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An announcement from MediPharm Labs ( (TSE:LABS) ) is now available.
MediPharm Labs has announced the extension of the closing date for the sale of its Napanee Facility to Kensana Health, a transaction valued at $5.5 million. The sale, which involves the transfer of all equity interests in ABcann Medicinals Inc., is expected to conclude by January 31, 2025, subject to customary conditions and approvals. The ongoing operations at the facility remain uninterrupted, highlighting MediPharm’s strategic move to streamline its operations and focus on its core strengths in cannabis product development. This development may enhance MediPharm’s industry position by allowing it to allocate resources more effectively while also providing Kensana Health, a company with a strong biotechnology foundation, an opportunity to expand its operations.
More about MediPharm Labs
MediPharm Labs, founded in 2015, specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API), and advanced derivative products. Utilizing a GMP-certified facility with ISO standard-built clean rooms, the company caters to domestic and international medical markets through precision-dosed cannabis products. MediPharm Labs is recognized for its significant acquisition of VIVO Cannabis Inc., which expanded its reach in Canada, Australia, and Germany.
YTD Price Performance: 25.00%
Average Trading Volume: 144,067
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $18.81M
For detailed information about LABS stock, go to TipRanks’ Stock Analysis page.
