RE:Long term contract with Labs ***We have little to do with this from what I see, but the concern people are having is reasonable. It's my understanding that we are supplying them with the trim, and they are processing and bottling our products for a fee.
https://www.supreme.ca/supreme-cannabis-to-launch-high-end-cannabis-oil-products-for-adult-use-market Supreme Cannabis, through its wholly-owned subsidiary, 7ACRES has agreed to supply a minimum of approximately 1,000 kg of high-quality cannabis trim as input per year to MediPharm for the extraction and production of at least 200,000 40ml units of premium, high-terpene cannabis oil products for the adult-use consumer market. Under the terms of this agreement, all cannabis oil products processed by MediPharm will be sold under Supreme Cannabis’ brands, including a new, to be announced brand. The program will be established at no capital cost to Supreme Cannabis, with MediPharm receiving a processing fee based on the cannabis oil produced. ***It's also my understanding that the company they are talking about from the Feb 2019 news release has always remained "unknown" as they never named the company. They also mention that there are UPFRONT fees, something we never agreed to..
https://www.newcannabisventures.com/cannabis-oil-supplier-medipharm-labs-signs-35-million-minimum-supply-deal-with-canadian-licensed-producer/ TORONTO, Feb. 12, 2019 (GLOBE NEWSWIRE) —
MediPharm Labs Corp. (TSXV: LABS) (OTCQB: MLCPF) (“MediPharm”) a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that its wholly-owned subsidiary, MediPharm Labs Inc. (“MediPharm Labs” or the “Company”), has entered into a significant sales agreement with
a leading Licensed Producer to supply approximately $35 million of private label
purified cannabis oil concentrates. Under the terms of the agreement, the Licensed Producer will
immediately purchase upfront $7.66 million of cannabis oil concentrate from MediPharm Labs’ inventory in February 2019.
***in this same news release it then goes on to talk about the other companies, mentioning supreme as one of their contracts among others(which you pasted in your post). It's to fluff up it's own news release... However, keep in mind that the Feb 11th news had nothing to do with our own contract, it's just a mention.
https://www.newcannabisventures.com/medipharm-labs-sues-unnamed-lp-for-9-8-million-seeking-payment-for-cannabis-oil-agreement/ BARRIE, Ontario, Jan. 24, 2020 (GLOBE NEWSWIRE) —
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) today announced that its wholly owned subsidiary, MediPharm Labs Inc., has filed a statement of claim (the “Claim”) in the Ontario Superior Court of Justice against a licensed producer.
The Claim relates to, among other things, the payment of outstanding amounts of approximately $9.8 million pursuant to the
private label cannabis oil sale agreement referenced in MediPharm Labs’ February 11, 2019 news release.
***Purified cannabis extracts, seems to me like it's for edibles, if I had to guess(speculate). Hope this helps.
Ziptrain wrote: Release says private label cannabis oil sales agreement.
MediPharm Labs’ private label program is a high margin business for the Company, whereby it opportunistically procures dry cannabis flower and trim from its thirteen product supply partners, to produce proprietary cannabis oil concentrate products for resale globally on a private label basis.
To date, MediPharm Labs has completed four private label wholesale agreements for cannabis oil concentrate supply (including Canopy Growth Corporation); five long-term cannabis concentrate program (tolling) agreements with James E. Wagner Cultivation Corp., Emerald Health Therapeutics, Inc., INDIVA Limited, The Supreme Cannabis Company, Inc. and TerrAscend Corp.
EMH has a long-term cannabis concentrate program as does Supreme.