MediPharm Labs Corp (OTCMKTS:MEDIF) has announced the signing of a strategic multifaceted manufacturing deal with Avicanna Inv. (OTCMKTS:AVCNF) that involves international and domestic distribution, licensed production as well as intellectual property licensing,
MediPharm signs three-year agreement
Aviccana is a company that focuses on developing, manufacturing, and marketing of sustainable plant-derived and organic CBD-based products. According to the agreement which will run for three years, MediPharm will use its contract manufacturing abilities at its Ultra-modern production facility in Canada to produce Avicanna’s Rho Phyto cannabis products as well as Pure Earth topicals for commercialization via Medical Cannabis by Shoppers.
Equally, Avicanna will give MediPhram a license to use its proprietary formulation to develop white label proprietary products for both the domestic and international markets. MediPharm is experienced in the development of products and will employ its in-house processing, testing, and packaging expertise to produce finished products from the formulations.
Avicanna CEO Ara Azadian said that this partnership is one of the best combining experience in pre-clinical R&D and intellectual property with the unparalleled quality and manufacturing capability of MediPharm. The collaboration will offer advanced products to patients and the medical community that are backed by data, scientific rigor, and quality standards in the industry.
MediPharm to file Q1 results before June 29
MediPharm has also indicated that it will file its Q1 2002 financial statements as well as management analysis and discussions by June 29. Following the coronavirus pandemic, the securities regulatory authorities in Canada have given companies an extra 45 days to finalize regulatory filings. MediPharm usually reports Q1 results by May 15, but considering the COVI-19 disruption, the company is capitalizing on the exemption.
Since its last financial reports, the filing of the Q1 results continues to be pending the company has offered updates regarding the coronavirus pandemic and corporate developments. Pat McCutcheon, the CEO of the company, indicated that despite the pandemic affecting the industry, the company has been positioning itself in the market with advanced capabilities for new formulations, products, and GMP certification.
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