MedReleaf Corp. (TSX:LEAF) (OTC: MEDFF) today announced that it has received certification under the European Medical Agency's Good Manufacturing Practices ("EU GMP") Standards for its Markham facility from authorities in Cologne, Germany to make a first export of its products into Germany and has completed its first shipment of medical cannabis to Cannamedical Pharma GmbH ("Cannamedical").
"With the completion of our first shipment to Germany and ongoing shipments scheduled, MedReleaf is already among the leading exporters of cannabis to the European Union," said Neil Closner, CEO of MedReleaf. "Demand for medical cannabis in Germany far exceeds available supply, and with production, processes and requisite certifications for commercial scale exports in place, we are well positioned to expand our footprint in the EU and drive expanded access for patients around the world to MedReleaf's premium medical cannabis products."
Cannamedical Pharma is a pioneer in the German medical cannabis industry and a leading medical cannabis distributor to pharmacies in Germany with the fastest growing network of more than 2,100 cannabis distributing pharmacies across the country.
"We found a strong Canadian partner in MedReleaf to deliver high grade medical Cannabis products for the German market, that fulfill Cannamedical's quality standards. Proving Cannamedical's ability to import medical cannabis from outside of the European Union strengthens our plans for future growth within the European Union," said David Henn, CEO of Cannamedical Pharma. "Working together to help MedReleaf receive its EU GMP certification also underlines our high level of professionalism."
Germany is poised to become the largest federally regulated medical cannabis market in the world, with a population of over 82 million, approximately 89% of whom are covered by the public health insurance program and the remainder covered by private insurance plans. The current medical cannabis laws in Germany came into effect on March 10, 2017 and without domestic production, cannabis is being imported to meet the rapidly growing demand.
About MedReleaf (TSX:LEAF)
Canada's most awarded licensed producer, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the production of industry leading, top-quality cannabis. Sourced from around the world and carefully cultivated in one of two state-of-the-art ICH-GMP and ISO 9001 certified facilities in Ontario, with a third facility currently in development, a full range of premium MedReleaf products are delivered to the global medical market. We serve the therapeutic needs of patients seeking safe, consistent and effective medical cannabis and provide a compelling product offering for the adult-use recreational market.
For more information on MedReleaf, its products, research and how the company is helping patients #livefree, please visit MedReleaf.com or follow @medreleaf
About Cannamedical Pharma GmbH
Pioneering in the German cannabis industry, Cannamedical has been one of the first to specialize in highly efficient pharma distribution and marketing in accordance with the narcotics regulations. The privately-owned, GDP certified company holds all licenses required for medical cannabis import to Germany, distribution and export within the European Union. Cannamedical, as independent wholesaler has expertise in cannabis products and is serving an established and growing network of pharmacies all around the country. Cannamedical is ideally positioned in the market with the ability to deliver all orders in Germany within 24 hours.
Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation which are based upon MedReleaf's current internal expectations, estimates, projections, assumptions and beliefs and views of future events. Forward-looking information can be identified by the use of forward-looking terminology such as "expect", "likely", "may", "will", "should", "intend", "anticipate", "potential", "proposed", "estimate" and other similar words, including negative and grammatical variations thereof, or statements that certain events or conditions "may", "would" or "will" happen, or by discussions of strategy. Forward-looking information include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of fact.
Any forward-looking information speaks only as of the date on which it is made, and, except as required by law, MedReleaf does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for MedReleaf to predict all such factors. When considering these forward-looking statements, readers should keep in mind the risk factors and other cautionary statements in MedReleaf's Annual Information Form dated June 18, 2018 and filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com. The risk factors and other factors noted in MedReleaf's Annual Information Form could cause actual events or results to differ materially from those described in any forward-looking information.
SOURCE MedReleaf Corp.
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