MediPharm Labs Releases Shareholder Letter Ahead of Annual Meeting

MediPharm Labs Corp. (TSX: LABS), a leader in precision-based cannabinoids, is gearing up for its upcoming Annual and Special Meeting of Shareholders on June 16, 2025. In preparation for this pivotal event, the company has filed its Management Information Circular (MIC) along with proxy materials, which are now accessible to shareholders through the SEDAR+ website.

The company has encouraged shareholders to support the incumbent Board of Directors by voting using the GREEN proxy card. This call to action comes during a period of notable progress for MediPharm, as outlined in a letter from Chris Taves, the Chair of the Board. The letter emphasizes the company’s remarkable achievements in the past year, including a 27% increase in net revenue and the highest gross profit margin in recent years, now standing at 31%.

Taves highlighted the impressive turnaround MediPharm has made since the peak of the cannabis market, noting the efforts taken since 2022 to refocus operations and prioritize core business functions. The transformation included the strategic acquisition of VIVO Cannabis, which has opened new international markets and significantly boosted revenue streams.

Despite these advancements, the upcoming shareholder meeting faces potential disruption from a dissident shareholder, Apollo Technology Capital Corp., which has made moves to nominate an alternative slate for the Board. Taves expressed concern over Apollo's lack of a coherent plan for MediPharm's future, noting that most of their nominees lack experience in the pharmaceutical or cannabis sectors--areas where MediPharm is focused.

The letter details the steps MediPharm is taking to solidify its competitive edge in the cannabis industry, including their commitment to maintaining a high standard of Good Manufacturing Practices (GMP). This compliance not only bolsters their domestic operations but also serves as an essential aspect of their international expansion strategy. Sales from international markets have reportedly accounted for over 50% of revenues in recent quarters, showcasing the company’s growing footprint abroad.

As MediPharm gears up for the meeting, they invite shareholders to stay informed about the latest developments and to actively participate in shaping the company's future. Resources for shareholders, including voting instructions and information on the dissident campaign, are readily available on the company's dedicated AGM website.

In ending the letter, Taves reiterates the importance of shareholder engagement and the need for collective efforts to support the current direction of MediPharm Labs. The company believes that maintaining the current Board and its strategy is crucial not just for safeguarding shareholder investments but for ensuring sustained growth and success in a competitive market.

For further inquiries or assistance regarding the voting process, shareholders are encouraged to reach out to MediPharm’s strategic shareholder advisor, or visit the official AGM website for updates. The meeting is positioned as a key moment for shareholders to reaffirm their commitment to MediPharm’s vision and long-term goals.