MediPharm Labs Reminds Shareholders of Upcoming Annual and Special Meeting

• Annual and Special Meeting to be held virtually on Wednesday, June 17, 2026 at 11:00 a.m. (Eastern Time).
• The Board of Directors recommends shareholders vote FOR all director nominees and resolutions, before the 11:00 a.m. (Eastern Time) deadline on Monday, June 15, 2026.
• Shareholders who have questions or need assistance voting their shares may contact TSX Trust Company at 1-866-600-5869 or tsxtis@tmx.com.
  

TORONTO, May 28, 2026 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) (“MediPharm”, “MediPharm Labs” or the “Company”), a pharmaceutical company specialized in precision-based cannabinoids, today reminded shareholders that the management information circular (the “Circular”) and related materials for its upcoming Annual and Special Meeting of Shareholders (the “Meeting”) have been filed and are available on the Company’s SEDAR+ profile at www.sedarplus.ca and at https://docs.tsxtrust.com/2120.

“This Meeting comes at an important time for MediPharm Labs as we continue to execute on our strategy of disciplined, profitable growth across regulated medical cannabis markets,” said Greg Hunter, Interim CEO and CFO of MediPharm Labs. “In the first quarter, we delivered positive adjusted EBITDA, strong gross margins, and continued international expansion, while maintaining a virtually debt-free balance sheet. We encourage all shareholders to review the meeting materials and vote their shares as we continue building long-term value across our international and domestic medical platform.”

Shareholder Meeting Details

The Meeting will be held virtually on Wednesday, June 17, 2026 at 11:00 a.m. (Eastern Time) via live audio webcast at https://virtual-meetings.tsxtrust.com/1929. The meeting password to join is case sensitive – medipharm2026. Full details of the matters to be considered, including the receipt of the 2025 audited financial statements, the election of directors and the appointment of MNP LLP as auditor, are set out in the Circular.

The Annual General Meeting has been designated a Special Meeting as the Company has proposed decreasing the number of Board Members from seven to five.

The Board of Directors recommends that shareholders vote FOR all director nominees and meeting resolutions. The deadline for voting is 11:00 a.m. (Eastern Time) on Monday, June 15, 2026.

Recent Business Highlights

As detailed in the Company’s first quarter 2026 results released on May 13, 2026, recent highlights include:

• Q1 2026 net revenue of $9 million with gross margins of 37% and positive adjusted EBITDA⁽¹⁾
• Q1 2026 operating expenses decreased 28% compared to Q4 2025
• 14% sequential revenue growth in Germany in Q1 2026, supported by expansion of the Beacon Medical and Wildlife product portfolios
• Inaugural Beacon branded flower shipment to New Zealand completed in Q1 2026
• Additional purchase orders secured in France and Brazil, with manufacturing underway in Q2 2026
• Cash balance of $9.9 million as at March 31, 2026, with the Company remaining virtually debt-free and holding outright ownership of two licensed production facilities

Shareholders interested in additional context on the Company’s recent performance and strategy may access a replay of the Q1 2026 earnings call webcast at https://events.q4inc.com/attendee/116870256/guest.

(1) This is a non-IFRS reporting measure. See “Non-IFRS Measures” below.

Shareholder Questions and Voting Assistance

Shareholders who have questions or require assistance voting their shares may contact the Company’s transfer agent and registrar:

TSX Trust Company
Toll Free (North America): 1-866-600-5869
Email: tsxtis@tmx.com

Shareholders who hold their Common Shares through a bank, broker or other intermediary should follow the voting instructions provided by their intermediary. Shareholders may also request a paper copy of the meeting materials free of charge by contacting TSX Trust Company using the details above; requests should be received by June 8, 2026 to allow time to vote in advance of the Meeting.

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. MediPharm Labs also has EU-GMP certification, ANVISA GMP certification from Brazil and TGA compliance in Australia.

In 2023, MediPharm acquired VIVO Cannabis Inc. which expanded MediPharm Labs’ reach to medical patients in Canada via Canna Farms medical e-commerce platform, and in Australia and Germany through Beacon Medical PTY and Beacon Medical 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.

Website: www.medipharmlabs.com

For further information, please contact:
MediPharm Labs Investor Relations
Email: investors@medipharmlabs.com

Non-IFRS Measures
This press release contains references to “Adjusted EBITDA” which is a non-IFRS financial measure. Management believes that this supplementary non-IFRS financial measure provides useful additional information related to the operating results of the Company. This non-IFRS financial measure is not recognized under IFRS and, accordingly, users are cautioned that this measure should not be construed as an alternative to net income (loss) and gross profit determined in accordance with IFRS as measures of profitability or as alternatives to the Company’s IFRS-based Financial Statements. The non-IFRS measure presented may not be comparable to similar measures presented by other issuers. Adjusted EBITDA is a measure of the Company’s overall financial performance and is used as an alternative to earnings or income in some circumstances. Adjusted EBITDA is essentially net income (loss) with interest, taxes, depreciation and amortization, non-cash adjustments and other unusual or non-recurring items added back in. Adjusted EBITDA has limitations as an analytical tool as it does not include depreciation and amortization expense, interest income and expense, finance fees, gain in revaluation of derivative liabilities, taxes, government grants including rent and wage subsidies, one-off transactions, impairment losses on inventory and on fixed assets and intangibles, write down of deposits and share-based compensation. Because of these limitations, Adjusted EBITDA should not be considered as the sole measure of the Company’s performance and should not be considered in isolation from, or as a substitute for, analysis of the Company’s results as reported under IFRS. Adjusted EBITDA, as used within the Company’s disclosure, may not be directly comparable to Adjusted EBITDA used by other reporting issuers. Adjusted EBITDA does not have a standardized meaning and the Company’s method of calculating such non-IFRS measure may not be comparable to calculations used by other companies bearing the same description.

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, statements regarding the holding of the Meeting and the matters to be considered at the Meeting; the Company’s strategy of disciplined, profitable growth across regulated medical cannabis markets; management’s ability to continue to grow international medical revenue and reduce costs to drive growth and long-term value for the Company; and MediPharm Labs ability to continue to supply international medical cannabis markets. 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 to obtain adequate financing; the delay or failure to receive regulatory approvals; and other factors discussed in MediPharm’s filings, available on the SEDAR+ website at www.sedarplus.ca. 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.

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