Medipharm Labs Corp T.LABS

Houston we have Ignition !! Go Labs Go $$$$

[srtman03]

MediPharm Labs Ships Company Record 550,000 Units in Q4 2020 Monday, January 11, 2021, 7:01 AM ET MediPharm Labs Ships Company Record 550,000 Units in Q4 2020 Expands Health and Wellness Product Portfolio, Distribution Partnerships and Sales Team -- Total units shipped up 205% over Q3 2020 as production takes flight for many top cannabis brands -- MediPharm Labs CBD50 brand ranks #3 in CBD oil and #5 in oil category in Ontario Cannabis Store sales -- New provincial supply agreement with Nova Scotia Liquor Corporation -- First and only producer to launch consumer sized 99% pure CBD Isolate in Canada BARRIE, Ontario, Jan. 11, 2021 (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 and derivative products, achieved Company record finished goods shipments of 550,000 units in the fourth quarter of 2020. These results and the update that follows reflect corporate progress of the Company's Canadian domestic business only. The Company will provide a separate update on the progress of its Australian and international businesses. "Shipment volume is a key measure that illustrates growing market demand and our ability to meet that demand through our GMP-certified facilities, " said Keith Strachan, President and Interim CEO, MediPharm Labs. "This new milestone is something to celebrate but also to surpass as we focus all efforts on accelerating growth and improving profitability in 2021 consistent with the action plan introduced in November." Of the units shipped, 100,000 were owned private label MediPharm Labs Stock Keeping Units (SKUs) compared to 25,000 SKUs respectively in the third quarter. "Demand signals for our proprietary formulations are strong with several already becoming top sellers in many provinces," said Strachan. "In fact, Ontario Cannabis Store sales data show that MediPharm Labs' CBD 50 Plus Formula oil ranks as the third best-selling CBD oil in the province and number five best-selling in the overall oil category. Our reputation for quality and purity is resonating with consumers, provincial distributors and our B2B customers." Included in Q4 shipments were 25 different vape SKUs, reflecting the ongoing ramp up of production and contract manufacturing for many top cannabis brands that count on MediPharm Labs for value-added service and consistent GMP-quality output. Outstanding Launch for Avicanna Inc. Avicanna's RHO Phyto medical formulary line, produced by MediPharm Labs under license, has experienced an incredibly successful launch with overwhelmingly positive support by the medical community including 300 prescribers and 20 clinics. MediPharm Labs has ramped production of six RHO Phyto products to date and expects to continue to increase output to support consumer demand and Avicanna's plan to expand RHO Phyto SKUs to 10 in 2021. New Provincial Supply Agreement During Q4 2020, MediPharm Labs entered a supply agreement with Nova Scotia Liquor Corporation and shipped initial orders to the province. Nova Scotia recently opened additional cannabis stores as part of its growth plan. The Company now has retail distribution agreements with six provinces: B.C., Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia. "We made additional investments in our sales team and we began to reap the benefits in the fourth quarter," said Mr. Strachan. "We added sales resources with the goal of expanding our B2B partnerships, growing market share within our existing provincial distribution footprint and targeting new provincial and retail distribution opportunities. These activities form part of our improvement strategy for 2021." First To Market As part of executing its brand strategy, MediPharm Labs also became the first and only producer in Canada to launch a consumer-sized, 99% pure CBD isolate in Canada. This fourth quarter accomplishment, announced in October 2020, broadens the Company's marketplace to include consumers who favour an all-natural, high-quality/high-potency cannabinoid wellness supplement. Retailers in six provinces received their first shipments of LABS Cannabis CBD Crystalline Isolate in Q4 2020. Initial sales have been strong as MediPharm Labs' CBD Isolate remains the only product available in its class. LABS Cannabis -- Formulated for Life In Q4 2020, MediPharm Labs introduced "LABS Cannabis -- Formulated for Life", a new health and wellness product suite focused on bringing innovative and high-quality cannabis formulations products that integrate into lives of consumers. This research-backed suite leverages innovative and refined extraction and purification methods. All products are manufactured by MediPharm Labs in Barrie Ontario. The brand story is told at https://www.labscannabis.com/.

[shneps]

Good news release. Like the changes since November. Just need to see 4th quarter revenues and see if there is actually any value going forward. Great they are producing good things but you need to do it while making a profit. Cheers

[lscfa]

100,000 x $50 + 450,000 x $20 = $14 million revenue. Is this Canada only? What about international?    

[Lemoyne]

Good news, canada only. Just saying though, that is retail sale price. But yeah, this means significant increase in finished product sales. which could translate to QoQ increase in Q4. Hopefully, bulk hasn't dropped 100%.

[Lemoyne]

I still question how much they make because some of the products vapes/chews are either produced by other businesses (olli makes AV and olli chews) and olli bulk (labs bulk) may have been ordered in Q3 and so this would be more like distribution revenues. In other cases, may be made from previously sold bulk (cron bought a sh*t ton of bulk and may "re-use" it in its vapes) so revenues

[Righttothetop]

The subtle element to this is that LABS decided to issue an interim feel good NR again, which they have not done for a good long while now (for obvious reasons as it turned out). So we can only hope that they trend of positivity continues and that these aren't mere parlour games again. Certainly moving in the right direction for a change.....all we need now is a good CxO announcement.....I

[lscfa]

Alternatively, Q3 rev $4.947 mil x 205% = $15.1 mil Q4 revenue....

[Lemoyne]

But that's the thing, Q3 revs finished products/ white label revs were only 2.7M. And it's blurry as to whether intl rev were included in that 2.7M. All I'm saying is it's hard to interpret this kind of news into hard $$. But there is no doubt they are managing to penetrate new markets and build on already existing ones. With other catalysts coming up : c-suite hirings, stada

[Righttothetop]

You're absolutely right in wondering aloud what the announcement this morning means.....I myself am thinking the same thing.....all good stuff, but let's make it tangible and let's give some clarity on what it actually means to the financials....but like you said, bodes well to a strong start.... But I wouldn't mind of LABS got a bit closer to an outfit like VLNS in terms of

[srtman03]

REPEAT - MediPharm Labs Ships Company Record 550,000 Units in Q4 2020 Tuesday, January 12, 2021, 7:00 AM ET REPEAT - MediPharm Labs Ships Company Record 550,000 Units in Q4 2020 Expands Health and Wellness Product Portfolio, Distribution Partnerships and Sales Team -- Total units shipped up 205% over Q3 2020 as production takes flight for many top cannabis brands -- MediPharm Labs CBD50 brand