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MediPharm Australia to Supply Pharma-Quality Cannabis Oils to Compass Clinics in Australia

Medipharm Labs Cannabis StockMediPharm Labs Corp. (OTC: MEDIF) announced that it will start to supply pharmaceutical-grade cannabis oil products in Australia. The supplying of pharma-quality cannabis oil products is part of a 2-year supply agreement that MediPharm Labs Australia entered into with Compass Clinics Australia Pty Ltd. (Compass Clinics). MediPharm Labs is a global leader in pharmaceutical-quality cannabis extraction, distillation and derivative products and Compass Clinics is a growing medical cannabis service provider in Australia that recently opened its first two medical cannabis clinics in 2019. The clinic is now starting to sell its own branded medical cannabis products and expects to open more medical cannabis clinics in 2020. As of right now, Compass Clinics sells cannabis and cannabis oil products to its patients through licensed third parties.

As per the terms of the 2 year supply agreement, MediPharm Labs Australia will supply Compass Clinics with bottles of formulated cannabis oil that are labeled with Compass Clinics’ brand. The company will import formulated cannabis oil bottles from MediPharm Labs’ Canadian TGA GMP certified facility in order to distribute them to Compass Clinic in Australia.

Pat McCutcheon, Chief Executive Officer, MediPharm Labs, stated: “We are delighted to be working with leaders like Compass Clinics who are committed to offering medical patients high-quality cannabis oil products. As the Australian government  begins to raise minimum requirements for cannabis imports, this partnership highlights the strength of our international supply chain, including our recent Australian GMP certification and import licenses, that we expect will lead to the increasing demand of our pharma-quality products and expansion of our presence in Australia and other emerging global markets.”

The news of MediPharm’s supply agreement between MediPharm Labs Australia and Compass Clinics being finally underway might lead cannabis investors to think that the company’s stock could be one of the best cannabis investing opportunities to invest in. Due to the selloffs caused by COVID-19, it could be seen as a great time for an investment in MediPharm Labs. But is this one of the best cannabis stock picks for 2020?

Currently, MediPharm Labs is not recommended by our analysts, even in light of the news that the 2-year supply agreement is now underway. We have a list of several cannabis companies that are strongly recommended by our analysts to be the best cannabis stock picks for 2020. Larger companies, such as Canopy Growth Corporation or Aurora Cannabis, are well-known within the cannabis industry, but smaller cannabis corporations along the lines of MediPharm Labs offer investors with the opportunity for great long-term growth.

MediPharm Australia to Supply Pharma-Quality Cannabis Oils to Compass Clinics in Australia

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