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MediPharm Labs Corp. Announces Grant of Stock Options

20:00 EDT 23 Oct 2018 | Globe Newswire

TORONTO, Oct. 24, 2018 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSXV: LABS) (the “Company” or “MediPharm Labs”) is pleased to announce that the board of directors of the Company has approved the granting of options (the “Options”) to purchase up to 3,000,000 common shares in the capital of the Company to certain directors, officers, employees and consultants of MediPharm Labs pursuant to the Company’s stock option plan. The Options are exercisable at a price of $1.68 per share for a period of five (5) years from the date of issuance.

“MediPharm Labs has a goal of becoming a global leader in pharmaceutical-grade cannabis concentrates. Options strengthen the Company’s ability to attract and retain great talent, and to build a culture where employees are highly engaged in executing the corporate vision” says Pat McCutcheon, President and CEO of MediPharm Labs.

About MediPharm Labs Corp.

Founded in 2015, MediPharm Labs is a pioneer in the cannabis industry and has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the Access to Cannabis for Medical Purposes Regulations (ACMPR) without first receiving a cannabis cultivation licence. This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to work with its established, Health Canada-approved cultivation partners to produce pharmaceutical-grade cannabis oil with a competitive advantage. MediPharm Labs is research-driven and focused on downstream secondary extraction methodology, distillation, and cannabinoid isolation and purification. MediPharm Labs provides B2B contract processing of cannabis to Canadian authorized licensed producers and appropriate international growers, supplying integrity-assured cannabis oil to qualified companies for sale under their own brand. In addition, MediPharm Labs will supply raw materials, formulations, processing and packaging for the creation of ready-to-sell advanced derivative products.

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:

Patrick McCutcheon, President and CEO, MediPharm Labs Corp.
Telephone: 705-719-7425
Email:  investors@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.

 

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