| Supply: MediPharm Labs Corp.
- A pacesetter in CBN merchandise, MediPharm Labs, provides CBN:CBD merchandise to its wellness portfolio for customers and sufferers in search of a product with out THC results.
- New CBN merchandise embrace CBN:CBD 1:2 Chill out Method Oil and a Northbound excessive CBN and excessive CBD vape cartridge.
BARRIE, Ontario, Nov. 23, 2021 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a pharmaceutical firm specialised in precision-based cannabinoids, is happy to announce the enlargement of its distinctive cannabinol (“CBN”) product line.
“Once again MediPharm Labs continues to innovate and commercialize unique cannabinoids. Our exciting new CBN:CBD is a unique formulation that allows consumers a CBN product without the effects of THC. This is an exciting addition to our wellness line of products which is produced to a pharmaceutical quality standard in a GMP licensed facility,” mentioned Bryan Howcroft, CEO, MediPharm Labs. “Remaining on the forefront of innovation, MediPharm continues its pursuit to be recognized as the best precision-based cannabinoid company in the world.”
These new merchandise are the newest being launched after the success of the Firm’s CBN:THC Nighttime Method and Northbound Excessive CBN vape cartridge launched within the second quarter of 2021. CBN is usually present in solely hint portions within the hashish plant however will be shaped by means of oxidation of THC. Like THC, it binds to the endocannabinoid CB1 receptors however binds 8-10 instances much less strongly leading to much less psychoactive results than THC on the identical dose.
The Firm believes this product addresses an untapped market and is prone to surpass the success of the 2 present CBN:THC merchandise which, primarily based on October 2021 gross sales, have an annualized income of $1.65M, web of excise obligation.
As of at the moment, these new merchandise shall be obtainable in Ontario in each retail shops and on the OCS.ca e-commerce web site, with plans to distribute to the Firm’s different six provincial distributors within the coming months.
The Firm appears ahead to additional speaking new merchandise to enhance income from Canadian distribution. The Firm’s Canadian distribution additionally acts as proof of idea for worldwide distribution and enormous pharmaceutical and pure well being product contract manufacturing companies, given MediPharm Labs’ distinctive GMP Drug Institution and Pure Well being Product manufacturing licenses.
About MediPharm Labs
Based in 2015, MediPharm Labs specializes within the improvement and manufacture of purified, pharmaceutical-quality hashish concentrates, lively pharmaceutical elements (API) and superior by-product merchandise using a Good Manufacturing Practices licensed facility with ISO standard-built clear rooms. MediPharm Labs has invested in an skilled, analysis pushed staff, state-of-the-art know-how, downstream purification methodologies and purpose-built amenities with 5 major extraction strains for supply of pure, trusted and precision-dosed hashish merchandise for its clients. By its wholesale and white label platforms, MediPharm Labs formulates, develops (together with by means of sensory testing), processes, packages and distributes hashish extracts and superior cannabinoid-based merchandise to home and worldwide markets.
In 2021, MediPharm Labs acquired a Pharmaceutical Drug Institution License from Well being Canada, turning into the one firm in North America to carry a home Good Manufacturing License for the extraction of pure cannabinoids.
Cautionary Notice Concerning Ahead-Wanting Info:
This information launch comprises “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) inside the that means of the relevant Canadian securities laws. All statements, apart from statements of historic reality, are forward-looking statements and are primarily based on expectations, estimates and projections as on the date of this information launch. Any assertion that entails discussions with respect to predictions, expectations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (usually however not all the time utilizing phrases corresponding to “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “may” or “could”, “would”, “might” or “will” be taken to happen or be achieved) aren’t statements of historic reality and could also be forward-looking statements. On this information launch, forward-looking statements relate to, amongst different issues, statements concerning: being acknowledged as the perfect precision-based cannabinoid firm on the earth; addressing an untapped market; surpassing success of earlier merchandise; distribution to extra provinces; and Canadian distribution performing as proof of idea for worldwide distribution and enormous pharmaceutical and pure well being product contract manufacturing companies. Ahead-looking statements are essentially primarily based upon plenty of estimates and assumptions that, whereas thought of affordable, are topic to recognized and unknown dangers, uncertainties, and different elements which can trigger the precise outcomes and future occasions to vary materially from these expressed or implied by such forward-looking statements. Such elements embrace, however aren’t restricted to: common enterprise, financial, aggressive, political and social uncertainties; the lack of MediPharm Labs to acquire sufficient financing; the delay or failure to obtain regulatory approvals; and different elements mentioned in MediPharm Labs’ filings, obtainable on the SEDAR web site at www.sedar.com. There will be no assurance that such statements will show to be correct, as precise outcomes and future occasions might differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on the forward-looking statements and data contained on this information launch. Besides as required by legislation, MediPharm Labs assumes no obligation to replace the forward-looking statements of beliefs, opinions, projections, or different elements, ought to they alter.
For additional info, please contact: MediPharm Labs Investor Relations Phone: +1 416.913.7425 ext. 1525 E mail: Web site: www.medipharmlabs.com