MediPharm Labs and Argentia Gold to Bring Premium Cannabis-Infused Products to Atlantic Canada
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 and Argentina Gold Corporation (“Argentia Gold”), a Canadian vertically integrated licensed producer, today announced the formation of a supply arrangement to bring premium cannabis-infused products to Atlantic Canada.
Under the agreement, which has an initial 2-year term, MediPharm Labs will provide Argentia Gold-branded formulated tincture bottles of CBD cannabis resin and Argentia Gold will provide distribution, sales, and service to leading retailers in Newfoundland and Labrador, Prince Edward Island, Nova Scotia and New Brunswick.
“We are committed to delivering the highest quality products to our customers throughout Atlantic Canada and doing so in partnership with MediPharm Labs is a virtual guarantee of success,” said Dave Thomson, President of Argentia Gold. “As our white-label supply partner, MediPharm Labs is able to address exactly what we need: reliable, responsive production that meets Good Manufacturing Practice (GMP) standards backed by some of the cannabis industry’s most knowledgeable scientists, pharmaceutical professionals and extraction specialists. Argentia Gold’s destination is market leadership and this agreement is an important milestone in our journey.”
Canadian consumption rates for cannabis are the highest per capita in Atlantic Canada (up to 26.8 percent in Nova Scotia, 25.2 per cent for Newfoundland, 23.2 per cent for Prince Edward Islandi). In comparison, the cannabis consumption rate for Ontario is up to 18.1 per centii.
“Consumers in Atlantic Canada deserve only the very best quality cannabis-infused products and that’s exactly what they will receive as a result of this exciting partnership,” said Pat McCutcheon, CEO of MediPharm Labs. “Argentia Gold is deeply invested in their community, understands the market, knows local preferences and with a trusted portfolio of premium products will no doubt grow into one of Canada’s foremost licensed producers. We are very proud to play a formative role in the next stage of their development.”
Argentia Gold is one of Newfoundland and Labrador’s vertically integrated licensed producers fully authorized to cultivate and process premium cannabis, manufacture and package CBD and THC-infused products such as beverages, medical creams, and beauty items. Its facility, a former U.S. naval base turned industrial park on the deep-water Port of Argentia, encompasses approximately 80,000 square feet on 10 acres of land. With a focus on providing Canadians a top-level experience with cannabis-infused products, Argentia Gold leverages its technology, management team and key government collaboration to deliver a direct-to-retail experience rivaling other companies in the market.
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 with 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, develops (including through sensory testing), 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.
Article Published: BARRIE, Ontario, May 27, 2020 (GLOBE NEWSWIRE) |Source: MediPharm Labs Corp
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