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MediPharm Labs Corp. (MEDIF)

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Specialize in cannabis extraction...

https://twitter.com/MediPharmLabs                    https://www.medipharmlabs.com/

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reprinted here:



MediPharm Labs Reports Q4 2018 Revenue of $10.2 Million and Adjusted EBITDA of $2.1 Million

TORONTO, April 03, 2019 (GLOBE NEWSWIRE) — MediPharm Labs Corp. (TSXV: LABS) (OTCQB: MLCPF) (FSE: MLZ) (“MediPharm Labs” or the “Company”) a global leader in specialized, research-driven cannabis extraction, distillation, purification and cannabinoid isolation, is pleased to announce fourth quarter and full year financial results for the year ended December 31, 2018. The audited consolidated financial statements and management’s discussion and analysis for the periods are available on SEDAR.

Fourth Quarter 2018 Highlights

  • Revenue of $10.2 million, commencing November 12th after receipt of sales license from Health Canada
    Gross Profit of $4.0 million, Gross Margin 39%
    Adjusted EBITDA(1) of $2.1 million, Adjusted EBITDA(1) margin of 21%
    Became first fully Licensed Producer to specialize solely in cannabis extraction
    Signed large private label cannabis oil sale agreement with Canopy Growth Corporation for the sale of up to 900 kg over 18 months
    Expanded licensed extraction throughput capacity by 50% to 150,000 kg per year

Full Year 2018 Highlights

  • Strengthened management team adding deep scientific, processing, supply chain, finance and regulatory affairs expertise
    Signed 4 multi-year tolling agreements with James E. Wagner Cultivation Corporation, INDIVA Limited, Emerald Health Therapeutics, Inc. and The Supreme Cannabis Company, Inc.
    Purchased 3.8 million grams of dried cannabis from multiple Licensed Producers to build inventory of cannabis oil to address significant consumer demand
    Initiated construction of MediPharm Labs Australia state-of-the-art cannabis extraction facility with License expected H2/19
    Completed equity financings of over $25 million and debuted as a public company on the TSX Venture Exchange on October 4, 2018
    Awarded “Start-Up of the Year” at the Canadian Cannabis Awards by Lift & Co


2018 was a breakthrough year for MediPharm Labs. We became the first fully Licensed Producer to specialize solely in extraction and quickly scaled operations to emerge as the dominant market leader in the manufacturing of high quality, pharmaceutical-like production of cannabis derivative products – the future of cannabis

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As leading extraction specialists, we demonstrated our ability to rapidly expand our footprint and achieve significant revenue and positive operating cash flow just weeks after receiving our sales License, and our strong operations have continued into 2019. The strength of this performance validates our uniquely focused strategy and investments. We are proud that the MediPharm Labs team stands out among the top global players in the cannabis industry producing tangible results with significant future potential.


2019 Year-to-Date Highlights

  • Executed Private Label Sales Agreements in place valued in excess of $85 million over 15-month period from December 2018
    Executed large Private Label cannabis oil sale for $35 million with additional $13.5 million purchase option over 13-month period
    Signed a 3-year Tolling Agreement with TerrAscend Corp.
    First extraction only LP to sign an International Private Label Sale Agreement with AusCann Group Holdings Ltd. – Export of cannabis oil from Canada to Australia for the manufacturing of hard-shell cannabinoid capsules
    Launched White Label Solutions Platform to extract, purify, formulate, process and distribute for LP’s, direct-to-consumer brands and non-cannabis consumer packaged goods (CPG) companies for provincial distribution
    Signed first White Label agreement to formulate, process and distribute tincture bottles on behalf of an existing brand commencing H2 2019
    Acquired over 5,000 KG of dried cannabis for Private Label cannabis oil production in final two weeks of March
    Initiated trading on OTCQB under symbol “MLCPF” and FSE under symbol “MLZ”

Mr. McCutcheon continued, “Looking ahead, we are now working on an ambitious, well-planned agenda for 2019 that will enable MediPharm Labs to extend our first-mover advantage. We are ramping up production, adding capacity, targeting EU GMP certification, expanding product offerings, developing R&D and IP, signing new sales agreements, and executing on our M&A and international growth pipeline.”

“Most importantly, we see all of this as a starting point. We expect to accelerate our growth globally as the size of our addressable market increases and we strengthen our foothold domestically with the expected legalization of vapeables, edibles, beverages and topicals providing a strong growth trajectory in Canada. We will continue to capitalize on the numerous opportunities available to us through effective capital deployment and continued expert execution to create shareholder value for the long term.”

2019 Strategic Priorities

  1. Forge additional domestic and International sales and supply agreements – Utilizing a first-mover and other proprietary advantages, the Company is focused on procuring cost efficient, bulk dried cannabis supply, increasing wholesale Private Label cannabis concentrate (crude resin and distillate) production and value-added products, services and tolling to win new business domestically and internationally.
    Expand White-Label Solutions Platform Including Formulation, Processing and Distribution Services – Expected legalization of vapeables, edibles, beverages and topicals in October 2019 is also expected to expand the Company’s addressable market and act as a catalyst to encourage a broad array of direct-to-consumer brands and non-cannabis consumer packaged goods companies to seek partners like MediPharm Labs for formulation, processing and provincial distribution.
    Increase cGMP Production Capacity – The Company is on track with the installation and commissioning of 2 additional primary extraction lines at its Barrie facility that are expected to increase annual processing capacity to 250,000 kg over a total of 7 extraction lines. Utilizing cGMP methodology, multiple extraction lines provide flexibility to dedicate to specific customer batches and significantly enhance productivity. Flexibility over multiple extraction lines will be transformative, providing a continued competitive advantage in the cannabis market.
    Achieve European Union GMP Certification at Barrie Facility – Expect to achieve certification in the H2 2019 enabling the Company to serve substantial European demand.
    Complete First International Facility in Australia – Australian centre of excellence is expected to be commissioned in H2 2019, pending licensing, and will act as hub to access Asia-Pacific regions.  The facility is designed to produce to cGMP standards with annual extraction capacity of approximately 75,000 kg of dried cannabis. The Australia region provides a strong backdrop for cultivation given more favorable farming conditions where the Company expects to procure locally sourced lower-cost supply inputs for production.
    Expand Secondary Extraction Capabilities – Advancing industrial-scale distillation and commercial chromatography capabilities to produce active pharmaceutical ingredients that require cannabinoid purity of at least 99.9%.  Development is underway for specialized, proprietary chromatography processing with trials to commence H2 2019.
    M&A and Joint Venture Opportunities – The Company has established a robust pipeline of opportunities to replicate its unique business model in other jurisdictions and complementary acquisitions to further enhance and accelerate organic growth.

2018 Financial Highlights

All dollar amounts are expressed in Canadian dollars unless otherwise stated.

¹Adjusted EBITDA is not a recognized performance measure under IFRS, does not have a standardized meaning and therefore may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is included as a supplemental disclosure because Management believes that such measurement provides a better assessment of the Company’s operations on a continuing basis by eliminating certain non-cash charges and charges or gains that are nonrecurring. Adjusted EBITDA is defined as net loss excluding interest, taxes, depreciation and amortization, and share-based compensation and listing expense. Adjusted EBITDA has limitations as an analytical tool as it does not include depreciation and amortization expense, interest income and expense, taxes, share-based compensation and transaction fees. Because of these limitations, Adjusted EBITDA should not be considered as the sole measure of the Company’s performance and should not be considered in isolation from, or as a substitute for, analysis of the Company’s results as reported under IFRS. The most directly comparable measure to Adjusted EBITDA calculated in accordance with IFRS is operating income (loss). The above is a reconciliation of the Company’s operating loss to Adjusted EBITDA. See “Reconciliation of non-IFRS measures” in the Company’s Management’s Discussion and Analysis for the year ended December 31, 2018 additional information.

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About MediPharm Labs Corp.

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-like 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.

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#1001  Sticky Note Investor Presentation April 2019 MERCURIAL 04/20/19 03:40:36 PM
#296  Sticky Note Up 88% YTD. > February was a solid crudeoil24 03/01/19 10:51:53 AM
#221  Sticky Note MediPharm Labs Signs First International Private Label Sale MERCURIAL 02/22/19 12:20:51 PM
#179  Sticky Note MediPharm Labs Signs $35 Million Private Label Cannabis MADDSTACKER 02/20/19 11:25:45 AM
#1022   That can't be right... up 16% yesterday? ztockings 04/23/19 01:48:11 AM
#1021   Niceeee Dude1967 04/22/19 06:05:59 PM
#1020   Woo hoo!! Yes yes and YES! $LABS....It’s the Sunblazers 04/22/19 04:02:21 PM
#1019   Great day longs .... :) cheers MADDSTACKER 04/22/19 04:00:26 PM
#1018   Nice day! MERCURIAL 04/22/19 04:00:13 PM
#1017   Strong like Bull! MrCheap 04/22/19 03:44:49 PM
#1016   Let’s goo labs choo chooooo MADDSTACKER 04/22/19 03:40:49 PM
#1015   Let's see a strong close. MERCURIAL 04/22/19 03:38:06 PM
#1014   Looking good here! otclife 04/22/19 01:51:48 PM
#1013   Yes Sir! MrCheap 04/22/19 01:48:37 PM
#1012   I’d like green all month MADDSTACKER 04/22/19 01:19:33 PM
#1011   Like that alot more than mornin green! Bwhaha MrCheap 04/22/19 01:00:40 PM
#1010   How bout afternoon green? :) MERCURIAL 04/22/19 12:46:14 PM
#1009   Lovin monday mornin green! MrCheap 04/22/19 11:02:36 AM
#1008   Morning. Looking promising. :) MERCURIAL 04/22/19 10:18:44 AM
#1007   Morning ... MADDSTACKER 04/22/19 09:31:52 AM
#1006   Stacker’s estimates are about what I was figuring. MERCURIAL 04/21/19 11:54:29 AM
#1005   Ah I missed the January piece somehow. Cool otclife 04/21/19 11:28:10 AM
#1004   Looks like 17.5 in January and feb at least MADDSTACKER 04/21/19 09:56:28 AM
#1003   Thanks! So did they book 35 mil in otclife 04/20/19 04:26:16 PM
#1002   And a happy 4/20 to everyone! MERCURIAL 04/20/19 03:41:42 PM
#1001   Investor Presentation April 2019 MERCURIAL 04/20/19 03:40:36 PM
#1000   Don't fly yet till I buy a decent ztockings 04/20/19 12:13:28 PM
#999   Yes, I love this company’s management! Keith and toolandAPC 04/20/19 10:38:16 AM
#998   Ready for Monday. 3 day weekends cause insomnia. MERCURIAL 04/20/19 10:31:05 AM
#997   I believe you posted this one on Twitter TheMonolith 04/20/19 10:21:33 AM
#996   Thanks bro nice video ... To Da Moon MADDSTACKER 04/20/19 09:01:53 AM
#995   Seen all if not most of their videos, ztockings 04/19/19 03:14:28 PM
#994   If you have not seen this video from toolandAPC 04/19/19 09:07:14 AM
#993   “The company has made significant progress in international ztockings 04/19/19 03:07:49 AM
#992   Holy Cow, MEDIF management are top notch! ztockings 04/19/19 02:51:22 AM
#991   MEDIF management sounds top notch and focused as well... ztockings 04/19/19 02:51:22 AM
#990   THANK YOU! Valens sounds great with their ztockings 04/19/19 02:02:33 AM
#989   https://investorshub.advfn.com/Nextleaf-Solutions-Ltd-OILS-36812/ Sunblazers 04/18/19 08:17:26 PM
#988   https://www.thompsoncitizen.net/news/thompson/cannabis-store-eyeing-new-town-squ Sunblazers 04/18/19 05:51:25 PM
#987   Yes, along with two other things. They TheMonolith 04/18/19 02:28:22 PM
#986   Yes Medif is the best play. It has Sunblazers 04/18/19 02:03:14 PM
#985   Are you referring to Halos past connection with deswag 04/18/19 02:02:11 PM
#984   Yes. Halo has warts. Valens could be. TheMonolith 04/18/19 01:54:30 PM
#983   Hello, is this the leader in concentrates? ztockings 04/18/19 12:17:19 PM
#982   I here ya Merc. Ty Ihal 04/18/19 11:06:36 AM
#981   Wasn't trying to ignore you yesterday, missed your MERCURIAL 04/18/19 11:03:19 AM
#980   Not bad at all!! Ihal 04/18/19 11:01:25 AM
#979   Looking better today :) MERCURIAL 04/18/19 11:00:03 AM
#978   Medi always does better in the afternoon MADDSTACKER 04/18/19 10:52:15 AM
#977   I just bought 3.76ers which was a huge otclife 04/18/19 10:29:51 AM
#976   In @ $3.68. Wooooo! deswag 04/18/19 10:10:54 AM
#975   Going to be a green afternoon MADDSTACKER 04/18/19 09:41:36 AM
#974   Buying more today, once my sale of KAYS processes. otclife 04/18/19 09:09:58 AM
#973   https://mobile.twitter.com/MediPharmLabs/status/1118846922985496578 MERCURIAL 04/18/19 08:17:34 AM