TORONTO – MediPharm Labs Corp. and Rubicon Organics Inc. have reached an agreement under which Rubicon will purchase MediPharm’s facility in Hope, B.C., for $4.5 million in cash. The sale will include equipment, land, and building.
MediPharm ceased all commercial activities at the Hope Facility in 2024, consolidating operations to deliver cost synergies following its acquisition of VIVO Cannabis Inc. Through the transaction, MediPharm Labs is monetizing its non-core assets to invest in growth and continue delivering GMP-certified cannabinoid products to customers worldwide.
David Pidduck, CEO of MediPharm Labs, commented, “Securing $4.5 million through the divestment of non-core assets in this transaction will further reinforce MediPharm’s ability to capitalize on strategic M&A synergies, streamline operations and maximize value for both shareholders and valued partners.
“The sale of the Hope Facility strengthens not only our cash position but also our 2025 focus: investing in our international and medical growth strategies as a global leader in pharmaceutical cannabinoid solutions,” he added.
The transaction is expected to close within the second quarter of 2025, subject to customary closing conditions and receipt of all necessary approvals, as applicable.
About MediPharm Labs
Founded in 2015, MediPharm Labs specializes in the development and manufacturng of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a GMP-certified facility with ISO-standard-built clean rooms. MediPharm Labs has invested in an expert, research driven team, state-of-the-art technology, downstream purification methodologies and purpose-built facilities for delivery of pure, trusted and precision-dosed cannabis products for its customers. MediPharm Labs develops, formulates, processes, packages and distributes cannabis and advanced cannabinoid-based products to domestic and international medical markets.
