LONDON, ON, Sept. 4, 2018 /CNW/ – INDIVA Limited (the “Company” or “INDIVA”) (TSXV: NDVA) is pleased to announce its wholly-owned subsidiary, INDIVA Inc., has entered into a Cannabis Concentrate Program Agreement (the “Agreement”) with MediPharm Labs Inc. (“MediPharm”). Pursuant to the Agreement, the parties have entered into a commercial arrangement whereby INDIVA will provide MediPharm with dried cannabis to use for the purposes of creating cannabis oil (the “Program”). The Program will be for an initial term of three years.
Subject to the bulk transfer approval of Health Canada and other applicable regulatory approvals, INDIVA will ship dried cannabis to MediPharm which MediPharm will use to produce cannabis oil. The parties intend that under the Program, MediPharm may provide cannabis oil to INDIVA or to other licensed producers of medical cannabis at the direction of INDIVA. Alternatively, INDIVA may release the cannabis extract for use by MediPharm. The Program will be established at no capital cost to INDIVA; however, MediPharm will charge INDIVA processing fees for the cannabis oil produced, and the revenue earned on sales of cannabis oil by MediPharm will be shared between MediPharm and INDIVA.
We are very happy to partner with MediPharm and we are excited to accelerate our offering of cannabis oil to our clients. We will continue to construct our extraction facility and lab in London, however this partnership provides near term capacity, as well as terrific long-term potential, as we prepare for the recreational market to commence, and for the market to shift towards the manufacture and sale of derivative products.
Niel Marotta, INDIVA’s President and Chief Executive Officer
Pat McCutcheon, MediPharm’s President and Chief Executive Officer said: “We’re very proud to provide a comprehensive oil strategy and a long-term partnership with a company with such unique genetics and proven experience and expertise in its cultivation and grow strategies.”
About MediPharm Labs Inc.
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 MediPharm Labs’ cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm 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 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 has also completed its application process with the federal Office of Drug Control to extract and import medical cannabis products in Australia.
For additional information about MediPharm Labs, please see the company’s website: www.medipharmlabs.com
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA’s strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA’s wholly owned subsidiary is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulation (“ACMPR”) with its first indoor cannabis production facility located in London, Ontario.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products.