MediPharm Labs Sets Date to Announce Third Quarter 2019 Financial Results
October 03 2019 - 7:49AM
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ)
(“MediPharm Labs” or the “Company”) a global leader in specialized,
research-driven cannabis extraction, distillation, purification and
cannabinoid isolation, is pleased to announce it will release its
third quarter financial results for the three and nine months ended
September 30, 2019 before markets open on Tuesday, November 12,
2019, in advance of the Company’s TSX issuer reporting deadline.
“Our strong and profitable performance in first
half of 2019 has positioned MediPharm Labs well to execute on our
existing long-term contracts and continue building on our positive
operational momentum as a top tier Canadian licence holder,” said
Pat McCutcheon, Chief Executive Officer, MediPharm Labs. “Following
our successful capital raise during the second quarter that added
gross proceeds of over $70 million, we continue to make excellent
progress deploying capital towards strategic value creation
initiatives including the expansion of our state of the art
commercial scale extraction facility in Barrie, Ontario,
accelerating the completion of our new extraction-only facility in
Australia, and achieving EU GMP certification to support domestic
and international growth.”
The Company will also host a conference call and
audio webcast on Tuesday, November 12, 2019 at 8:30 a.m. eastern
time to discuss its results and outlook.
Conference Call
Information:
Toll-free number: 877-791-0216 / International
number: 647-689-5661/ Conference ID: 6389604Participants are asked
to dial in approximately 10 minutes before the start of the
call.
Audio Webcast:An audio webcast
will be available in the Events section of the MediPharm Labs’
Investor Relations website https://ir.medipharmlabs.com/news-events
or by visiting the following
link:https://event.on24.com/wcc/r/2062118/A8D0ABD43D6943B4507A4521F109875F
For those who are unable to participate on the
live conference call and webcast, a replay will be available
approximately one hour after completion of the call.
Replay Information:
Replay number: 800-585-8367 / International
replay number: 416-621-4642/ Conference ID: 6389604
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in
the production of purified, pharmaceutical-grade cannabis oil and
concentrates and advanced derivative products utilizing cGMP
(current Good Manufacturing Practices) designed 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 5 primary extraction lines having 300,000 KG of annual
processing capacity to deliver pure, safe and precisely-dosed
cannabis products for its customers. Through the Company’s
wholesale, private and white label platform, MediPharm Labs
formulates, processes, packages and distributes active
pharmaceutical ingredients and advanced cannabinoid-based products
to domestic and international markets. As a global leader,
MediPharm Labs’ completed its first commercial export to Australia
in June 2019 and is nearing completion of its Australian extraction
facility expected in 2019 with 75,000 KG of annual processing
capacity.
For further information, please
contact: Laura Lepore, VP, Investor
Relations Telephone: 705-719-7425 ext 216 Email:
investors@medipharmlabs.com Website:
www.medipharmlabs.com
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
to, among other things, building positive operational momentum,
strategic value creation initiatives, expansion of the Barrie
facility, achieving EU GMP certification to support domestic and
international growth, accelerating the completion of the Australian
facility and the processing capacity of the Australian facility.
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; the inability of MediPharm Labs to obtain
adequate financing; the delay or failure to receive regulatory
approvals; and other factors discussed in MediPharm Labs’ filings,
available on the SEDAR website at www.sedar.com. 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, MediPharm Labs assumes no obligation to update the
forward-looking statements of beliefs, opinions, projections, or
other factors, should they change.
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