MediPharm Labs has terminated the previously announced sale of its facility in Napanee, Ontario to Kensana Health which was to be completed through the sale of the Company's wholly-owned subsidiary ABcann Medicinals.
The Company has given notice of termination as required under the Purchase Agreement, as Kensana Health did not meet certain agreed upon terms and conditions within the timelines set out therein. Pursuant to the terms of the Purchase Agreement, MediPharm Labs will retain certain non-refundable deposits received from Kensana Health. For further details regarding the Transaction, please see the Company's press releases dated December 17, 2024 and January 16, 2025.
MediPharm Labs' current, commercial agreements and operations at the Napanee Facility, are expected to continue without disruption.
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MediPharm Labs
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