An anonymous director reports

MEDIPHARM LABS RESPONDS TO FABRICATED ALLEGATIONS FROM DISSIDENT SHAREHOLDER

Medipharm Labs Corp. is aware of the news release issued by Apollo Technology Capital Corp. on May 29, 2025, making baseless allegations of malfeasance against the company.

These patently false allegations have been intentionally or recklessly fabricated as part of the campaign of misinformation employed by Apollo and its chairman and chief executive officer Regan McGee in their bid to distract and mislead the company's shareholders and parlay their 3-per-cent ownership position into total control of Medipharm's board of directors.

Medipharm recently completed a full year-end audit with MNP LLP and received a clean audit opinion dated March 30, 2025, as it had in all previous fiscal years since becoming a public company. Public companies are not required to audit their quarterly financial results nor is it market practice to do so. The company complies fully with international financial reporting standards and its continuous disclosure obligations pursuant to Canadian securities law.

Medipharm has commenced legal proceedings this week to address, in part, material misstatements Apollo has been making and has asked the court to award its costs.

About Medipharm Labs Corp.

Founded in 2015, Medipharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products utilizing a good manufacturing practice 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 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 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.

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