Mr. Greg Hunter reports

MEDIPHARM LABS EXPANDS ITS INTERNATIONAL MEDICAL CANNABIS FOOTPRINT WITH FIRST CBD METERED-DOSE INHALER SHIPMENT TO PANAMA

Medipharm Labs Corp. has entered into Panama's medical cannabis market with a first commercial shipment to Adeiwa Pharma. The initial shipment of CBD metered-dose inhalers represents Medipharm's first sale into the country and extends an international footprint that spans shipments to more than 10 countries and regions, including Germany, the United Kingdom, France, Australia, New Zealand, Brazil and the United States.

Adeiwa Pharma will use its distribution and clinic relationships to support access for patients in Panama, with the products expected to reach patients this month.

"We are pleased to announce Medipharm's first commercial sale into Panama and another important expansion of our international medical business," said Greg Hunter, interim chief executive officer and chief financial officer of Medipharm Labs. "Each new market builds on the regulatory credentials and pharmaceutical manufacturing capabilities we have established over many years. We look forward to working with Adeiwa Pharma to bring our CBD metered-dose inhaler to patients in Panama and to continue expanding access to high-quality cannabinoid medicines in regulated international markets."

The CBD metered-dose inhaler is manufactured using pharmaceutical-grade cannabidiol active pharmaceutical ingredient (API) and is a smoke-free cannabinoid delivery system designed to deliver a precise, repeatable dose through a familiar pharmaceutical device.

Under Panama's medical cannabis framework, established by Law 242 of 2021 and its implementing regulations, the National Directorate of Pharmacy and Drugs has authorized the importation of Medipharm's CBD metered-dose inhaler under an exception to sanitary registration, allowing the product to be supplied through authorized private pharmacies.

The shipment comes as regulated medical cannabis markets continue to develop across Latin America. One independent market estimate projects the Latin American medical cannabis market to reach approximately $581.5-million (U.S.) by 2030, compared with $78.1-million (U.S.) in 2023, representing a projected compound annual growth rate of 33.2 per cent from 2024 to 2030. The company continues to evaluate opportunities to introduce innovative cannabinoid dosage formats into regulated international markets where its GMP (good manufacturing practice) credentials and pharmaceutical manufacturing capabilities support market access.

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 practices licence for the extraction of multiple natural cannabinoids. This GMP licence was the first step in the company's current foreign drug manufacturing site registration with the U.S. Food and Drug Administration. Medipharm also has European Union GMP certification, Anvisa GMP certification from Brazil and TGA compliance in Australia.

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

The company carries out its operations in compliance with all applicable laws in the countries in which it operates.

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