Latest news with #MediPharmLabs
Yahoo
3 days ago
- Business
- Yahoo
MediPharm Labs Refuses to Answer Direct Questions Regarding Credible Securities Fraud Allegations Says Apollo Capital
Demands Management's Board Nominees John Medland and Emily Jameson Withdraw Immediately or Face Public Complicity in Ongoing Alleged Systemic Violations of Securities LawsTORONTO, May 30, 2025 (GLOBE NEWSWIRE) -- Apollo Technology Capital Corporation ('Apollo Capital'), which together with its affiliates and associates collectively is one of the largest shareholders of MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) ('MediPharm', 'MediPharm Labs', or the 'Company'), owning approximately 3% of the Company's common stock, today condemned MediPharm Labs and its leadership team for their blatant failure and outright refusal to answer simple, direct, and highly serious questions concerning credible allegations of alleged extensive securities act disclosure violations committed by the MediPharm Labs' Board of Directors (the 'Board') and management team. In a deeply troubling display of evasion and obfuscation, MediPharm Labs' senior management and current board—including Chairman Chris Taves (Managing Director and Head of Capital Markets for Asia at BMO), CEO David Pidduck (former CEO of OxyContin® Manufacturer Purdue Pharma), Shelley Potts, Chris Halyk, Keith Strachan, and recently resigned Audit Committee Chair Michael Bumby—have persistently refused to respond meaningfully to allegations of systemic and intentional securities fraud. Apollo Capital asks incoming MediPharm Labs Board nominees John Medland and Emily Jameson: How long will you continue standing for election to a board that consistently refuses to answer basic questions about credible allegations of securities fraud? Are you prepared to potentially permanently stain your professional reputations by associating yourselves with an entity that has been accused of deliberately evading accountability and transparency? Apollo Capital demands immediate, straightforward answers from MediPharm's directors to the following questions: Has MediPharm Labs changed its revenue recognition practices from those in place two years ago? Is any purported growth simply a result of creative accounting designed to deceive shareholders? Given the undeniable gravity and credible evidence surrounding these allegations, Apollo Capital reiterates its urgent call for an immediate, comprehensive investigation by regulatory authorities including the Ontario Securities Commission (OSC), the Toronto Stock Exchange (TSX), and the U.S. Securities and Exchange Commission (SEC). Earlier this week, Apollo Capital raised broader concerns about the current Board's commitment to ethical conduct, asking its fellow shareholders if they felt like Chairman Chris Taves properly fulfilled his fiduciary and moral duties and obligations to make them fully aware of David Pidduck's history as CEO and VP of Marketing for OxyContin® Manufacturer Purdue Pharma, and whether they felt like details of Pidduck's very recent past were MATERIAL facts that Chairman Taves should have made crystal clear before asking them on multiple occasions to vote in favour of Pidduck's outrageous and off-market compensation package. Apollo Capital's nominees, experienced professionals known for corporate turnarounds, have clearly outlined their mission: to root out any corporate rot, restore credibility, and return value to shareholders. MediPharm Labs shareholders deserve accountability, transparency and competent leadership—not empty claims, evasive tactics and an almost complete destruction of investor value. Previous Apollo Capital press releases detailing allegations of fraudulent and unethical activities at MediPharm Labs can be accessed here: Alleged Securities Fraud at MediPharm Labs Says Apollo Capital (May 29, 2025) Apollo Capital Calls Out MediPharm Chairman Chris Taves (Managing Director, BMO Capital Markets) for Failure to Properly Communicate to Shareholders Details of David Pidduck's Past as CEO and VP of Marketing for OxyContin® Manufacturer Purdue Pharma (May 27, 2025) Apollo Capital Comments on MediPharm Labs' Failure to Respond to Reasonable Offer to Ensure Fair, Lawful and Transparent 2025 Annual Meeting (May 23, 2025) MediPharm Labs Shareholders can visit to sign up for important campaign updates. To access Apollo Capital's Circular and related proxy materials, including a proxy or voting instruction form, visit SEDAR+ at Contacts For Shareholders:Carson ProxyNorth American Toll-Free Phone: 1-800-530-5189Local or Text Message: 416-751-2066 (collect calls accepted)E: info@ For Media:CureMediPharm@ Legal Disclosures Information in Support of Public Broadcast Exemption under Canadian Law In connection with the Annual Meeting, Apollo Capital has filed an amended and restated dissident information circular (the "Circular") in compliance with applicable corporate and securities laws. Apollo Capital has provided in, or incorporated by reference into, this press release the disclosure required under section 9.2(4) of NI 51-102 – Continuous Disclosure Obligations ("NI 51-102") and the corresponding exemption under the Business Corporations Act (Ontario), and has filed the Circular, available under MediPharm's profile on SEDAR+ at The Circular contains disclosure prescribed by applicable corporate law and disclosure required under section 9.2(6) of NI 51-102 in respect of Apollo Capital's director nominees, in accordance with corporate and securities laws applicable to public broadcast solicitations. The Circular is hereby incorporated by reference into this press release and is available under MediPharm's profile on SEDAR+ at The registered office of the Company is 151 John Street, Barrie, Ontario, Canada L4N 2L1. SHAREHOLDERS OF MEDIPHARM ARE URGED TO READ THE CIRCULAR CAREFULLY BECAUSE IT CONTAINS IMPORTANT INFORMATION. Investors and shareholders are able to obtain free copies of the Circular and any amendments or supplements thereto and further proxy circulars at no charge under MediPharm's profile on SEDAR+ at In addition, shareholders are also able to obtain free copies of the Circular and other relevant documents by contacting Apollo Capital's proxy solicitor, Carson Proxy Advisors Ltd. ("Carson Proxy") at 1-800-530-5189, local (collect outside North America): 416-751-2066 or by email at info@ Proxies may be revoked in accordance with subsection 110(4) of the Business Corporations Act (Ontario) by a registered shareholder of Company shares: (a) by completing and signing a valid proxy bearing a later date and returning it in accordance with the instructions contained in the accompanying form of proxy; (b) by depositing an instrument in writing executed by the shareholder or by the shareholder's attorney authorized in writing; (c) by transmitting by telephonic or electronic means a revocation that is signed by electronic signature in accordance with applicable law, as the case may be: (i) at the registered office of the Company at any time up to and including the last business day preceding the day the Annual Meeting or any adjournment or postponement of the Annual Meeting is to be held, or (ii) with the chair of the Annual Meeting on the day of the Annual Meeting or any adjournment or postponement of the Annual Meeting; or (d) in any other manner permitted by law. In addition, proxies may be revoked by a non-registered holder of Company shares at any time by written notice to the intermediary in accordance with the instructions given to the non-registered holder by its intermediary. It should be noted that revocation of proxies or voting instructions by a non-registered holder can take several days or even longer to complete and, accordingly, any such revocation should be completed well in advance of the deadline prescribed in the form of proxy or voting instruction form to ensure it is given effect in respect of the Annual Meeting. The costs incurred in the preparation and mailing of any circular or proxy solicitation by Apollo Capital and any other participants named herein will be borne directly and indirectly by Apollo Capital. However, to the extent permitted under applicable law, Apollo Capital intends to seek reimbursement from the Company of all expenses incurred in connection with the solicitation of proxies for the election of its director nominees at the Annual Meeting. This press release and any solicitation made by Apollo Capital is, or will be, as applicable, made by such parties, and not by or on behalf of the management of the Company. Proxies may be solicited by proxy circular, mail, telephone, email or other electronic means, as well as by newspaper or other media advertising and in person by managers, directors, officers and employees of Apollo Capital who will not be specifically remunerated therefor. In addition, Apollo Capital may solicit proxies by way of public broadcast, including press release, speech or publication and any other manner permitted under applicable Canadian laws, and may engage the services of one or more agents and authorize other persons to assist it in soliciting proxies on their behalf. Apollo Capital has entered into an agreement with Carson Proxy Advisors ("Carson Proxy") for solicitation and advisory services in connection with the solicitation of proxies for the Meeting, for which Carson Proxy will receive a fee not to exceed $250,000, together with reimbursement for reasonable and out-of-pocket expenses. Apollo Capital has also engaged Gasthalter & Co. LP ("G&Co") to act as communications consultant to provide Apollo Capital with certain communications, public relations and related services, for which G&Co will receive a minimum fee of US$75,000 in addition to a performance fee of US$250,000 in the event that Apollo Capital's nominees make up a majority of the Board following the Annual Meeting, plus excess fees, related costs and expenses. No member of Apollo Capital nor any of their associates or affiliates has or has had any material interest, direct or indirect, in any transaction since the beginning of the Company's last completed financial year or in any proposed transaction that has materially affected or will or would materially affect the Company or any of the Company's affiliates. No member of Apollo Capital nor any of their associates or affiliates has any material interest, direct or indirect, by way of beneficial ownership of securities or otherwise, in any matter to be acted upon at the Annual Meeting, other than setting the number of directors, the election of directors, the appointment of auditors and the approval of the ordinary resolution approving, among other things, the Company's amended and restated equity incentive plan dated May 8, 2025 and the unallocated awards available thereunder. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward‐looking statements. All statements contained in this filing that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward‐looking statements. These statements are based on current expectations of Apollo Capital and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. All forward-looking statements contained herein are made only as of the date hereof and Apollo Capital disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which Apollo Capital hereafter becomes aware, except as required by applicable law. Hashtags: #ShareholderActivism #CorporateGovernance #InvestorProtection #Investor Alert #Investor Fraud #FinancialRegulation #CorporateCrime #FinancialCrime #HomelandSecurity #DHS #OpioidCrisis #OpioidEpidemic #OpioidLitigation #OpioidVictims #BMO #DEA #ONDCP
The Market Online
3 days ago
- Business
- The Market Online
Cannabis Report: Inhaling and exhaling
This Canadian pharmaceutical company has made headlines again—this time for both its scientific strides with a cannabis inhaler and boardroom conflicts. A proxy battle is brewing with a dissident shareholder, raising concerns about governance and financial stability. Source: MediPharm Labs. Click here for the full story. 1 | Canopy Growth trims losses, eyes profit in 2026 2 | Diversify away from cannabis retail with this technology stock 3 | Charlotte's Web unravels new approach to hemp-derived THC Top Cannabis Stocks May 23 to May 29, 2025 1. | 4,701 views | Tilray Brands Inc. 2. | 4,276 views | Medipharm Labs Corp. 3. | 3,421 views | Curaleaf Holdings Inc. 4. | 2,504 views | Canopy Growth Corp. 5. | 396 views | Organigram Holdings Inc. 6. | 392 views | Aurora Cannabis Inc. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
Yahoo
4 days ago
- Business
- Yahoo
MediPharm Labs Responds to Fabricated Allegations from Dissident Shareholder
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE:MLZ) ('MediPharm' or the 'Company'), a pharmaceutical company specialized in precision-based cannabinoids, today confirmed that the Company is aware of the news release issued by Apollo Technology Capital Corporation ('Apollo') on May 29, 2025 making baseless allegations of malfeasance against the Company. These patently false allegations have been intentionally or recklessly fabricated as part of the campaign of misinformation employed by Apollo and its Chairman and CEO, Regan McGee in their bid to distract and mislead the Company's shareholders and parlay their 3% ownership position into total control of MediPharm's Board of Directors. MediPharm recently completed a full year-end audit with MNP LLP and received a clean audit opinion dated March 30, 2025, as it has in all previous fiscal years since becoming a public company. Public companies are not required to audit their quarterly financial results nor is it market practice to do so. The Company complies fully with International Financial Reporting Standards and its continuous disclosure obligations pursuant to Canadian securities law. MediPharm has commenced legal proceedings this week to address, in part, material misstatements Apollo has been making and has asked the court to award its costs. About MediPharm Labs Founded in 2015, MediPharm Labs specializes in the development and manufacture of purified, pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients (API) and advanced derivative products utilizing a Good Manufacturing Practices 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. In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a commercial-scale domestic Good Manufacturing Practices License for the extraction of multiple natural cannabinoids. This GMP license was the first step in the Company's current foreign drug manufacturing site registration with the US FDA. In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical Australia PTY Ltd. and Beacon Medical Germany GMBH. This acquisition also included Harvest Medical Clinics in Canada which provides medical cannabis patients with Physician consultations for medical cannabis education and prescriptions. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates. Shareholder Voting Assistance: If you have any questions or require any assistance in executing your GREEN proxy or voting instruction form, please call Sodali & Co at: North American Toll-Free Number: 1.888.777.2059Outside North America, Banks, Brokers and Collect Calls: 1.289.695.3075Email: assistance@ American Toll-Free Facsimile: 1.877.218.5372 For up-to-date information and assistance in voting please visit: Investor Contact: MediPharm Labs Investor RelationsTelephone: +1 416.913.7425Email: investors@ Media Contact: John VincicOakstrom Advisors+1 (647) 402-6375john@ Cautionary Note Regarding Forward-Looking Information: This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate to, among other things, the outcome of litigation commenced by MediPharm, and any outcomes resulting from the circumstances and information cited herein. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the inability of MediPharm Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm Labs' continuous disclosure filings, available on the SEDAR+ website at There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Market Online
4 days ago
- Business
- The Market Online
Buzz on the Bullboards: Bombardier vs Boeing, MediPharm 'under attack'
Even with Wall Street operating on a shortened schedule due to the Memorial Day holiday, the TSX has shown resilience—hitting fresh highs twice this week. This bullish momentum underscores the strength and diversity of Canadian equities, particularly in sectors like pharmaceuticals, aerospace, and advanced manufacturing. Among the standout performers are three companies capturing investor attention with bold moves and strategic milestones: MediPharm Labs, Bombardier, and PyroGenesis. MediPharm Labs (TSX:LABS, Forum), a pharmaceutical business in precision-based cannabinoids, has announced the commencement of production for its novel cannabis metered dose inhalers (MDIs) aimed at the European Union and United Kingdom markets. These discreet, smoke-free devices offer patients a fast-acting, pharmaceutical-grade alternative to traditional cannabis consumption methods. What the 'Buzz' Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up. Get 'Buzz on the Bullboards' delivered to your inbox every third Thursday! Buzz on the Bullboards | Sign Up Here Manufactured under stringent Good Manufacturing Practices (GMP), the MDIs are distributed exclusively by Blackpoint Ltd., MediPharm's regional partner. The company has already launched the product in Canada and anticipates further rollouts in Australia, the EU, and the UK by Q3 2025. This expansion comes on the heels of a $4.5 million cash sale of its Hope facility, a move aimed at streamlining operations. However, internal turbulence looms. A proxy battle with dissident shareholder Apollo Technology Capital Corp. has raised concerns about governance and financial stability. Despite these headwinds, MediPharm reported an 11 per cent revenue increase in Q1, signaling operational momentum amid strategic uncertainty. MediPharm published a response, calling Apollo Capital 'dissidents' and they 'do not believe they are the well-intentioned and successful business leaders they portray themselves to be', saying the company is currently 'under attack'. Bombardier (TSX:BBD, Forum) has reached a major milestone in its Global 8000 program, with the first production aircraft completing its inaugural flight on May 16. Departing from the company's Aircraft Assembly Centre in Mississauga, Ontario, the flight marks a pivotal step toward the aircraft's entry into service in the second half of 2025. The Global 8000 is positioned as the next evolution of the Global 7500, offering a top speed of Mach 0.94 and an industry-leading range of 8,000 nautical miles. It's designed to connect global cities like Singapore to Los Angeles and London to Perth without refueling, while also offering access to shorter runways typically reserved for smaller jets. Inside, the aircraft redefines luxury with four true living spaces, a dedicated crew rest area, and the lowest cabin altitude in its class. With over 250,000 flight hours logged by the Global 7500, Bombardier's latest innovation is poised to capture a significant share of the ultra-long-range business jet market. Advanced materials innovator PyroGenesis (TSX:PYR, Forum) has secured a major endorsement from aerospace giant Boeing (NYSE:BA, Forum). The company's Ti64 'coarse' metal powder—used in additive manufacturing—has been officially approved and added to Boeing's qualified supplier list. This qualification is a significant validation of PyroGenesis' proprietary plasma atomization technology, which produces high-purity metal powders for 3D printing in aerospace and defense applications. The approval opens the door to broader adoption of PyroGenesis' materials in Boeing's manufacturing ecosystem, potentially unlocking new revenue streams and long-term contracts. As the aerospace industry increasingly turns to additive manufacturing for lightweight, high-performance components, PyroGenesis is well-positioned to benefit from this structural shift. These three TSX-listed companies—MediPharm Labs, Bombardier, and PyroGenesis—are each making headlines for different reasons, from product innovation and international expansion to strategic partnerships and shareholder activism. While the TSX continues to climb, investors would be wise to dig deeper into these stories, assess the risks and opportunities, and consider how these developments align with their investment goals. As always, thorough due diligence remains the cornerstone of smart investing. For previous editions of Buzz on the Bullboards, click here. Join the discussion: Find out what everybody's saying about these stock on Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
7 days ago
- Business
- The Market Online
What is going on with MediPharm Labs?
MediPharm Labs (TSX:LABS) has commenced production for its novel cannabis metered dose inhalers (MDIs) tailored for the European Union and United Kingdom markets these inhalers are manufactured to global pharmaceutical standards and will be distributed exclusively by Blackpoint Ltd., MediPharm's dedicated U.K. sales and distribution partner MediPharm has already introduced the product in Canada's adult use and wellness and medical channels and anticipates launches in Australia, the E.U., and the U.K. in Q3 2025 MediPharm Labs stock (TSX:LABS) last traded at $0.07 MediPharm Labs (TSX:LABS) has announced the commencement of production for its novel cannabis metered dose inhalers (MDIs) tailored for the European Union and United Kingdom markets. In a media release, the pharmaceutical company specializing in precision-based cannabinoids explained that these inhalers are manufactured to global pharmaceutical standards and will be distributed exclusively by Blackpoint Ltd., MediPharm's dedicated sales and distribution partner in the region. The discreet, smoke-free inhalers can offer patients a fast-acting alternative to traditional cannabis consumption methods, delivering precise doses of cannabis active pharmaceutical ingredients (APIs) without combustion or heating. Produced under strict Good Manufacturing Practices (GMP), the MDIs incorporate GMP-qualified components and excipients, working to ensure pharmaceutical-grade quality and consistency. MediPharm has already introduced the product in Canada's adult use and wellness and medical channels and anticipates launches in Australia, the E.U., and the U.K. in Q3 2025. As part of the exclusive agreement, MediPharm Labs will serve as the sole supplier and manufacturer of the cannabis MDIs for Blackpoint. The partnership includes minimum purchase obligations, ensuring a consistent supply across the designated markets. MediPharm aims to leverage its established relationships and distribution networks to expand its footprint in the rapidly growing European medicinal cannabis sector, which Prohibition Partners estimates will reach a market value of €834 million in 2024. This announcement follows a significant milestone for the company, as MediPharm recently advanced toward the $4.5 million cash sale of its Hope facility. However, the company also faces internal challenges. Shareholders have been alerted to allegations made against a a dissident shareholder in multiple litigation filings. Apollo Capital has issued a warning to shareholders, citing concerns over continued value destruction and potential insolvency risks following what it described as 'disastrous' Q1 financial results. Despite these concerns, MediPharm reported an 11 per cent revenue increase in revenue for the quarter. MediPharm develops and manufactures pharmaceutical-quality cannabis concentrates, active pharmaceutical ingredients and advanced derivative products. MediPharm Labs stock (TSX:LABS) last traded at $0.07. Though up 25.00 per cent since the year began, the stock has lost 6.25 per cent since this time last year. Join the discussion: Find out what everybody's saying about this medical cannabis stock's Brazilian expansion on the MediPharm Labs Corp. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
