How Medipharm Labs Corp (OTCMKTS:MLCPF) Just Took Over the Party in Cannabis

How Medipharm Labs Corp (OTCMKTS:MLCPF) Just Took Over the Party in Cannabis

SHARE

The latest Canadian cannabis patch play to come jumping onto the scene with wild applause has to be Medipharm Labs Corp (OTCMKTS:MLCPF). Shares of the stock have exploded higher, ramping as much as 50% in the past month, with most of that coming in the past two weeks.

To further flesh out the story, the company just announced that its wholly owned subsidiary, MediPharm Labs Inc., has entered into purchase agreements with multiple cultivators, successfully acquiring over 5,000 KG of dried cannabis supply in the last two weeks of March 2019. According to the release, in addition to MediPharm’s ongoing monthly procurement strategy, this large volume purchase of dried cannabis supply strategically positions the Company to significantly increase sales of cannabis concentrates.

Medipharm Labs Corp (OTCMKTS:MLCPF) bills itself as a company that primarily focuses on producing pharma-grade cannabis oil and concentrates in Canada. It also focuses on providing cannabis contract processing services to licensed producers and growers; supplying cannabis oil to companies for sale under its brand; and supplying raw materials and processing for the creation of ready-to-sell cannabis products. The company was founded in 2015 and is headquartered in Barrie, Canada.

Founded in 2015, MediPharm Labs has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license.

This expert focus on cannabis concentrates from our cGMP (current Good Manufacturing Practices) and ISO standard clean rooms and critical environments laboratory, allows MediPharm Labs to produce purified, pharmaceutical-grade cannabis oil and concentrates for advanced derivative products. MediPharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream extraction methodologies and purpose-built facilities to deliver pure, safe and precisely-dosed cannabis products to patients and consumers. MediPharm Labs’ private label program is a high margin business for the company, whereby it opportunistically procures dry cannabis flower and trim from its numerous product supply partners, to produce proprietary cannabis oil concentrate products for resale globally on a private label basis.

Through its subsidiary, MediPharm Labs Australia Pty. Ltd., MediPharm Labs has also completed its application process with the federal Office of Drug Control to extract and import medical cannabis products in Australia.

Find out when $MLCPF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, MLCPF just announced that its wholly owned subsidiary, MediPharm Labs Inc., has entered into purchase agreements with multiple cultivators, successfully acquiring over 5,000 KG of dried cannabis supply in the last two weeks of March 2019.

Traders will note 47% added to share values of the listing over the past month of action. In addition, the listing has benefitted from a jump in recent trading volume to the tune of greater than 350% beyond its prior sustained average level.

“With our extensive network of cultivation partnerships, we continue to secure and purchase increasing volumes of additional dried cannabis supply to further boost our sizeable inventory of high-quality pharma-grade cannabis oil,” said Patrick McCutcheon, Chief Executive Officer of MediPharm Labs. “As extraction specialists, we are diligently executing on ramping up operations ahead of the legalization of concentrates-based vapeables, topicals and edibles this fall, and for our upcoming EU GMP certification, that we expect will significantly increase the size of our addressable market. We continue to aggressively build our inventory to enhance sustainable, uninterrupted high-margin private-label production and maintain our leadership position in the global cannabis industry value chain.”

At this time, carrying a capital value in the market of $444.36M, MLCPF has nearly $5.9M in cash on the books, which must be weighed relative about $11.1M in total current liabilities. The company pulled in $10.2M in 2018. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $MLCPF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $MLCPF, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter