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MediPharm Labs Enters Growing Latin American Medical Cannabis Market; Enters Supply Agreement With Cann Farm Peru

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BARRIE, Ontario, Sept. 03, 2020 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, today announced its wholly owned subsidiary MediPharm Labs Inc. will supply premium, formulated cannabis oil to Cann Farm Peru S.A.C., a Lima-based producer and distributor serving Peruvian and other markets in Latin America.

This is MediPharm Labs first such agreement in Latin America and the most recent example of the Company’s international growth strategy in action. As part of this strategy, the Company has expanded its addressable medical, wellness and adult-use markets to parts of Asia Pacific, Europe and now Latin America.

MediPharm Labs is creating footholds in medical, wellness and adult-use markets around the world and in Latin American countries. With a combined population of approximately 580 million – and beginning with its fifth largest country Peru – Latin America factors highly in the Company’s business plan. As an early mover among Latin American countries, Peru has created a legal framework for producing, importing and selling cannabis for medical use. As a result, Peru’s market is advancing rapidly and offers the potential to register varied formats of cannabis based products. Using a range of pricing, consumption and patient datasets, the LATAM Cannabis Report™ by Prohibition Partners(1) forecasts that the LATAM market is expected to exceed US$12 billion by 2028, offering “serious growth potential to global cannabis companies.”

“Peru is one of the top medical cannabis markets in the world and Cann Farm is one of very few cannabis companies which hold both a Droguería licence and cannabis importation licence which makes this agreement of outstanding strategic value to MediPharm Labs,” said Pat McCutcheon, CEO, MediPharm Labs. “As we pursue our global ambitions, it is vital for us to partner with companies of Cann Farm’s calibre who know their local markets intimately, have a real appreciation for the needs of patients, an ongoing commitment to scientific advancement and a sound plan for regional expansion. We expect great things from this collaboration.”

Under the one-year renewable agreement, MediPharm Labs Inc. will provide a variety of cannabis concentrate formats, with optionality for patient ready formulated products. The products will be distributed to patients through pharmacies in Peru. Cann Farm will in turn obtain all Peruvian registrations, authorizations and approvals required for importation. In the future, Cann Farm may look to MediPharm Labs for further support in commercialization activities. MediPharm Labs anticipates delivery to begin in Q4 2020, pending regulatory approval by applicable health authorities.

“Cann Farm was created from our deep commitment to patients, who demand reliable, consistent high quality, and proven product integrity; therefore we choose our partners very carefully,” said Andres Vazquez Vargas, Executive President, Cann Farm Peru. “What impresses us most about MediPharm Labs is their focus on medical markets and their commitment to our production standards, as is seen with their GMP certification, which is the gold standard in pharma production. It’s rare to see GMP certification in the cannabis supply chain because it’s a complex and rigorous process to earn the qualification. This tells us all we need to know about their ability to meet our needs on not only a continuous, but consistent basis.” 

About Peru’s Market

Peru adopted Law 30681 in October 2017 with the objective of allowing access to medical cannabis. Peru’s medical cannabis market thus far is 100% dependent on imports. The law explicitly allows domestic production, importation and commercialization of cannabis for medical and scientific purposes and mandates the creation of a series of registries within its Ministry of Health. Only certified pharmaceutical laboratories can apply for a production license domestically and retail sales occur only in licensed pharmacies. However, as of mid-2020, no production license has been granted.(2) Physician prescriptions are required and multiple medical conditions can be prescribed cannabis.

About Cann Farm Peru S.A.C.

Cann Farm is dedicated to cultivating and processing medicinal plants under the highest quality standards and developing from them a broad portfolio of innovative products for the health and well-being of the international community. In addition to the importation and marketing of products derived from cannabis and other plants for medicinal use and cultivation and processing of medicinal plants, both for the Peruvian market and for export, Cann Farm invests in scientific research projects in topics related to the application of medicinal plants for health, as well as in agronomic issues aimed at optimizing their production.

About MediPharm Labs

Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical-quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets. As a global leader, MediPharm Labs has completed commercial exports to Australia and has fully commercialized its Australian extraction facility. MediPharm Labs Australia was established in 2017.

  1. https://prohibitionpartners.com/wp-content/uploads/2019/07/The-LATAM-Cannabis-Report%E2%84%A2.pdf
  2. https://mjbizdaily.com/wp-content/uploads/2020/08/latin-america-2020_FINAL.pdf

For further information, please contact:
Laura Lepore, VP, Investor Relations and Communications
Telephone: 416-913-7425 ext. 1525
Email: investors@medipharmlabs.com
Website: www.medipharmlabs.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the successful performance of the agreement and shipping of products thereunder as planned; forecasts regarding the growth of the Peruvian market; and providing further support and commercialization for Cann Farm in the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs’ filings, available on the SEDAR website at www.sedar.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

All information contained in this press release with respect to Cann Farm was supplied by Cann Farm for inclusion herein.

Cannabis

Red Light Holland Reaches Distribution Agreement for iMicrodose Packs Plus Agrees to Build out an iMicrodose Media Information Centre (iMIC) with Super Smart’s Location in Tiel, The Netherlands

Newsfile

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Toronto, Ontario–(Newsfile Corp. – September 28, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (“Red Light Holland” or the “Company“), an Ontario-based corporation positioning itself to engage in the production, growth and sale of its brand of magic truffles to the legal, recreational market within the Netherlands, is pleased to announce their iMicrodose Packs (“iMicrodose Packs“) powered by Red Light Holland are expected to be available early October 2020 in PharmaDrug Inc.’s (“PharmaDrug”) wholly-owned subsidiary Interrobang Ltd.’s (doing business as Super Smart) (“Super Smart“) store in Tiel, The Netherlands, as Red Light Holland has reached a distribution agreement with Super Smart.

Red Light Holland has also reached an agreement with Super Smart to build and set up an iMicrodose Media Information Centre (“iMIC“) in Super Smart’s Tiel location, expected to be ready before the end of 2020.

“Super Smart’s vision and iMicrodose’s vision truly align,” said Todd Shapiro, CEO and Director of Red Light Holland. “Both companies are focused on educating, informing and modernizing the psychedelic industry within the Netherlands. We are very excited to soon have another store where our product is sold to expand our exposure and marketplace. Equally as important, we are proud to set up our first iMicrodose Media Information Centre – iMIC – where we plan on eventually providing Super Smart with our Virtual Reality Headset where consumers can truly learn about our iMicrodose packs and the origins of the product, as well as hope to receive important customer feedback, as we want to give all consumers a voice for important information gathering and responsible-use feedback via our planned iMIC activation.”

“Red Light Holland has definitely already taken initial steps to modernize the industry, in the Netherlands, and we are so pleased to reach an agreement to house their responsible use product in our Tiel, Location, expected in Early October, 2020,” added Dan Cohen, CEO of PharmaDrug. “Together we want to elevate the industry, educate consumers and intelligently target all Adult Demographics for potential increased sales via new customers with an informational, technological and modern approach.”

Super Smart’s Tiel location is located in Central Netherlands and is the only smart shop within a 75 kilometre radius. iMicrodose Packs powered by Red Light Holland are expected to be in Smart Shop’s Tiel store in October, 2020.

Cannot view this image? Visit: https://i0.wp.com/grassnews.net/wp-content/uploads/2020/09/red-light-holland-reaches-distribution-agreement-for-imicrodose-packs-plus-agrees-to-build-out-an-imicrodose-media-information-centre-imic-with-super-smarts-location-in-tiel-the-netherlands.jpg?w=740&ssl=1

iMicrodose Packs powered by Red Light Holland

To view an enhanced version of this image, please visit:
https://orders.newsfilecorp.com/files/2017/64718_a8f225a094f53bdb_001full.jpg

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

About PharmaDrug Inc.

PharmaDrug Inc., is building an international controlled substance and natural medicine company with a focus on Europe. PharmaDrug Inc., owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.

For further information, please contact:
Daniel Cohen, Chairman and CEO

dcohen@pharmadrug.co
(647) 202-1824

Forward-Looking Statements

Neither the Canadian Securities Exchange (the “CSE”) nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward- looking statements contained herein include, but are not limited to, anticipated timeline with respect to iMicrodose products being available in Super Smart’s Store in Tiel and Red Light Holland and the anticipated timeline of the build out of the iMic, and Red Light’s plans to offer Virtual Reality Headset. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward- looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. In particular, there is no guarantee that iMicrodose products will be in Super Smart’s Tiel Location by October, 2020, nor are their guarantees that their Media Information Centre will be activated before the end of 2020. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64718

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MariMed Announces Participation at Canaccord Genuity’s US Cannabis Symposium on September 30, 2020

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NORWOOD, Mass., Sept. 28, 2020 (GLOBE NEWSWIRE) — MariMed Inc. (MRMD:OTCQX) (the “Company” or “MariMed”), a leading multi-state cannabis and hemp operator focused on health and wellness, today announced that the Company’s CEO, Bob Fireman, and CFO, John Levine, will present at Canaccord Genuity’s US Cannabis Symposium on Wednesday, September 30, 2020 at 10:30 a.m. ET on Track 1.

Additionally, MariMed’s management will participate in investor meetings during the conference to discuss the Company’s consolidation strategy and growth trajectory. Investors interested in meeting with management should contact Canaccord representative Nadine Miller at nmiller@cgf.com.

Bob Fireman, Chief Executive Officer of MariMed, said, “MariMed’s growth is accelerating, as we continue to expand our adult-use consumer market share throughout the U.S. and launch innovative new products across our growing number of retail locations. We look forward to sharing some of the reasons behind our increased cannabis revenues and other recent accomplishments, at this leading industry event hosted by Canaccord.”

This one-day event will feature senior management teams representing every facet of the U.S. cannabis industry; including multi-state operators, technology providers, brand owners, hemp producers, oil extractors and ancillary products businesses.

To be added to the email distribution list, please email MRMD@kcsa.com with “MRMD” in the subject.

About MariMed:
MariMed Inc., a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The Company develops, owns, and manages seed to sale state-licensed cannabis facilities, which are models of excellence in horticultural principles, cannabis cultivation, cannabis-infused products, and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the Company and its managed business units. The Company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry-leading products and brands, including “Betty’s Eddies™”, “Nature’s Heritage™”, “Bourne Baking Co.”, and “Kalm Fusion”. These precision dosed products are focused on specific symptoms and conditions and are licensed and distributed across the country.

For additional information, visit marimedinc.com.

Important Caution Regarding Forward-Looking Statements:
This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events, including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.

All trademarks and service marks are the property of their respective owners.

Company Contact
Jon Levine, CFO
MariMed Inc.
Tel (781) 559-8713

Media Contact
Abigail Diehl
MariMed Inc.
adiehl@marimedinc.com

Annie Graf
KCSA Strategic Communications
agraf@kcsa.com

Investors
KCSA Strategic Communications
Scott Eckstein / Elizabeth Barker
MRMD@kcsa.com

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Cannabis

PharmaDrug’s Super Smart Reaches Distribution Agreement with Red Light Holland for iMicrodose Packs and for Red Light Holland to Build out an iMicrodose Media Information Centre (iMIC) with Super Smart’s Location in Tiel, The Netherlands

Newsfile

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Toronto, Ontario–(Newsfile Corp. – September 28, 2020) –  PharmaDrug Inc. (CSE: BUZZ) (OTC PINK: LMLLF) (“PharmaDrug” or the “Company“) is pleased to announce that its wholly-owned subsidiary Interrobang Ltd. (doing business as Super Smart) (“Super Smart“) has reached a distribution agreement with Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (OTC:TRUFF) (Red Light Holland”) for Red Light Holland’s iMicrodose Packs (“iMicrodose Packs“). The iMicrodose Packs are expected to be available in Super Smart’s first Slim Winkel store, located in Tiel, in early October 2020.

Red Light Holland has also definitively agreed to build and set up an iMicrodose Media Information Centre (“iMIC”) in Super Smart’s Tiel location, expected to be ready before the end of 2020.

“Super Smart’s vision and iMicrodose’s vision truly align.” Said Todd Shapiro, CEO and Director of Red Light Holland. “Both Companies are focused on educating, informing and modernizing the psychedelic industry within the Netherlands. We are very excited to soon have another Store where our product is sold to expand our marketplace. Equally as important, we are proud to set up our first iMicrodose Media Information Centre – iMIC – where we will eventually provide Super Smart with our Virtual Reality Headset where consumers can truly learn about our iMicrodose packs and the origins of the product, as well as receive important customer feedback, as we want to give all consumer’s a voice for important information gathering and responsible use feedback via our iMIC activation.”

“Red Light Holland has definitely already taken initial steps to modernize the industry in the Netherlands and we are so pleased to house their responsible use product in our Tiel location, expected in early October 2020.” Added Daniel Cohen, CEO and Chairman of PharmaDrug. “Together we want to elevate the industry, educate consumers and intelligently target all Adult Demographics for potential increased sales via new customers with an informational, technological and modern approach.” 

Super Smart’s Tiel location is located in Central Netherlands and is the only smart shop within a 75 Kilometre radius. iMicrodose Packs powered by Red Light Holland are expected to be in Super Smart’s Tiel store in October 2020.

Cannot view this image? Visit: https://i2.wp.com/grassnews.net/wp-content/uploads/2020/09/pharmadrugs-super-smart-reaches-distribution-agreement-with-red-light-holland-for-imicrodose-packs-and-for-red-light-holland-to-build-out-an-imicrodose-media-information-centre-imic-with-super-smar.jpg?w=740&ssl=1

Pictured: iMicrodose Packs powered by Red Light Holland

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6479/64728_520c24e9846129e7_001full.jpg

About Red Light Holland Corp.

The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal, recreational market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.

For additional information on the Company:

Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: todd@redlighttruffles.com
Website: https://redlighttruffles.com/

About PharmaDrug Inc.

PharmaDrug Inc. is building an international controlled substance and natural medicine company with a focus on Europe. The Company owns 80% of Pharmadrug GmbH, a German medical cannabis distributor, with a Schedule I European Union narcotics license allowing for the importation and distribution of medical cannabis to pharmacies in Germany and throughout the EU. The Company also owns 100% of Super Smart, an early-stage retail company focused on consolidating the fragmented Dutch smartshop market. Smartshops are retail establishments in The Netherlands that specialize in the sale of psychoactive substances including psychedelic truffles.

For further information, please contact:

Daniel Cohen, Chairman and CEO
dcohen@pharmadrug.co
(647) 202-1824

Caution Regarding Forward-Looking Information:

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results of the Company. Forward looking statements in this press release relate to the integration of the Smart Shop business, anticipated volume growth in the Company’s German business and the introduction by the Company of its own brand of medical cannabis. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances. The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein, such as, but not limited to dependence on obtaining regulatory approvals; the ability to locate additional supply of medical cannabis, owning interests in companies or projects that are engaged in activities currently considered illegal under United States federal law; changes in laws; limited operating history, reliance on management, requirements for additional financing, competition, hindering market growth; regulatory and political change. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64728

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