BIOTECH
Medipharm Labs Corporation (OTCMKTS:MEDIF) Signs Distribution Supply Agreement With Societe Quebecois Du Cannabis
Medipharm Labs Corporation (OTCMKTS:MEDIF) has announced that MediPharm Labs and Societe Quebecois Du Cannabis (SQDC) have signed a distribution supply agreement for the supply of cannabis products in the province.
MediPharm signs 7th provincial supply agreement
The provincial agreement Is the 7th such agreement for the company, which will supply the growing medical and wellness market for cannabis-based concentrate products in the province. MediPharm Labs will supply products from its growing proprietary and high-demand formulations portfolio, most of which are currently available to adult-use consumers and medical patients in six other provinces.
Keith Strachan, the company’s interim CEO and President said that as the company continues to expand across the globe rapidly, they are delighted to continue driving growth in Canada through distribution platform expansion and enhancing its presence in Quebec. Currently, Quebec is among the largest consumer markets in Canada, and Strachan said that the province marks the seventh province the company has signed a distribution agreement. He added that with MediPharm’s expanded footprint, the company is now bringing its quality products to 95% of the country’s retail market.
MediPharm Labs expanding to Quebec
Most importantly, MediPharm Labs’ cannabis concentrates products will be available for adult use market sale in the province through SQDC retail outlets and e-commerce platforms. Notably, the company will determine supply quantities based on demand monthly. Besides Quebec, MediPharm Labs also supplies its private and white-label cannabis products in Ontario, Nova Scotia, British Columbia, Saskatchewan, Manitoba, and Nova Scotia more provinces likely to be added this year.
Through its white label and wholesale platforms, the company formulates, processes, tests, packages, and distributes cannabis concentrates and CBD-based products to international and domestic markets. With the latest expansion to Quebec, its distribution footprint now represents coverage of more than 95% of the retail cannabis market in Canada. The company has completed exports to Australia, where it has established a fully-commercialized cannabis extraction facility. Recently the company announced an expansion to its innovative products with the introduction of CBD24:5 Release Formula.
