MediPharm Labs Corp (CVE:LABS) Inks $35 Million Cannabis Oil Deal

MediPharm Labs Corp (CVE:LABS) (OTCMKTS:MLCPF) CEO Keith Strachan shares details of the company’s blockbuster deal with a private buyer. Strachan explains that the agreement is for 75-80 percent pure crude resin medical concentrates with the option for further sales worth $13 million. The 13 month contract creates stability for MediPharm. The deal builds on MediPharm’s existing supply agreements with big names like Canopy Growth Corp (TSE:WEED) (NYSE:CGC) (FRA:11L1). The company generated $10 million in sales in December and Strachan believes it is well-positioned for acquisition and expansion opportunities. MediPharm has expanded internationally and its facility near Melbourne, Australia is waiting for government licenses.