MediPharm Labs Announces Upgrade to the OTCQX Best Market in the U.S. Under Symbol “MEDIF”
02 Mai 2019 - 1:01PM
MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF) (FSE: MLZ)
(“MediPharm Labs” or the “Company”) a global leader in specialized,
research-driven cannabis extraction, distillation, purification and
cannabinoid isolation, is pleased to announce that the Company has
qualified to trade on the OTCQX® Best Market. MediPharm Labs
upgraded to OTCQX from the OTCQB® Venture Market and begins trading
today under the symbol “MEDIF”.
U.S. investors can find current financial
disclosure and Real-Time Level 2 quotes for the company on
www.otcmarkets.com.
“As the first fully Licensed Producer to
specialize solely in extraction, we have quickly scaled operations
to emerge as the dominant market leader in the manufacturing of
high quality, pharmaceutical-like production of cannabis derivative
products – the future of cannabis,” said Pat McCutcheon, Chief
Executive Officer, MediPharm Labs. “We have embarked on an
ambitious plan to accelerate our growth domestically and
internationally to become a global leader. Upgrading to the OTCQX
Market from the OTCQB Market is another step in our plan to achieve
accelerated growth that also demonstrates our commitment to
transparency, improving liquidity, and further expanding our
exposure and access to our stock for investors to share in the
future upside potential of MediPharm Labs.”
“MediPharm Labs joins the OTCQX Best Market,
trading alongside companies that are leaders and innovators in
their industries,” said Jason Paltrowitz, EVP of Corporate Services
at OTC Markets Group. “OTCQX enables international companies to
provide their investors with a transparent U.S. public market to
research and trade their stock. We congratulate MediPharm Labs
Corporation on upgrading to the OTCQX Market.”
About OTC Markets Group
Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates
the OTCQX® Best Market, the OTCQB® Venture Market and the Pink®
Open Market for 10,000 U.S. and global securities. Through
OTC Link® ATS and OTC Link ECN, we connect a diverse network of
broker-dealers that provide liquidity and execution services.
We enable investors to easily trade through the broker of their
choice and empower companies to improve the quality of information
available for investors.
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs 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 licence. This expert
focus on cannabis concentrates from being built to cGMP (current
Good Manufacturing Practices) and ISO standard-built clean rooms
and critical environments laboratory, allows 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.
Through its subsidiary, MediPharm Labs Australia
Pty. Ltd., MediPharm Labs has also completed its application
process with the federal Office of Drug Control to extract and
import medical cannabis products in Australia.
For further information, please
contact: Laura Lepore, VP, Investor
Relations Telephone: 705-719-7425 ext 216 Email:
investors@medipharmlabs.com Website:
www.medipharmlabs.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION:
This news release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of the applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that involves discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often but
not always using phrases such as “expects”, or “does not expect”,
“is expected”, “anticipates” or “does not anticipate”, “plans”,
“budget”, “scheduled”, “forecasts”, “estimates”, “believes” or
“intends” or variations of such words and phrases or stating that
certain actions, events or results “may” or “could”, “would”,
“might” or “will” be taken to occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. In this news release, forward-looking statements relate
to, among other things, statements regarding accelerating growth,
the establishment of operations in Australia, and statements
regarding benefits of upgrading to OTCQX, including transparency,
improved liquidity, and further expanding our exposure and access.
Forward-looking statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not
limited to: general business, economic, competitive, political and
social uncertainties; the inability of MediPharm Labs to obtain
adequate financing; the delay or failure to receive regulatory
approvals: and other factors discussed in the Company’s filings,
available on the SEDAR website at www.sedar.com. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on the forward-looking statements and
information contained in this news release. Except as required by
law, MediPharm Labs assumes no obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change.
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