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November 15 , 2021 MediPharm Reports Third Quarter 2021 Results ; Announces New CEO to Start Today MediPharm Labs BARRIE , Ontario , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) -- MediPharm Labs Corp. ( TSX : LABS ) ( OTCQX : MEDIF ) ( FSE : MLZ ) ( " MediPharm " or the " Company " ) a pharmaceutical company specialized in precision - based cannabinoids today announced its financial results for the three and nine months ended September 30 , 2021 , a period of transition in establishing itself as an international pharmaceutical company specializing in cannabis . Q3 2021 Key Highlights • Received North America's sole Drug Establishment Licence ( " DEL " ) amongst cannabis companies , which will allow MediPharm to conduct pharmaceutical manufacturing and sale of Active Pharmaceutical Ingredients and Finished Dose Goods containing cannabis . Medi Pharm's current and future domestic Canadian cannabis partners will benefit from the DEL as MediPharm can now provide them a conduit to pharmaceutical and international markets . The DEL is a key enabler of the Company's future successes . • International sales increased 16.5 % sequentially to $ 2.9 million and represented 53 % of sales in Q3 . • Announced new CEO , Mr. Bryan Howcroft to drive international and pharmaceutical sales growth . Strong balance sheet position , with $ 38 million in cash and cash equivalents as at September 30 , 2021 . • Succeeded in the Ontario Cannabis Store product call adding SKUs in oil and vape formats , particularly a high demand CBD vape product that contains only CBD and naturally derived terpenes . This CBD vape is more shelf stable versus current Canadian competitors . • Achieved Major Pharmaceutical Milestone for global distribution , including in the U.S. • New product development innovation for new areas of growth in CBN and other cannabinoids . Q3 Overview