MediPharm Labs Receives Award for CBD Brand of the Year

• For the second year MediPharm Labs' pharma-quality CBD dominant oil line has been awarded the CBD Brand of the year by KIND Magazine.

• MediPharm Labs was also awarded the CBN Product of the Year and the Kindest Health and Wellness Brand of the Year Awards.

• MediPharm Labs' wellness products, lead by our CBD oils, have seen steady revenue and popularity growth in 2022, as it's second full year in market.

BARRIE, ON, Dec. 8, 2022 /PRNewswire/ - MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) ("MediPharm Labs" or the "Company") a pharmaceutical company specialized in precision-based cannabinoids, is pleased to announce the recognition of CBD brand of the year from Kind Magazine, as voted by front line retail staff across Canada.

"MediPharm Labs is honoured to be selected as CBD Brand of the Year for the second year in a row. The MediPharm Labs CBD SKUs lead our wellness line of products which is produced to a pharmaceutical quality standard in a GMP licensed facility. The addition of CBN Product of the Year and Kindest Health and Wellness Brand Award shows our focus on the wellness segment is resonating with consumers across Canada" said David Pidduck, CEO, MediPharm Labs. "The award being voted by front line staff of cannabis retailers is a testament to our pharma-quality brand to fulfill the wellness consumers needs."

Kind Magazine is published across Canada and distributed in cannabis retail stores. The Kind Awards were determined by a panel of over 300 frontline cannabis retail staff. MediPharm Labs has built a reputation for pharma-quality CBD, THC, CBG and CBN oils, which consumers seek for wellness solutions. The advanced quality manufacturing process of MediPharm Labs has allowed us to achieve the number two spot in sales in the oil category, according to HiFyre data.

The Company looks forward to launching further innovative CBD and other wellness products to improve revenue from Canadian distribution. As well act as proof of concept for international distribution and large pharmaceutical and natural health product contract manufacturing service, in accordance with their unique GMP Drug Establishment and Natural Health Product manufacturing licenses.

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 with five primary extraction lines for delivery of pure, trusted and precision-dosed cannabis products for its customers. Through its wholesale and white label platforms, MediPharm Labs formulates, develops (including through sensory testing), processes, packages and distributes cannabis extracts and advanced cannabinoid-based products to domestic and international markets.

In 2021, MediPharm Labs received a Pharmaceutical Drug Establishment License from Health Canada, becoming the only company in North America to hold a domestic Good Manufacturing License for the extraction of natural cannabinoids.

Website: www.medipharmlabs.com

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, statements regarding: success of wellness sector; future revenue growth; and sales of CBD products. 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' filings, available on the SEDAR website at www.sedar.com. 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 change.

SOURCE MediPharm Labs Corp.