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Jun 22, 2020

MediPharm Labs Completes $37.8 Million Private Placement

Melanie Cole, Amy Marcen-Gaudaur, Meredith McCann and Aaron Collins

MediPharm Labs Corp. (“MediPharm Labs” or the “Company”), a global leader in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, recently completed a private placement with an institutional investor (the “Investor”) for aggregate gross proceeds of $37,822,500 (the “Offering”).

On June 8, 2020, MediPharm Labs completed the Offering pursuant to which $18,911,250 was related to the placement of a $20.5 million unsecured convertible note and a warrant to purchase up to 3,601,427 common shares of the Company (the “Common Shares”); and $18,911,250 of which is currently being held in escrow and is related to the placement of a subscription receipt entitling the holder to receive, upon satisfaction of certain escrow release conditions, a further $20.5 million unsecured convertible note and a further warrant to purchase up to 3,601,427 Common Shares.

Aird & Berlis LLP represented MediPharm Labs with a team comprised of Melanie Cole, Amy Marcen-Gaudaur and Meredith McCann (capital markets), and Aaron Collins (financial services).

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