MediPharm Labs Commences Trading in United States on OTCQB Market Under Symbol MLCPF
TORONTO, Jan. 07, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSXV:LABS) (OTCQB:MLCPF) (the “Company” or “MediPharm Labs”), a specialized, research-driven cannabis extraction business, fully licensed under the Cannabis Act (Canada) focused on downstream secondary extraction methodology, distillation, and cannabinoid isolation and purification, is pleased to announce its common shares will commence trading today on the OTCQB Market (the “OTCQB”), a trading platform in the United States that is operated by the OTC Markets Group in New York. The Company will trade on the OTCQB under symbol “MLCPF”; the Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “LABS”.
Listing on the OTCQB is an important milestone for MediPharm as we build on our vision to be the global leader in purified cannabis concentrates, the fastest growing segment in the Cannabis Industry.
Pat McCutcheon, President and CEO, MediPharm Labs
We are excited to have our shares commence trading on the OTCQB which will improve liquidity and expand MediPharm’s presence and exposure in the U.S. as we introduce the Company to a broader audience of U.S. institutional and retail equity investors. U.S. investors will now be able to share in our continued expansion and exciting plans for growth internationally.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
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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 its cGMP (current Good Manufacturing Practices) and ISO standard-built 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. MediPharm Labs was awarded Start-Up Of The Year at the recent Canadian Cannabis Awards hosted by Lift & Co.
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, Vice President, Investor Relations & Communications
Telephone: 705-719-7425 ext 216