 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 by Staff Writers Barrie, Canada (TDN) Oct 10, 2022
MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ), a pharmaceutical company specialized in precision-based cannabinoids, completed the sale of MediPharm Labs Australia Pty ("MediPharm Labs Australia"), a fully owned subsidiary of the Company, for a value of $7.25M AUD ($6.3M CAD) (the "Sale"). The sale was completed with OneLife Botanicals PTY ("OneLife Botanicals") effective October 6, 2022. The Sale, as previously announced on July 11, 2022, includes the assets of MediPharm Labs Australia, specialized licensing, operational knowledge, and Australian and New Zealand customers currently served from that facility. All international contracts outside of Australia and New Zealand will remain with MediPharm Labs Corp. and be serviced from the MediPharm Labs Barrie GMP facility. After an extensive sale process, the Agreement with OneLife Botanicals was identified as a strategic fit for both parties. OneLife Botanicals is an emerging leader in the Australia region for cannabis-based wellness and medical products, with plans to launch OTC CBD products across Australia. Purchasing the MediPharm Labs Australia facility expediates OneLife Botanicals' timing to commercialization. David Pidduck, CEO of MediPharm Labs said. "The sale of the MediPharm Labs Australia assets improves the Company's cash position while also reducing our cash burn. This additional non-dilutive capital allows us to continue our initiative to right-size our company and become profitable through organic and inorganic growth. I want to personally thank our Australian team for their dedication and professionalism through the closing of this sale. I wish them and OneLife Botanicals much success in their future business pursuits." OneLife Botanicals is a niche producer of medicinal cannabis in Melbourne, Australia. The company has a passion for developing and producing products that provide a range of health benefits and assist in treating a range of specific health conditions. The company operates an existing cultivation site with extensive Infrastructure, including fit for purpose glasshouses for growing Medicinal Cannabis in a controlled environment. The glasshouses facilitate the optimum growing environment through temperature and climate control, allowing natural sunlight to be maximized in a protected and secure environment. The Directors and stakeholders are focused on identifying and exploring market opportunities, along with embracing innovation in the production processes. The success of the business is able to be achieved with an extensive Research and Development program, aimed at staying ahead of changes in growing methods, technological solutions, and product applications, along with advanced automation ensuring that we minimize operating expenditure and maximise quality control. The organisation is committed to make the health benefits of this natural and powerful plant available to everyone seeking to improve their One Life.
High precision check weigher receives NTEP Certification Las Vegas NV (TDN) Oct 05, 2022 Canapa by Paxiom is proud to announce that its Pre-CheQ Analyzer from WeighPack Systems has been awarded the NTEP Certificate of Conformance from the National Conference on Weights and Measures. After rigorous, repetitive testing of the Pre-CheQ and its electro-magnetic force restoration (EMFR) weigh cell technology, the NCWM issued this prestigious certificate within their Accuracy Class II, used for laboratory weighing of products ranging from cannabis to precious metals. Engineered to acc ... read more 
| |||||||||||
