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MEDIF

Medipharm Labs

$0.00

(0.00%)

07:30
09/03/19
09/03
07:30
09/03/19
07:30

Medipharm Labs sees construction complete for Australia facility by year-end

Construction of MediPharm Labs Australia's extraction and manufacturing facility in Wonthaggi, Victoria is progressing very well with completion on target before year-end 2019. The state-of-the-art facility will feature supercritical CO2 extraction capacity to process up to 75,000 kg of dried cannabis annually as well secondary processing equipment for the manufacture of purified and high-concentrate cannabis distillate. Industrial-scale production will be supported by leading infrastructure designed with ISO standard-built cleanrooms and critical environments that accommodate global Good Manufacturing Practices workflow. Key customized equipment, including two primary extraction systems, have been ordered and shipped, with commissioning planned for November. MediPharm Labs Australia received its cannabis manufacturing licence from the ODC under the Narcotics Drugs Act 1967 on May 21, 2019. Sales generation from the facility is expected to begin in the first half of 2020, subject to receipt of certain local authorizations and a certification from the Therapeutic Goods Association of Australia. Federal legislation to enable the production and sale of cannabis for medical use and related research purposes was passed by Australia's parliament in 2016. The laws allow concentrate-based medical cannabis to be prescribed in Australia for the treatment of a variety of specific illnesses.

MEDIF Medipharm Labs
$0.00

(0.00%)

08/07/19
ROTH
08/07/19
INITIATION
ROTH
Buy
Medipharm Labs initiated with a Buy at Roth Capital
Roth Capital analyst Scott Fortune started coverage of Medipharm Labs with a Buy rating and C$9 price target. The analyst believes the current share price represents an attractive entry point, as momentum of oil-based products will accelerate growth in extraction demand.

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