[PRESS RELEASE] – TORONTO, Would possibly 22, 2025 – MediPharm Labs Corp., a pharmaceutical corporate specialised in precision-based cannabinoids, introduced the removing of all prerequisites precedent, associated with its in the past introduced settlement for the sale of MediPharm’s 47,000-square-foot facility in Hope, British Columbia, to Rubicon Organics Inc. for $4.5 million in money.
With those prerequisites now met, the $4.5 million sale of the Hope Facility stays not off course to near in June 2025. The transaction will bolster MediPharm’s already sturdy money place and just about debt-free monetary standing.
“The $4.5 million in money proceeds from divesting noncore belongings helps our roadmap to ship long-term worth for shareholders and companions, enabling persevered center of attention on accelerating world enlargement and exploration of key acquisition alternatives,” MediPharm CEO David Pidduck stated.
For Rubicon Organics, this milestone clears the trail for the corporate to noticeably extend its top class manufacturing capability and beef up its enlargement technique.
“Our acquisition of the Hope Facility marks a pivotal step ahead for Rubicon Organics,” CEO Margaret Brodie stated. “The Hope Facility complements our skill to satisfy rising call for for our top class manufacturers, boost up innovation, and force long-term worth for shareholders.”
MediPharm in the past obtained the Hope Facility as a part of the a hit VIVO Hashish Inc. acquisition in 2023, and the corporate ceased all Hope Facility industrial actions in 2024, consolidating key operations at its different amenities. The consolidation of operations used to be all a part of MediPharm’s ongoing solution to cut back running and overhead prices and monetize redundant belongings. The mixture worth of the corporate’s asset gross sales since 2022, together with the Hope Facility, general roughly $14 million, all of which has contributed to lowering prices and boosting the corporate’s steadiness sheet.
Since the second one quarter of 2022, when implementation of this technique started, to the primary quarter of 2025, MediPharm has lowered running and overhead prices by way of roughly $42 million on an annualized foundation.
