Mr. Pat McCutcheon, founder and shareholder, reports

MEDIPHARM LABS' FOUNDER-CEO PAT MCCUTCHEON THROWS HIS SUPPORT BEHIND APOLLO CAPITAL AS DISSIDENT

Pat McCutcheon, a founder, former chief executive officer, director and chairman of Medipharm Labs Corp., has joined Apollo Technology Capital Corp. as a co-dissident in its battle to bring integrity, transparency and prosperity back to Medipharm's long-suffering shareholders.

Mr. McCutcheon stated: "I have been observing Apollo's activist campaign from the sidelines, and I can no longer just sit by and watch. I still feel a deep responsibility to the company, its employees and the shareholders who have invested millions into the vision of Medipharm being the global leader in medical cannabis and cannabis-derived pharmaceutical products. Over the past three years, the share price has collapsed while the senior management team has been paid over $10-million, a compensation program that should never have been approved by the independent directors. Management has failed to capitalize on the medical cannabis opportunity and taken the company away from its founding vision by entering the recreational market, taking on dilutive M&A transactions and recently announcing a return to cultivating cannabis. This is not the Medipharm investors have supported.

"I have gotten to know Regan McGee and his team of proposed directors. The directors have a broad range of relevant experience including medical cannabis experience, turnaround experience and extensive capital markets experience. Regan has demonstrated himself to be a skilled investor who has been successful in both start-ups and turnaround projects. He's also overcome great personal adversity, showing that he never backs down from a fight. In terms of the negative statements from Medipharm about Regan, the ones that I have been able to independently verify have turned out to be simply fabrications that appear to be part of Medipharm's campaign to discredit and defame Regan. I believe the attacks on Regan and his business record are not factual and more importantly hide the real issues that shareholders should be considering such as compensation, dilution and the share price. On each of these fronts, I believe the Apollo directors are a better choice than the directors put forward by the current board.

"We need to focus on the real issues -- who is going to drive the stock price higher. Apollo only makes money when the stock price goes up, as all the shareholders do together. This is why I support the Apollo team. I'm asking shareholders to vote gold at this year's AGM. We do not have time to wait."

Apollo notes that its business model with Medipharm is highly aligned with shareholders. As an activist investor, it looks to make investments in poorly managed companies where new governance and management can work to improve the share price for Apollo and all other investors. Apollo's business model is to buy stock in target companies and work with frustrated shareholders to secure the majority of votes needed to replace board members and executives with ones focused on share value growth. Apollo does not "take over" or otherwise control its target companies, rather it appoints directors who recognize their legal fiduciary duty to act in the best interests of all common shareholders.

Regan McGee of Apollo Capital commented: "We are immensely proud to welcome Pat McCutcheon as a co-dissident. Pat is responsible for helping to build Medipharm into an absolute powerhouse in the cannabis industry, and I can only imagine how difficult it has been for him to watch the company he loves so much be mismanaged virtually to the point of insolvency.

"Pat and I want exactly the same thing -- to restore value to Medipharm shareholders and to usher in a new era of profitability, good governance and, most importantly, accountability. We both believe that if we all come together and take urgent action, the future for the Medipharm will be bright."

"In connection with the addition of Mr. McCutcheon as a 'dissident' within the meaning of applicable corporate laws, an addendum dated June 4, 2025, to the dissident information circular dated May 15, 2025, has been filed on SEDAR+ under Medipharm's profile. Shareholders are encouraged to read the circular, as supplemented and amended by the addendum.

Apollo Capital's strategic five-pillar plan for Medipharm has been made available in detail on-line. With shareholder support, Apollo can turn Medipharm around and transform it into the world's leading medical cannabis company.

Apollo Capital urges shareholders to vote for change by voting the gold card by June 12, 2025. Shareholders are urged not to sign or return the green proxy cards sent by the company.

We seek Safe Harbor.