PUBLISHED ONApril 01, 2020 11:00 AM
BARRIE, Ontario, April 01, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce that through its subsidiary MediPharm Labs Australia Pty Ltd (“MediPharm Labs Australia”), it has entered into a supply agreement for white label pharmaceutical-quality (GMP certified) cannabis oil products with Burleigh Heads Cannabis Pty Ltd. (“Burleigh Heads”).
Under the agreement, which has an initial 3-year term, MediPharm Labs Australia will supply bottles of white labelled, formulated cannabis oil products for distribution by Burleigh Heads.
Burleigh Heads is an Australian wholesaler of medical cannabis products that are distributed to medical patients and pharmacies across Australia via its innovative online CanView marketplace. Burleigh Heads is a subsidiary of CDA Health Pty Ltd (“CDA”), an established Australian business supporting patient access to medical cannabis products in Australia. Through its CDA Clinics, CDA assists doctors and patients in navigating the State and Federal SAS and Authorised Prescriber processes, and provide educational resources and one-to-one service from their consultant doctors through physical and telehealth clinics. Since first launching in October 2018, CDA Clinics has completed over 6,000 successful patient approvals through the Australian Therapeutic Goods Administration (the “TGA”).
“We are excited to be working with industry leaders like Burleigh Heads and CDA,” said Warren Everitt, Chief Executive Officer, MediPharm Labs Australia. “As the number of patients in Australia increase, we are well positioned to further expand our distribution through various channels and provide a supply of GMP finished products thanks to our international supply chain and the recent TGA GMP certification of our MediPharm Labs Canada facility.”
Guy Headley, Director of Operations for CDA says, “We are thrilled to be partnering with MediPharm Labs Australia to bring quality GMP products to our national network of medical professionals, pharmacies and patients. This is a testament to the progression of the Australian medical cannabis industry’s forward movement which will bring an alternative, more affordable option to patients. We look forward to working closely together with MediPharm Labs into the coming years.”
About Burleigh Heads and CDA
Burleigh Heads is a fully licensed medical cannabis wholesaler which utilises its secure cold-chain facility on Australia’s Gold Coast and national network of independent pharmacies partner network to provide streamlined distribution services throughout Australia. CDA, its parent company, operates CDA Clinics, doctor-led medical cannabis clinics throughout Australia through its network of physician clinics and TeleHealth consultation services. CDA Clinics has completed over 6,000 successful TGA patient approvals since launching in October 2018.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with 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 for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations and Communications
Telephone: 416-913-7425 ext. 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com
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, supply of products to Burleigh Heads for distribution pursuant to the agreement, importation of drugs (including various forms of cannabis) by MediPharm Labs Australia and corresponding export by MediPharm Labs Inc., establishment of a global supply chain, Australian patient numbers increasing, furthering distribution of GMP finished products and the bringing of more affordable options to Australian patients. 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 MediPharm Labs’ 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.
All information contained in this press release with respect to Burleigh Heads and CDA was supplied by Burleigh Heads for inclusion herein.
