Cronos Group And MediPharm Labs Enter $30M Multi-Year Private Label Cannabis Concentrate Supply Agreement With Potential To Increase To $60M

MediPharm Labs Corp. (TSXV:LABS) (OTCQX:MEDIF) (“MediPharm Labs”) a leader in specialized, research-driven cannabis extraction and cannabinoid isolation, is pleased to announce that it has entered into a multi-year supply agreement with Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) (“Cronos Group”). MediPharm Labs will supply Cronos Group with approximately $30 million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to $60 million over 24-months.  In addition, Cronos Group has selected MediPharm Labs’ state of the art extraction facility in Barrie, Ontario, as a preferred partner to fulfill certain of its processing needs, under a separate tolling arrangement.