MediPharm Labs Corp. (TSX-V: LABS) (OTCQB: MEDIF) (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 it has received Depository Trust Company (DTC) eligibility for its common shares in the United States. “DTC eligibility” simplifies the process of trading and transferring the Company’s common shares between brokerages in the U.S.
“We are pleased that MediPharm Labs common shares are now considered to be “DTC Eligible”, to facilitate the trading of our common shares in the U.S. markets”, said Patrick McCutcheon, Chief Executive Officer, MediPharm Labs. “We will continue to pursue opportunities that enhance our value, liquidity and strengthen our shareholder base while improving accessibility for all U.S. investors and institutions, as well as global investors, to participate in the future growth of MediPharm Labs”.
DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that facilitates electronic trading in the United States. Securities that are considered “DTC eligible”, may be electronically cleared and settled through DTC. MediPharm Labs common shares are now eligible to be distributed, settled and serviced through DTC’s automated processes, providing greater efficiency and reduced costs as a result of the electronic method of clearing securities and accelerated settlement processes. Securities that are DTC eligible often experience increased trading volumes. In addition, DTC eligibility addresses the issue that many U.S. firms have that prohibit trading in shares that are not DTC eligible.
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 licence. 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.