Mr. David Pidduck reports

MEDIPHARM LABS ANNOUNCES DEPARTURE OF PRESIDENT AND CO-FOUNDER KEITH STRACHAN

Medipharm Labs Corp. president and co-founder Keith Strachan will be stepping down from his management position effective Dec. 31, 2024. Mr. Strachan will continue to provide strategic support and guidance to the company by joining the board of directors, effective Jan. 1, 2025.

Since 2015, Mr. Strachan has been instrumental in shaping Medipharm Labs into a pioneering force in the cannabis industry. His notable achievements include co-founding the first extraction-only cannabis company, overseeing the company's successful acquisition and integration of Vivo Cannabis Inc., and leading Medipharm Labs to become the first commercial cannabis company in Canada to receive good manufacturing practice (GMP) site registration from the United States Food and Drug Administration.

Medipharm Labs remains committed to its mission of providing high-quality, innovative cannabis solutions globally and ensuring the highest standards of production and compliance. The company will continue to focus on growing internationally, while maintaining its strong debt free balance sheet and enhancing profitability.

Management commentary

David Pidduck, chief executive officer of Medipharm Labs, reflected on Mr. Strachan's contributions to the company: "Keith's visionary leadership and relentless pursuit of success has played a vital role in shaping Medipharm into becoming a leading global pharmaceutical cannabis company. International revenues now represent a significant component of company revenues due in large part to his leadership. Keith's strategic insight is expected to continue to benefit Medipharm Labs as he joins the board of directors in January, 2025."

Mr. Strachan expressed his thoughts on this transition: "It has been an honour to serve as president of Medipharm Labs. I am incredibly proud of what we have accomplished together. As a team, we have found our niche in the cannabis industry and we now serve wellness consumers and patients globally. After over a decade in this industry, I am excited to support the company in a new capacity as a board member. Medipharm Labs is well positioned for future success and I look forward to contributing to its ongoing growth."

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.

In 2023, Medipharm acquired Vivo Cannabis, 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 Australia Pty. Ltd. and Beacon Medical Germany 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.

We seek Safe Harbor.