How about this release by LABS.v
They can sell anything from paper to gold to whatever, but it must make money. Crypto and Weed have yet to prove this and so I am still a skeptic Medipharm Labs signs 3 cannabis oil sales agreements
2019-01-16 13:38 ET - News Release
Mr. Patrick McCutcheon reports
MEDIPHARM LABS SIGNS NEW CANNABIS OIL AGREEMENTS AND COMPLETES FIRST SHIPMENTS OF SUPPLY IN DECEMBER
Medipharm Labs Corp. has signed three cannabis oil sales agreements, subsequent to the company's receipt of its sales licence from Health Canada on Nov. 9, 2018. The first large shipments of cannabis oil supply left the company's dock in December, 2018, and were aggregately valued at over $10-million.
"As a pioneer in the cannabis industry, Medipharm Labs has emerged as the clear leader in the extraction-only category, highlighted by our first month of sales agreements of white-label high-quality purified cannabis oil concentrates," said Patrick McCutcheon, chairman, president and chief executive officer of Medipharm Labs. "This milestone further validates the strength of our differentiated model as a complement and partner to vertically integrated licensed producers while also demonstrating the potential for Medipharm to rank alongside the top revenue-generating cannabis companies in the industry.
"Looking ahead to 2019, we continue to build on our momentum as Medipharm is increasingly being recognized as the supplier of choice for high-quality purified cannabis oil as well as for toll processing, particularly among mid-to-large-sized vertically integrated licensed producers, and we see a clear path for continued and sustainable growth in 2019 and beyond. We look forward to further accelerating growth through the multitude of substantial contracts already in place and robust pipeline of new opportunities, which will be further enhanced in the near future upon receiving full cGMP [current good manufacturing practices] producer certification and opening up additional international opportunities."
Medipharm Labs' strong momentum has continued into 2019 with several significant accomplishments to support its continued growth as the leader in specialized, research-driven cannabis extraction business designed for large-scale commercial production. Highlights include:
- Processed and sold large quantities of cannabis oil inventory under its white-label program; has since acquired large volume of dried cannabis to ensure uninterrupted supply of oil for existing and new customers; deep industry relationships and pro-active supply chain management have secured over 1,600 kilograms of cannabis flower and trim over a three-week period from seven different licensed producers; the company has now made supply purchases from 13 licensed producers and is continuing to procure additional supply to meet strong demand;
- Executed multiple long-term tolling agreements with six licensed producers under cannabis concentrates program, under which it has received large quantities of dried cannabis for processing; in addition to the current arrangements in place, the company has a robust pipeline of new opportunities which are under evaluation and/or negotiation;
- Initial extraction capacity of 100,000 kilograms of dried cannabis was increased by 50 per cent to an industry-leading capacity of 150,000 kilograms as approved by Health Canada on Dec. 24, 2018 (this total capacity equates to 29.1 million vape pen cartridges equivalent); continued expansion plans are under way to support growing demand for cannabis oils, the fastest-growing segment of the cannabis industry.
About Medipharm Labs Corp.
Founded in 2015, Medipharm Labs 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. Medipharm Labs is research-driven and focused on downstream secondary extraction methodology, distillation, and cannabinoid isolation and purification. Medipharm Labs provides business-to-business (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 brands.
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.
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