MediPharm Labs Sues Unnamed LP for $9.8 Million Seeking Payment for Cannabis Oil Agreement
FeaturedTrending Stories January 24, 2020 MJ Shareholders 0
MediPharm Labs Files Statement of Claim
BARRIE, Ontario, Jan. 24, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) today announced that its wholly owned subsidiary, MediPharm Labs Inc., has filed a statement of claim (the “Claim”) in the Ontario Superior Court of Justice against a licensed producer.
The Claim relates to, among other things, the payment of outstanding amounts of approximately $9.8 million pursuant to the private label cannabis oil sale agreement referenced in MediPharm Labs’ February 11, 2019 news release.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified 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 for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, sensory-tests, processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing commercialization of its Australian extraction facility. MediPharm Labs Australia was established in 2017.
For further information, please contact:
Laura Lepore, VP, Investor Relations
Telephone: 416-913-7425 ext. 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com
For fact-based information on MediPharm Labs, view the company’s sponsored Investor Dashboard.
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