- Received first instalment of a government grant for
$330 ,000AUD as part of the Australian government’s Manufacturing Modernisation program aimed at supporting manufacturers scaling their businesses. - Grant to be used for automation of downstream manufacturing and scaling purification abilities.
- Government grant as part of broader manufacturing sector funding demonstrates the backing of the medical cannabis industry by the Australian federal government and recognition of MediPharm Labs Australia’s role in this industry.
- increased innovation and enhanced productivity in Australian manufacturing operations; and
- increased job opportunities and upskilling in the Australian manufacturing sector.
Medipharm Labs Australia intends to use the funds to increase the efficiency of its cannabis purification system and enhance the automation of its primary packaging manufacturing process.
The enhanced automation of these production processes will allow MediPharm Labs Australia to service its growing domestic and international client base along with the anticipated increase in demand for its products.
In Q1 2021, MediPharm Labs Australia made it’s first shipments to
“Through the awarding of this grant, the Australian Government has recognised
The Company looks forward to further announcing executed progress on this project and how it will lead to revenue growth opportunities.
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This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, statement regarding: increased efficiency; enhanced automation; growing domestic and international client base; anticipated increase in demand for products; boosted productivity; accelerated expansion plans; and execution on the Company’s global strategy. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of
For further information, please contact: MediPharm Labs Investor Relations Telephone: +1 416.913.7425 ext. 1525 Email: investors@medipharmlabs.com Website: www.medipharmlabs.com
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