MediPharm Labs Corp. has provided an update with respect to the previously announced sale of its facility in Napanee, Ontario to be completed pursuant to the terms of a share purchase agreement (the "Purchase Agreement") entered into with Kensana Health Inc through a disposition of all of the Company's indirect equity interests in its wholly-owned subsidiary ABcann Medicinals Inc. to Kensana Health for $5.5 million in cash.
MediPharm Labs and Kensana Health continue to advance towards closing of the Transaction and have agreed to extend the outside date for closing as provided in the Purchase Agreement to January 31, 2025. Completion of the Transaction remains subject to customary closing conditions and receipt of all necessary approvals, as applicable. Operations continue at the Napanee Facility without disruption. For further details regarding the Transaction, please see the Company's press release dated December 17, 2024.
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MediPharm Labs
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