NEW YORK, May 2, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced MediPharm Labs Corp. (TSX-V: LABS ; FSE: MLZ; OTCQX: MEDIF) ("MediPharm Labs"), a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation with operations in Canada and Australia, has qualified to trade on the OTCQX® Best Market. MediPharm Labs upgraded to OTCQX from the OTCQB® Venture Market.
MediPharm Labs begins trading today on OTCQX under the symbol "MEDIF". U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"MediPharm Labs joins the OTCQX Best Market, trading alongside companies that are leaders and innovators in their industries," said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. "OTCQX enables international companies to provide their investors with a transparent U.S. public market to research and trade their stock. We congratulate MediPharm Labs on upgrading to the OTCQX Market."
"As the first fully Licensed Producer to specialize solely in extraction, we have quickly scaled operations to emerge as the dominant market leader in the manufacturing of high quality, pharmaceutical-like production of cannabis derivative products – the future of cannabis," said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. "We have embarked on an ambitious plan to accelerate our growth domestically and internationally to become a global leader. Upgrading to the OTCQX Market from the OTCQB Market is another step in our plan to achieve our growth objectives while also demonstrating our commitment to transparency, improving liquidity, and further expanding our exposure and access to our stock for investors to share in the future upside potential of MediPharm Labs."
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation licence. This expert focus on cannabis concentrates from being built to cGMP (current Good Manufacturing Practices) and ISO standard-built clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-like cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs' private label program is a high margin business for the Company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce cannabis oil concentrate products for resale globally on a private label basis.
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.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
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OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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SOURCE OTC Markets Group Inc.