MediPharm Labs Australia Enters Into New Supply Agreement With VIVO Cannabis and Prepares to Commence Sales

• Large shipment of 35,000 units of formulated finished products and bulk extract completed to MPL Australia to support commencement of sales revenue
  

TORONTO, June 19, 2020 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE:MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced that its subsidiary, MediPharm Labs Australia Pty. Ltd. (“MediPharm Labs Australia”) has entered into an agreement to supply pharmaceutical-quality (GMP certified), formulated cannabis oil products to Beacon Medical Australia Pty. Ltd. (“Beacon Medical Australia”), a subsidiary of VIVO Cannabis Inc. (TSX: VIVO, OTCQX: VVCIF) (“VIVO Cannabis”).

Under the agreement with Beacon Medical Australia, which has an initial one-year term subject to renewal, MediPharm Labs Australia will supply a full range of GMP-certified, formulated CBD and THC cannabis oil products to Beacon Medical Australia for further distribution under its own branding.

“Just weeks after MediPharm Labs Australia was granted GMP Certification, we’re pleased to announce this agreement that underscores the burgeoning demand for our specialized skills and rapid success in converting our opportunity pipeline into tangible, revenue-generating business,” said Warren Everitt, CEO, Asia Pacific, MediPharm Labs. “We are excited to be working with VIVO to bring high quality products to medical consumers across Australia and other emerging markets.”

“VIVO’s international efforts remain focused on the emerging Australian and German markets and we continue to seek out partnerships with organizations that have proven track records,” said Barry Fishman, CEO of VIVO. “For this reason, we are thrilled to be working with MediPharm Labs to leverage their GMP production capabilities to accelerate our Australian market presence. We are confident this will allow us to continue to provide our Australian patients with the medical-grade products they have come to expect from the Beacon Medical brand.”

MediPharm Labs Australia Nearing Commercialization and First Revenues

MediPharm Labs also announced that MediPharm Labs Australia has received a large shipment of 35,000 GMP-units of formulated finished products and a large volume of bulk oil for further manufacturing into finished products, from its Barrie, Ontario facility to meet its burgeoning customer needs within the Australian domestic and export cannabis markets.