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BARRIE, Ontario, Oct. 25, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Firm”) a worldwide chief in specialised, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is happy to announce that its co-founders, Pat McCutcheon (Chairman & CEO) and Keith Strachan (Director & President), had been named as finalists within the EY Ontario Entrepreneur of the 12 months Award within the Well being & Life Sciences class. Finalists and winners had been introduced on October 24, 2019 in Toronto on the annual awards gala.

The EY Entrepreneur of The 12 months® acknowledges the endeavors of outstanding individuals who create the services and products that maintain native and world economies shifting ahead. Since its inception, Entrepreneur of The 12 months has grown and now contains packages in additional than 145 cities and greater than 60 nations worldwide.

“I’m deeply honoured and humbled to have been named a finalist of this globally acknowledged award,” stated Pat McCutcheon, Chairman and Chief Govt Officer of MediPharm Labs. “We started this firm with a imaginative and prescient to vary the world by harnessing the facility of cannabis. I’m grateful for all who trusted and believed in us alongside the best way, particularly our relentless and hard-working staff, our loyal traders and unwavering family and friends. The immense prospects which can be nonetheless to return on this quickly evolving business makes the way forward for cannabis very vivid. We’re all excited for what can also be nonetheless to return for MediPharm Labs right here in Canada and throughout the globe.”

“It’s been a record-paced 12 months since leisure cannabis was legalized and we commenced gross sales on this new ground-breaking business. We’ve come a good distance by means of many hurdles. We remained steadfast in our imaginative and prescient, believing in ourselves and in our dream of constructing the very best cannabis firm on the planet,” says Keith Strachan, Director and President of MediPharm Labs. “Being acknowledged and named as a finalist for the celebrated Entrepreneur of the 12 months award is an honour and unimaginable validation of the final 4 years. I’m wanting ahead to what the long run holds for MediPharm Labs, we’re simply getting began.”

MediPharm Labs: Our Distinctive Story, Rising A Totally different Hashish Firm

4 years in the past, because the Canadian cannabis business ramped up with the expansion and domination of vertically built-in cultivators, MediPharm Labs’ co-founders, Pat McCutcheon and Keith Strachan, noticed a chance to be completely different. They recognized a phase of the cannabis worth chain they might concentrate on to determine a worthwhile enterprise by specializing within the greater progress space of extraction and pioneering a particular area of interest. They set a precedent with Well being Canada’s software course of, being the primary to ever apply for a cannabis oil manufacturing license with out first having a cultivation license.

Whereas ready for the ultimate levels of licensing to be accomplished throughout a rigorous two-year course of, the 2 entrepreneurs staffed the ability, developed inner protocols, modified gear, fashioned partnerships, amassed dried cannabis stock and produced extracted resin proving their readiness to ship their first gross sales upon receiving their B2B gross sales license on November 9, 2018. They strived to keep up their independence, accepting no fairness possession from different licensed producers, assuring their capacity to work with everybody within the business as a trusted, autonomous provider. With cannabis licence #95 from Well being Canada in hand, MediPharm Labs rapidly vaulted to rank among the many high 5 cannabis-revenue-generators in Canada.

To maintain tempo with change within the business, Pat and Keith, by means of their management, created a tradition of innovation. They invested in a extremely expert crew of execs, many from the bio-pharmaceutical Business. In addition they aligned with outdoors consultants and suppliers to optimize operations, gear and methodologies and established a Science Advisory Committee with internationally esteemed scientists, researchers and medical professionals, who collaborate with MediPharm Labs on developments within the rising fields of cannabinoid extraction and cannabinoid-based spinoff science.

Trying ahead, MediPharm Labs has invested in R&D and strategic alliances to attain its longer-term objective of changing into Lively Pharmaceutical Ingredient supplier for cannabis medicines upon completion of medical analysis trials. MediPharm Labs has set its sights on new jurisdictions which have already authorised medical cannabis use, actively looking for import/export alternatives, whereas additionally constructing their Australian subsidiary facility anticipated to be operational in early 2020.

MediPharm Labs was beforehand awarded Begin-Up of the 12 months 2018 on the Canadian Hashish Awards and its Australian subsidiary was the Innovation Award winner of the Australian Hashish Business Awards in 2019.

About Pat McCutcheon – Chairman and Chief Govt Officer

Earlier than founding MediPharm Labs, Pat loved a 15-year profession within the pharmaceutical business in high gross sales roles, efficiently launching a variety of medical merchandise. He most just lately labored at Janssen Prescription drugs (Johnson & Johnson) the place he led the Hospital Division for Renal and Psychological Well being merchandise. Pat brings this pharmaceutical perspective to MediPharm Labs, investing type the outset in pharma requirements equivalent to ISO rated clear rooms and demanding environments and having our facility constructed and working to European Good Manufacturing Practices. Pat’s foresight in making a enterprise that focuses on superior cannabis concentrates bodes nicely for medical analysis, traders and customers alike. Pat holds an HBSc (Biology) diploma from the College of Western Ontario.

About Keith Strachan – Director and President

Keith Strachan co-founded MediPharm Labs in 2015, using his consultancy experience in Public Sector RFP and authorities contracts, compliance for presidency licensing and native planning, to interrupt the mould and safe the primary Well being Canada Licence for cannabis oil manufacturing with out first being a cultivator. A seasoned entrepreneur, Keith has utilized his management to constructing out MediPharm Labs’ modern amenities, launching operations and rising its workforce, whereas additionally strategically driving enterprise growth with the Firm’s many provide, contract processing and white label accomplice LPs.

About EY Entrepreneur of the 12 months®

EY Entrepreneur of The 12 months® is the world’s most prestigious enterprise awards program for entrepreneurs. This system makes a distinction by means of the best way it encourages entrepreneurial exercise amongst these with potential and acknowledges the contribution of people that encourage others with their imaginative and prescient, management and achievement. As the primary and solely actually world awards program of its sort, Entrepreneur Of The 12 months® celebrates those that are constructing and main profitable, rising and dynamic companies, recognizing them by means of regional, nationwide and world awards packages in additional than 145 cities in additional than 60 nations. ey.com/eoy

About MediPharm Labs Corp.

Based in 2015, MediPharm Labs specializes within the manufacturing of purified, pharmaceutical-grade cannabis oil and concentrates and superior spinoff merchandise using cGMP (present Good Manufacturing Practices) designed facility and ISO normal constructed clear rooms. MediPharm Labs has invested in an knowledgeable, research-driven crew, state-of-the-art expertise, downstream purification methodologies and purpose-built amenities with 5 major extraction strains having 300,000 KG of annual processing capability to ship pure, protected and precisely-dosed cannabis merchandise for its prospects. By the Firm’s wholesale, non-public and white label platform, MediPharm Labs formulates, processes, packages and distributes energetic pharmaceutical elements and superior cannabinoid-based merchandise to home and worldwide markets. As a worldwide chief, MediPharm Labs has accomplished business exports to Australia and is nearing completion of its Australian extraction facility anticipated in 2019 with 75,000 KG of annual processing capability.

For additional data, please contact:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 216
E-mail: [email protected]
Web site: www.medipharmlabs.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This information launch accommodates “forward-looking data” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the that means of the relevant Canadian securities laws. All statements, apart from statements of historic truth, are forward-looking statements and are primarily based on expectations, estimates and projections as on the date of this information launch. Any assertion that includes discussions with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (typically however not all the time utilizing phrases equivalent to “expects”, or “doesn’t count on”, “is anticipated”, “anticipates” or “doesn’t anticipate”, “plans”, “finances”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “might” or “might”, “would”, “would possibly” or “will” be taken to happen or be achieved) should not statements of historic truth and could also be forward-looking statements. On this information launch, forward-looking statements relate to, amongst different issues, statements concerning changing into Lively Pharmaceutical Ingredient suppliers for cannabis medicines, the completion of medical analysis trials, enlargement to different jurisdictions worldwide, import/export alternatives, the completion of the Australian facility and the processing capability of the Australian facility. Ahead-looking statements are essentially primarily based upon a variety of estimates and assumptions that, whereas thought of affordable, are topic to recognized and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such elements embody, however should not restricted to: normal enterprise, financial, aggressive, political and social uncertainties; the lack of MediPharm Labs to acquire sufficient financing; the delay or failure to obtain regulatory approvals; and different elements mentioned in MediPharm Labs’ filings, accessible on the SEDAR web site at www.sedar.com. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers shouldn’t place undue reliance on the forward-looking statements and knowledge contained on this information launch. Besides as required by regulation, MediPharm Labs assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they modify.

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