MediPharm Labs Corp. (TSXV: LABS) announced this morning that the company has began trading the common shares of its stock on the TSX Venture Exchange under the ticker symbol LABS.
The company focuses on the extraction and manufacturing of pharmaceutical grade cannabinoid-based oils under the Access to Cannabis for Medical Purposes Regulations (ACMPR) in Canada. MediPharm specializing in a number of different extraction methods including distillation and cannabinoid isolation under GMP (Good Manufacturing Practices) certification.
The MediPharm team are also experts in the creation of proprietary methods of extraction to produce purified cannabis concentrates. The company owns a laboratory capable of extracting 100,000kg of dry cannabis a year which is one of the largest operations of its kind in Canada. With the completion of expansion of the company’s facility it is expected that MediPharm will be capable of handling 250,000kg by Q2 2019.
The company’s common shares have started trading at .25 per share with a market cap of $12.86 million.
“Our public listing marks a tremendous milestone for MediPharm Labs and will allow us to further enhance our position as an industry leader in the production and supply of pharmaceutical grade extracted cannabis products in Canada and globally, backed by our diverse team of highly sophisticated and accomplished professionals,” stated Patrick McCutcheon, Chief Executive Officer of the Company.