MediPharm Labs Corp. Bolsters Leadership & Operational Expertise to Further Accelerate Growth

BARRIE, Ontario, Oct. 19, 2018 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (“MediPharm Labs” or the “Company”) (TSXV: LABS) continues to build momentum towards its goal of becoming a global leader in pharmaceutical-grade cannabis concentrates, by adding to its existing management strength. MediPharm Labs is pleased to welcome pharmaceutical industry veteran David Mayers as the Company’s newly appointed Chief Operating Officer, and top cannabis compliance professional Anuja Siwakoti as the Company’s newly appointed Director of Global Regulatory and Scientific Affairs. These two senior team members will play critical roles in leading MediPharm Labs’ assertive growth plans in Canada and into international markets, where cannabis is federally legal.

“David and Anuja reflect the already high level of expertise and professionalism of our senior management team” says Pat McCutcheon, President and CEO of MediPharm Labs. “Our vision of international leadership in pharma-quality cannabis concentrates and isolates requires this elevated standard of qualifications. We continue building strength to meet our goals.”

New Senior Leadership

David Mayers brings over 28 years of pharmaceutical leadership in large multinational firms and small privately held organizations, with extensive experience in corporate strategy and oversight, research and development (“R&D”), quality, lean sigma, production, supply chain, procurement, information technology, finance, product development, product launch, facility expansion, security and the management of controlled substances. Starting his career as a chemist for SmithKline Beecham (now GlaxoSmithKline), David progressed through roles of increasing responsibility for Taro Pharmaceutical Industries Ltd., Merck KGaA, Apotex Inc. and later Purdue Pharma (Canada). Most recently, David served as the Chief Operating Officer and member of the Board of Directors for Impopharma Inc., a pharmaceutical company specializing in the development and launch of pulmonary and nasal inhalation pharmaceutical products. In his role at Impopharma Inc., David led a turn-around of the company’s R&D programs and facilitated its acquisition. David received his Hons. B.Sc. in Biological Science from the University of Guelph and an MBA from the Rotman School of Business, University of Toronto.

Anuja Siwakoti has 8 years of experience in cannabis research, academia and work in the regulated cannabis industry in Canada. Most recently, Anuja worked as a Senior Quality/Regulatory Consultant at Cannabis Compliance Inc., global cannabis consulting firm. In that role, she provided quality and regulatory consulting services to over 50 clients, assisting with operational gap assessment and GPP/GMP audits, guiding close to one dozen clients with licence receipt from Health Canada, and navigating through the cannabis regulatory jurisdiction of multiple countries/US states. Anuja previously worked for two and a half years at Aphria Inc., one of Canada’s leading LPs, in a senior role in the Quality Department. She has spoken at numerous scientific conferences and been published in peer-reviewed scientific journals. Anuja holds a Masters degree in Medical Sciences Program from McMaster University.

Operational Expertise

MediPharm Labs has successfully established a team with industry leading expertise in the production of pharmaceutical-grade cannabis concentrates. Under the leadership of our newly appointed Chief Operating Officer, David Mayers, and with the guidance and discipline of our Director of Quality Control and Assurance, Dr. Chris Talpas, MediPharm has developed proprietary methodologies and operational efficiencies which have been leveraged to build a library of purified concentrates and distillates.

The Company’s dynamic production has been achieved through the operation of two production shifts daily, run by approximately 20 production technicians. Operations are led by sector specialists with deep expertise in cannabis extraction, complemented by 10+ years of pharmaceutical production experience to GMP standards. Adjunct cannabis consultants provide additional knowledge from their home markets of California (legal adult-use since Jan 2018 with 150 allowable products) and from the United Kingdom with 20+ years chromatophary expertise.

A first-mover in cannabis extraction and purification in Canada, MediPharm Labs has invested in an expert team, customized state-of-the-art technology, proprietary methodologies and purpose-built facilities to deliver pharmaceutical-grade and precisely dosable cannabis oils and cannabis concentrates for advanced derivative products. Purified cannabis concentrates have emerged as a preferred basis for consumption and are also the critical elements for isolate and infused products for both the medical and adult use markets where legal globally. MediPharm Labs is in active conversations regarding the importing and exporting of medical cannabis where federally permissible. Anuja Siwakoti, as the Director of Global Regulatory and Scientific Affairs will assist in advancing MediPharm’s global expansion.

About MediPharm Labs Corp.

MediPharm Labs, through its subsidiary, is a pioneer in the cannabis industry and has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the Access to Cannabis for Medical Purposes Regulations (ACMPR) without first receiving a cannabis cultivation licence. This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to work with its established, Health Canada-approved cultivation partners to produce pharmaceutical-grade cannabis oil with a competitive advantage. MediPharm Labs is research-driven and focused on downstream secondary extraction methodology, distillation, and cannabinoid isolation and purification. MediPharm Labs, through its subsidiary, provides B2B contract processing of cannabis to Canadian authorized licensed producers and appropriate international growers, supplying integrity-assured cannabis oil to qualified companies for sale under their own brand. In addition, MediPharm Labs will supply raw materials, formulations, processing and packaging for the creation of ready-to-sell advanced derivative products. 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.

Further Information

For additional information, please see the Company’s website at www.medipharmlabs.com or contact:

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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, among other things, future growth and expansion goals. 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; and the delay or failure to receive regulatory approvals. 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, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Disclaimer

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About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.