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MediPharm Labs ( (TSE:LABS) ) has shared an update.
MediPharm Labs has terminated the proposed sale of its Napanee Facility to Kensana Health due to unmet conditions by the latter, retaining non-refundable deposits as per the agreement. The decision ensures continued operations at the Napanee site, aligning with the company’s strategy to leverage international opportunities and grow its business-to-business services, reinforcing its position in the global cannabis market.
More about MediPharm Labs
MediPharm Labs, founded in 2015, is a specialist in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients, and advanced derivative products. The company utilizes a GMP-certified facility equipped with ISO standard-built clean rooms to ensure delivery of precision-dosed cannabis products to domestic and international medical markets. MediPharm Labs has expanded its reach through acquisitions, such as VIVO Cannabis Inc., allowing access to medical markets in Canada, Australia, and Germany.
YTD Price Performance: 11.90%
Average Trading Volume: 133,417
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $20.24M
Find detailed analytics on LABS stock on TipRanks’ Stock Analysis page.
