Mr. Michael Bumby reports

MEDIPHARM LABS ANNOUNCES VOTING RESULTS FROM THE 2024 ANNUAL MEETING OF SHAREHOLDERS

Medipharm Labs Corp. has released the results of matters voted on at its annual meeting of holders of common shares, held on Wednesday, June 26, 2024. The voting results for each of the matters presented at the meeting are outlined in this news release.

There were 337 shareholders represented virtually or by proxy at the meeting, holding 59,605,486 common shares, representing 14.72 per cent of Medipharm Labs' total issued and outstanding common shares as at the record date for the meeting. As the meeting was held virtually, all resolutions were passed by a ballot vote.

Election of directors

Each of the nominees for election as directors was elected as a director of Medipharm Labs for the ensuing year or until a successor is elected or appointed. Voting results for the election of the individual directors are as set out in an attached table.

The company's board of directors continues to be composed almost entirely of independent directors, with David Pidduck being the only executive director.

Appointment of auditor

MNP LLP, chartered professional accountants, was appointed as the auditor of Medipharm Labs until the next annual meeting of the holders of the shareholders at remuneration to be fixed by the directors. Voting results are as set out in an attached table.

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 GMP-certified (good manufacturing practices) 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 with five primary extraction lines 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 GMP 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.

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