BARRIE, Ontario, Oct. 31, 2019 (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 purification, is pleased to announce that its wholly owned subsidiary, MediPharm Labs Inc. (“MediPharm”), has received its Cannabis Research Licence under Health Canada’s Cannabis Act and Cannabis Regulations.
This licence permits MediPharm to conduct controlled human administration trials of dried cannabis, cannabis extracts and concentrates, distillates, oil, edibles, topicals and terpenes at its state-of-the-art production facilities, built to EU-GMP standards, in Barrie following quality assurance testing. Cannabis companies without this licence cannot use sensory experiments with taste, thus limiting their understanding of the taste profile of the raw material, in-process material and finished products.
“This licence is a game-changer for our R&D process and the timing of receipt, which coincides with the Canadian legalization of edibles, beverage-infused drinks and topicals, enables MediPharm Labs to perfect our products for human consumption,” said Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Scientific study and testing of sensory properties in our process gives us a competitive edge, one that we know consumer-packaged goods companies and licence holders selling to retail will value and employ. Understanding the multiple variables that may influence consumer preferences, while establishing scientific testing data, is key to developing innovative products that provide consumers with a “choice”, also leading to increased consumer acceptability. We see this development as a catalyst for additional sales growth and customer service.”
Sensory evaluation is a fundamental scientific discipline used throughout the food and beverage industry to gauge human reactions to stimuli perceived through smell, sight, touch and taste. It will now also become an indispensable part of the process used at MediPharm as the company tests product ingredients and flavours including terpenes (the aromatic oils that give cannabis its distinctive smell) before they are used in downstream formulation processes. MediPharm already uses many other quality tests including screening for microbial and chemical contaminants.
“Canadian cannabis consumers deserve the very best experience and should expect the highest standards for taste and quality,” said Mr. McCutcheon. “They will get both when MediPharm Labs is part of the value chain.”
The Health Canada Research Licence adds to the Company’s growing portfolio of Canadian and international licences. These licences, along with proprietary extraction processes, are among MediPharm Labs’ most coveted assets.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-like cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices designed facility and ISO standard built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines having 300,000 kg of annual processing capacity to deliver pure, trusted and precisely-dosed cannabis products for its customers. Through its wholesale, white label and tolling platforms, the Company formulates, processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, the Company has also completed commercial exports to Australia and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 kg of annual processing capacity.
For further information, please contact:
MediPharm Labs
Laura Lepore, VP, Investor Relations
Telephone: 705-719-7425 ext 216
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, developing innovative products, increased consumer acceptability of products, additional sales growth and customer service, the completion of the Australian facility and the processing capacity of the Australian facility. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.
