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MediPharm Labs Awarded Payment Of $9.8M By Ontario Court Of Justice
MediPharm Labs Awarded Payment Of $9.8M By Ontario Court Of Justice
MediPharm Labs Corp. (OTCQX:MEDIF) (TSX:LABS) (FSE: MLZ) a pharmaceutical company specialized in precision-based cannabinoids, has been awarded a favorable summary of judgment in the Ontario Court of Justice in connection with a supply agreement dispute in the amount of $9.8 million.
On January 24, 2020, MediPharm Labs filed a statement of claim in the Ontario Superior Court of Justice against one of its long-term customers of cannabis concentrates. The claim related to, among other things, the payment of outstanding amounts due to the company for products shipped to and received by the customer and deposits owed to the company for committed amounts not yet shipped.
On February 26, 2020, the defendant in the claim filed a statement of defense and counterclaim. The Ontario Court of Justice has dismissed this counterclaim.
This summary judgment and subsequent payment, and recent conditional sale of the company's Australian facility, will add over $16 million in cash, strengthening the balance sheet.
David Pidduck, CEO of MediPharm Labs stated, "In the early days of the nascent cannabis industry many companies faced risks in collecting large receivables. This summary judgment will allow us to collect this $9.8 million, which will dramatically strengthen our balance sheet. MediPharm now has many customers across multiple channels and our accounts receivable are healthy. The collection of this cash will significantly improve MediPharm's cash position and give us flexibility to consider M&A opportunities."
Photo: Benzinga; Sources: courtesy of AJEL, lindsayfox via Pixabay
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MediPharm Labs Corp. (OTCQX:MEDIF) (TSX:LABS) (FSE: MLZ) a pharmaceutical company specialized in precision-based cannabinoids, has been awarded a favorable summary of judgment in the Ontario Court of Justice in connection with a supply agreement dispute in the amount of $9.8 million.
醫療藥業實驗室公司(多倫多證券交易所股票代碼:MEDIF)(多倫多證券交易所股票代碼:LABS)(多倫多證券交易所股票代碼:MLZ)是一家專門生產精準大麻類化合物的製藥公司,已經被授予了有利的判決摘要在安大略省法院,與一宗供應協議糾紛有關,金額為$9.8 百萬.
On January 24, 2020, MediPharm Labs filed a statement of claim in the Ontario Superior Court of Justice against one of its long-term customers of cannabis concentrates. The claim related to, among other things, the payment of outstanding amounts due to the company for products shipped to and received by the customer and deposits owed to the company for committed amounts not yet shipped.
2020年1月24日,MediPharm Labs向安大略省高等法院提交了一份針對其大麻濃縮液的長期客户的索賠聲明。索賠除其他事項外,涉及向該公司支付應付給該客户和由該客户收到的產品的未付款項,以及就尚未發貨的承諾款項向該公司支付的保證金。
On February 26, 2020, the defendant in the claim filed a statement of defense and counterclaim. The Ontario Court of Justice has dismissed this counterclaim.
2020年2月26日,訴狀中的被告提交了答辯書和反訴書。安大略省法院駁回了這一反訴。
This summary judgment and subsequent payment, and recent conditional sale of the company's Australian facility, will add over $16 million in cash, strengthening the balance sheet.
這項簡易判決和隨後的付款,以及最近有條件出售該公司在澳大利亞的設施,將增加1600多萬美元的現金,加強資產負債表。
David Pidduck, CEO of MediPharm Labs stated, "In the early days of the nascent cannabis industry many companies faced risks in collecting large receivables. This summary judgment will allow us to collect this $9.8 million, which will dramatically strengthen our balance sheet. MediPharm now has many customers across multiple channels and our accounts receivable are healthy. The collection of this cash will significantly improve MediPharm's cash position and give us flexibility to consider M&A opportunities."
大衞·皮達克在大麻行業剛剛起步的時候,許多公司都面臨着收取大筆應收賬款的風險。這項簡易判決將使我們能夠收回這980萬美元,這將極大地加強我們的資產負債表。MediPharm現在擁有多個渠道的許多客户,我們的應收賬款狀況良好。收集這些現金將顯著改善MediPharm的現金狀況,並使我們能夠靈活地考慮併購機會。
Photo: Benzinga; Sources: courtesy of AJEL, lindsayfox via Pixabay
圖片來源:阿杰爾,lindsayfox通過pixabay提供
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
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