Post by
1hot-techwoman on Sep 18, 2024 8:42am
No Debt and Large Cash is wonderful thing for LABS :)
Now lets grow the company !! $$$$
TORONTO, Sept. 17, 2024 /PRNewswire/ - MediPharm Labs Corp. ("MediPharm" or the "Company") (TSX: LABS), a specialized, research-driven pharmaceutical company focused on cannabis-based health products, is pleased to announce that it has paid off the entire remaining convertible debt amount of $2.1 million, leaving the Company materially debt-free.
With this debt repayment, MediPharm now enjoys a robust financial position with more than $13 million in cash and full ownership of three facilities. This achievement reflects the Company's prudent financial management and commitment to maintaining a strong balance sheet
In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US FDA.
Comment by
subaru1 on Sep 18, 2024 3:36pm
A growth of 20%/qrt for the next 2 or 3 years will be wonderful