An anonymous director reports

MEDIPHARM LABS POSITIONED FOR UNIQUE OPPORTUNITIES ON POSSIBLE RESCHEDULING OF CANNABIS IN THE UNITED STATES

Medipharm Labs Corp. has shared insights on its United States Food and Drug Administration site registration in relation to the possible rescheduling of cannabis in the United States.

Communication from the U.S. federal government and various media reports have indicated that the administration is reviewing the rescheduling of cannabis federally in the U.S. Speculation is that this will mean changing the classification of cannabis from a Schedule I drug to a Schedule III drug.

What rescheduling means for cannabis in the United States:

• The rescheduling would recognize the medical benefits of cannabis at a federal level.
• Schedule III registration would drastically expand the possibility for U.S.-based research on medical cannabis products. Current, Schedule I drug classification puts controls in place that make it difficult for this research to be financed and undertaken today.
• This would open up the possibility for the U.S. to expand special access medical cannabis programs, like those in Canada, Australia and Germany.

How Medipharm is best positioned in the event of rescheduling cannabis in the U.S.:

• Medipharm has gone through the complex process of a foreign drug manufacturing site registration with the U.S. FDA. Following a week-long inspection by an FDA representative Medipharm was granted the ability to produce, label, test and release drugs.
• Medipharm has filed a drug master file (DMF) with the U.S. FDA for CBD active pharmaceutical ingredient (API). The active ingredient file is required for drug manufacturers to source CBD for late-stage clinical trials and finished dose products.
• Medipharm has already shipped medical cannabis API and cannabis products to the U.S. for research, including a National Institutes of Health-(NIH)-financed clinical trial. This delivery required the U.S. FDA site registration and import permits issued by the U.S. DEA (Drug Enforcement Agency).
• Upon possible rescheduling of cannabis, Medipharm Labs holds existing licences and expertise to serve the anticipated expansion of U.S.-based research and possible new medical special access programs.
• To Medipharm's understanding no other publicly listed cannabis-focused company in North America has this stack of licensing, including an FDA-inspected cannabis facility. It takes years of regulatory and quality activities to achieve this suite of licensing and enable clinical research with pharmaceutical cannabis.

Medipharm Labs continues to maintain their top tier pharmaceutical licences and registrations to continue its position as a leader in the global cannabis market. The company will continue to monitor changes in the U.S. scheduling of cannabis to serve researchers and patients with quality cannabis API (application programming interface) and products.

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a good manufacturing practices certified facility with ISO standard-built clean rooms. Medipharm Labs has invested in an expert, research-driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. Medipharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.

In 2021, Medipharm Labs received a pharmaceutical drug establishment licence from Health Canada, becoming the only company in North America to hold a commercial scale domestic good manufacturing licence for the extraction of multiple natural cannabinoids. The company carries out its operations in compliance with all applicable laws in the countries in which it operates.

In 2023, Medipharm acquired VIVO Cannabis Inc. which expanded Medipharm's reach to medical patients in Canada via Canna Farms medical e-commerce platform, and in Australia and Germany through Beacon Medical Pty. and Beacon Medical GmbH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with physician consultations for medical cannabis education and prescriptions.

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