Medipharm Labs Corp T.LABS

Amazing!!!!

[BigPoppaStock]

https://www.globenewswire.com/news-release/2019/08/12/1900757/0/en/MediPharm-Labs-Reports-Strong-Profitable-Second-Quarter-Results.html

KEY Q2 2019 HIGHLIGHTS⁽²⁾ 

• Revenue was $31.5 million, a 43% increase over Q1 2019, reflecting the Company’s leadership of the Canadian cannabis extraction-only industry and ramp up of new committed contracts

• Gross Profit was $11.3 million, a 65% increase over Q1 2019, while Gross Margin was 36% compared to 31% in Q1 2019, reflecting increased production and production efficiency that continues to improve as the Company realizes economies of scale

• Adjusted EBITDA⁽¹⁾ was $7.7 million, 79% higher than Q1 2019, while Adjusted EBITDA⁽¹⁾ margin was 24% compared to 20% in Q1 2019

• Net income before tax was $4.1 million compared to a net loss of $0.3 million in Q1 2019

• Gross proceeds of $75 million were received from an oversubscribed bought-deal offering of 13.5 million common shares at a price of $5.55 per share and $9.5 million proceeds from warrant exercises

• Investing capital raised to build additional scale in Canada and Australia that will support an increase in the Company’s addressable markets and further diversify its product lines in anticipation of expanded Canadian legalization in the fall of 2019