TORONTO, Oct. 03, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: 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 it will release its third quarter financial results for the three and nine months ended September 30, 2019 before markets open on Tuesday, November 12, 2019, in advance of the Company’s TSX issuer reporting deadline.
“Our strong and profitable performance in first half of 2019 has positioned MediPharm Labs well to execute on our existing long-term contracts and continue building on our positive operational momentum as a top tier Canadian licence holder,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Following our successful capital raise during the second quarter that added gross proceeds of over $70 million, we continue to make excellent progress deploying capital towards strategic value creation initiatives including the expansion of our state of the art commercial scale extraction facility in Barrie, Ontario, accelerating the completion of our new extraction-only facility in Australia, and achieving EU GMP certification to support domestic and international growth.”
The Company will also host a conference call and audio webcast on Tuesday, November 12, 2019 at 8:30 a.m. eastern time to discuss its results and outlook.
Conference Call Information: Toll-free number: 877-791-0216 / International number: 647-689-5661/ Conference ID: 6389604
Participants are asked to dial in approximately 10 minutes before the start of the call.
An audio webcast will be available in the Events section of the MediPharm Labs’ Investor Relations website https://ir.medipharmlabs.com/news-events or by visiting the following link:
For those who are unable to participate on the live conference call and webcast, a replay will be available approximately one hour after completion of the call.
Replay Information:Replay number: 800-585-8367 / International replay number: 416-621-4642/ Conference ID: 6389604
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-grade cannabis oil and concentrates and advanced derivative products utilizing cGMP (current Good Manufacturing Practices) designed facility and 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 5 primary extraction lines having 300,000 KG of annual processing capacity to deliver pure, safe and precisely-dosed cannabis products for its customers. Through the Company’s wholesale, private and white label platform, MediPharm Labs formulates, processes, packages and distributes active pharmaceutical ingredients and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs’ completed its first commercial export to Australia in June 2019 and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 KG of annual processing capacity.
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, building positive operational momentum, strategic value creation initiatives, expansion of the Barrie facility, achieving EU GMP certification to support domestic and international growth, accelerating the completion of the Australian facility and the processing capacity of the Australian facility. 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.