these additional sources of demand.”
About MediPharm Labs:
Founded in 2015, MediPharm Labs Inc. has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license. This expert focus on cannabis concentrates begins in its purpose-built laboratory designed to incorporate EUGMP (European Good Manufacturing Practices) workflow and ISO standard-built clean rooms and critical environments, allowing MediPharm Labs to produce purified, pharmaceutical-like cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce cannabis oil concentrate products for resale globally on a private label basis.
MediPharm Labs (TSXV: LABS) 6 Month Chart
MediPharm Labs (TSXV: LABS) Technical Analysis Signal