BARRIE, Ontario, Oct. 25, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a international leader in specialized, investigation-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce that its co-founders, Pat McCutcheon (Chairman & CEO) and Keith Strachan (Director & President), had been named as finalists in the EY Ontario Entrepreneur of the Year Award in the Well being & Life Sciences category. Finalists and winners had been announced on October 24, 2019 in Toronto at the annual awards gala.
The EY Entrepreneur of The Year® recognizes the endeavors of exceptional folks who make the items and solutions that retain neighborhood and international economies moving forward. Because its inception, Entrepreneur of The Year has grown and now consists of applications in a lot more than 145 cities and a lot more than 60 nations worldwide.
I am deeply honoured and humbled to have been named a finalist of this globally recognized award. We started this enterprise with a vision to transform the planet by harnessing the energy of cannabis. I am grateful for all who trusted and believed in us along the way, specifically our relentless and really hard-functioning workers, our loyal investors and unwavering pals and family members.
Pat McCutcheon, Chairman and Chief Executive Officer of MediPharm Labs
The immense possibilities that are nevertheless to come in this quickly evolving market tends to make the future of cannabis incredibly vibrant. We are all excited for what is also nevertheless to come for MediPharm Labs right here in Canada and across the globe.
“It’s been a record-paced year considering the fact that recreational cannabis was legalized and we commenced sales in this new ground-breaking market. We’ve come a lengthy way via numerous hurdles. We remained steadfast in our vision, believing in ourselves and in our dream of constructing the ideal cannabis enterprise in the planet,” says Keith Strachan, Director and President of MediPharm Labs.
Becoming recognized and named as a finalist for the prestigious Entrepreneur of the Year award is an honour and unbelievable validation of the final 4 years. I’m hunting forward to what the future holds for MediPharm Labs, we are just having began.
Keith Strachan, Director and President of MediPharm Labs
MediPharm Labs: Our Exceptional Story, Expanding A Distinct Cannabis Firm
4 years ago, as the Canadian cannabis market ramped up with the development and domination of vertically integrated cultivators, MediPharm Labs’ co-founders, Pat McCutcheon and Keith Strachan, saw an chance to be diverse. They identified a segment of the cannabis worth chain they could concentrate on to establish a lucrative organization by specializing in the greater development region of extraction and pioneering a particular niche. They set a precedent with Well being Canada’s application approach, getting the 1st to ever apply for a cannabis oil production license without the need of 1st possessing a cultivation license.
Even though waiting for the final stages of licensing to be completed for the duration of a rigorous two-year approach, the two entrepreneurs staffed the facility, created internal protocols, modified gear, formed partnerships, amassed dried cannabis inventory and created extracted resin proving their readiness to provide their 1st sales upon getting their B2B sales license on November 9, 2018. They strived to keep their independence, accepting no equity ownership from other licensed producers, assuring their capacity to operate with every person in the market as a trusted, autonomous supplier. With cannabis licence #95 from Well being Canada in hand, MediPharm Labs immediately vaulted to rank amongst the leading five cannabis-income-generators in Canada.
To retain pace with transform in the market, Pat and Keith, via their leadership, produced a culture of innovation. They invested in a very skilled group of experts, numerous from the bio-pharmaceutical Business. They also aligned with outdoors consultants and suppliers to optimize operations, gear and methodologies and established a Science Advisory Committee with internationally esteemed scientists, researchers and health-related experts, who collaborate with MediPharm Labs on advancements in the emerging fields of cannabinoid extraction and cannabinoid-primarily based derivative science.
Searching forward, MediPharm Labs has invested in R&D and strategic alliances to realize its longer-term target of becoming Active Pharmaceutical Ingredient provider for cannabis medicines upon completion of clinical investigation trials. MediPharm Labs has set its sights on new jurisdictions that have currently authorized health-related cannabis use, actively searching for import/export possibilities, though also constructing their Australian subsidiary facility anticipated to be operational in early 2020.
MediPharm Labs was previously awarded Begin-Up of the Year 2018 at the Canadian Cannabis Awards and its Australian subsidiary was the Innovation Award winner of the Australian Cannabis Business Awards in 2019.
About Pat McCutcheon – Chairman and Chief Executive Officer
Just before founding MediPharm Labs, Pat enjoyed a 15-year profession in the pharmaceutical market in leading sales roles, effectively launching a wide variety of health-related items. He most not too long ago worked at Janssen Pharmaceuticals (Johnson & Johnson) exactly where he led the Hospital Division for Renal and Mental Well being items. Pat brings this pharmaceutical point of view to MediPharm Labs, investing type the outset in pharma requirements such as ISO rated clean rooms and crucial environments and possessing our facility constructed and operating to European Fantastic Manufacturing Practices. Pat’s foresight in producing a organization that focuses on sophisticated cannabis concentrates bodes nicely for health-related investigation, investors and buyers alike. Pat holds an HBSc (Biology) degree from the University of Western Ontario.
About Keith Strachan – Director and President
Keith Strachan co-founded MediPharm Labs in 2015, using his consultancy knowledge in Public Sector RFP and government contracts, compliance for government licensing and neighborhood organizing, to break the mould and safe the 1st Well being Canada Licence for cannabis oil production without the need of 1st getting a cultivator. A seasoned entrepreneur, Keith has applied his leadership to constructing out MediPharm Labs’ major-edge facilities, launching operations and increasing its workforce, though also strategically driving organization improvement with the Company’s numerous provide, contract processing and white label companion LPs.
About EY Entrepreneur of the Year®
EY Entrepreneur of The Year® is the world’s most prestigious organization awards system for entrepreneurs. The system tends to make a distinction via the way it encourages entrepreneurial activity amongst these with possible and recognizes the contribution of folks who inspire other people with their vision, leadership and achievement. As the 1st and only genuinely international awards system of its sort, Entrepreneur Of The Year® celebrates these who are constructing and major thriving, increasing and dynamic companies, recognizing them via regional, national and international awards applications in a lot more than 145 cities in a lot more than 60 nations. ey.com/eoy
About MediPharm Labs Corp.
Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-grade cannabis oil and concentrates and sophisticated derivative items using cGMP (existing Fantastic Manufacturing Practices) developed facility and ISO regular constructed clean rooms. MediPharm Labs has invested in an professional, investigation-driven group, state-of-the-art technologies, downstream purification methodologies and objective-constructed facilities with five major extraction lines possessing 300,000 KG of annual processing capacity to provide pure, protected and precisely-dosed cannabis items for its consumers. By way of the Company’s wholesale, private and white label platform, MediPharm Labs formulates, processes, packages and distributes active pharmaceutical components and sophisticated cannabinoid-primarily based items to domestic and international markets. As a international leader, MediPharm Labs has completed industrial exports to Australia and is nearing completion of its Australian extraction facility anticipated in 2019 with 75,000 KG of annual processing capacity.
For additional information and facts, please make contact with:
Laura Lepore, VP, Investor Relations
Phone: 705-719-7425 ext 216
E mail: [email protected]
Original press release