“MediPharm Labs is dedicated to developing innovative and customized formulated products that consumers can trust for their individual medicinal and wellness needs…Our latest release of new cannabinoid based formulas, including our first formulation of minor cannabinoid CBN, enables us to fulfill increasing customer demand for more personalized products while maintaining our commitment to pharma-quality manufacturing,” said Keith Strachan, President and Interim CEO, MediPharm Labs.
These new products are the latest in MediPharm’s family of branded products. Each products is intended to deliver a unique flavor profile from the naturally occurring cannabis terpenes. Moreover, products are made using coconut/palm-based MCT carrier oil standards to ensure the highest purity and quality. The Company’s CBD100 Ultra Formula oil contains the highest amount of CBD currently available at 100mg/ml. In contrast, MediPharm’s THC30 Plus Formula oil contains 30mg/ml of tetrahydrocannabinol (THC), the most potent format available under Health Canada’s regulation.
The cream of the crop is MediPharm’s next generation oil products launched with the Company’s first unique CBN formula. CBN1: 2 Nighttime Formula contains 10mg/ml of CBN and 20mg/ml of THC using full spectrum cannabis concentrate CBN. Compared to CBD and THC, CBN is the mysterious cousin that occasionally shows up to family events. CBN is essentially the oxidization product of THC; more specifically, THC will slowly turn into CBN when exposed to environmental factors like heat and light. Some of CBN’s supposed benefits include pain relief, sleep aid, inflammation, and sedative effects. However, CBN has not been fully researched in human subjects leaving much of its potential benefits up for debate.
Initial quantities of MediPharm’s products will be available in the coming weeks for patients through Medical Cannabis by Shoppers™ and for consumers through retail channels in Ontario, British Columbia, Alberta, Manitoba and Saskatchewan. The Company plans to achieve full national distribution of its full suite of cannabis products, becoming a “one-stop-shop” for retailers and distributors across Canada.
MediPharm most recently entered into a supply agreement with Société Quebecois Du Cannabis. Getting a foot in Quebec’s highly active cannabis market was a profitable move for MediPharm and demonstrates the Company’s ambition of expanding its footprint. However, MediPharm’s growth has been relatively stagnant as of this month. Depending on the success of its next generation oils, the Company could see its stock price spike in the upcoming weeks.
MediPharm’s stock price opened at $0.48 and is currently sitting at $0.47.