The latest announcement is out from MediPharm Labs ( (TSE:LABS) ).
MediPharm Labs has agreed to sell its Hope Facility in British Columbia to Rubicon Organics for $4.5 million, a move that will bolster its debt-free balance sheet without affecting operations. The sale allows MediPharm to focus on strategic growth and international expansion in the pharmaceutical cannabinoid sector, enhancing its position as a global leader while maximizing shareholder value.
More about MediPharm Labs
MediPharm Labs, founded in 2015, specializes in the development and manufacture of pharmaceutical-quality cannabis concentrates and advanced cannabinoid-based products. The company operates GMP-certified facilities and serves both domestic and international medical markets. In 2021, it became the only North American company with a commercial-scale GMP license for cannabinoid extraction, and in 2023, it expanded its reach through the acquisition of VIVO Cannabis Inc.
YTD Price Performance: 14.29%
Average Trading Volume: 115,380
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $21.57M
See more data about LABS stock on TipRanks’ Stock Analysis page.