MediPharm Labs Converts All Tilray Shares to Cash
TORONTO – MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) a company specialized in precision-based cannabinoids, is pleased to announce it has now received $7.27 Million in gross cash proceeds from the settlement agreement announced on October 2, 2023 (the “Settlement Agreement”) to resolve a claim in connection with a commercial agreement dispute. Additional consideration includes products and services described below. On October 2, 2023 MediPharm and Tilray came to a mutually agreeable resolution and established a long-term supply relationship. Following the Settlement Agreement, MediPharm has now received $7.27 Million in cash consisting of: $3 Million cash payment. 1,573,152 total Tilray common shares that have been sold for gross proceeds of $4.27 Million. Non-cash elements also included in the Settlement Agreement are ongoing product considerations: § $1,000,000 in Tilray products (including but not restricted to high-quality flower and extractabl...