MediPharm Labs Positioned to Serve Growing U.S. Pharmaceutical and Clinical Research Demand Following Cannabis Rescheduling

• On April 22, 2026, the U.S. Department of Justice and Drug Enforcement Administration’s final order rescheduling FDA-approved cannabis drug products and state-licensed medical cannabis from Schedule I to Schedule III of the Controlled Substances Act took effect.
• MediPharm Labs has already supplied product for over 10 active clinical trials, including a U.S. National Institutes of Health funded study, and has completed multiple API and clinical trial material shipments to the United States.
• MediPharm Labs is ready today to support expanded U.S. clinical research and pharmaceutical development through its GMP US FDA site registration and Health Canada Drug Establishment License (“DEL”).
  

TORONTO, April 27, 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, welcomes the implementation of the U.S. final order rescheduling certain cannabis products from Schedule I to Schedule III of the Controlled Substances Act (the “Order”). The Order took effect April 22, 2026. It recognizes the medical use of cannabis and is anticipated to materially reduce barriers to U.S. clinical research and pharmaceutical development.

MediPharm Labs is well positioned to benefit from this change through its FDA site registration, DEL, proven experience supplying clinical trial materials to the United States, and established presence in the world’s most regulated medical cannabis markets.

“MediPharm Labs is not approaching the U.S. market for the first time,” said Greg Hunter, Interim CEO and CFO of MediPharm Labs. “Since 2023, we have shipped pharmaceutical-grade cannabis product into the United States multiple times under Schedule I conditions. We also supply medical cannabis into some of the most demanding regulatory environments in the world, including Germany, the United Kingdom, Australia, France, and Brazil. This Order takes U.S. cannabis policy from anticipation to reality, and MediPharm Labs has the track record to support U.S. researchers and pharmaceutical companies evaluating compliant API and clinical trial supply partners.”

Rescheduling Will Accelerate U.S. Cannabis Clinical Research and Pharmaceutical Development

Reclassifying cannabis to Schedule III removes barriers that have long limited U.S. clinical trials. Researchers publish thousands of peer-reviewed cannabis studies annually, yet full clinical trials have remained scarce due to Schedule I restrictions and the lack of federally compliant cannabis supply.

The Order is expected to accelerate U.S. research by enabling access to standardized medical-grade cannabis from registered suppliers. For MediPharm Labs, this could mean an expanded pipeline of U.S. researchers and pharmaceutical companies advancing clinical trials and evaluating compliant active pharmaceutical ingredient (“API”) suppliers. The Order also creates a clearer regulatory pathway for FDA-approved drug products containing cannabis, which is directly aligned with MediPharm Labs pharmaceutical manufacturing strategy.

MediPharm Labs Has Already Shipped Pharmaceutical Cannabis Product into the United States

MediPharm Labs completed its first shipment of pharmaceutical cannabis product to the United States in 2023 and has made additional shipments in subsequent years. These shipments were completed under Schedule I classification, which required the Company to navigate the most restrictive federal controls applied to any substance under U.S. law, leveraging its U.S. Food and Drug Administration (“FDA”) site registration and U.S. DEA import permits.

MediPharm Labs has supplied product for over 10 active clinical trials, including the U.S. National Institutes of Health funded LiBBY study with the Keck School of Medicine of University of Southern California. To the Company’s knowledge, this was the first Phase 2 clinical trial of its kind with API sourced from a Canadian cannabis producer. With Schedule III now in effect, the regulatory pathway MediPharm Labs has already successfully navigated may become less restrictive for future U.S. shipments.

Institutional Pharmaceutical and Biotech Investment Potential

With Schedule III now in effect for FDA-approved cannabis drug products and state-licensed medical cannabis, institutional investors who were previously restricted by “Schedule I trafficking” clauses may now be able to consider research-oriented cannabis companies. This could result in increased interest in pharmaceutical cannabis companies, including MediPharm Labs, as regulatory barriers evolve. There could also be renewed interest in research investments from pharmaceutical firms that previously avoided cannabis due to its previously higher-risk classification.

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 License for the extraction of multiple natural cannabinoids. The Company carries out its operations in compliance with all applicable laws in the countries in which it operates.

In 2023, MediPharm Labs acquired VIVO Cannabis Inc. which expanded MediPharm Lab’s reach to medical patients in Canada via Canna Farms medical ecommerce 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.

Website: www.medipharmlabs.com

For further information, please contact:

MediPharm Labs Investor Relations

Email: investors@medipharmlabs.com

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, the implementation of the U.S. rescheduling Order that took effect April 22, 2026 and its impact on the pharmaceutical and medical cannabis industry; the outcome and timing of the expedited DEA administrative hearing commencing June 29, 2026 and any broader rescheduling of cannabis that may result; the expansion of U.S. based research on medical cannabis products and the Company’s ability to participate in that expansion; the expansion of U.S. based pharmaceutical development opportunities and special access medical cannabis programs; future clinical research opportunities and partnerships with U.S. researchers, pharmaceutical companies and biotech partners; the status, FDA review, and future progress of MediPharm Labs submitted Drug Master File for CBD active pharmaceutical ingredient; MediPharm Labs ability to leverage its pharmaceutical credentials, FDA site registration, international supply capabilities and regulatory experience into expanded U.S. commercial activity; the renewal of institutional investor interest in research-oriented pharmaceutical cannabis companies; future marketable pharmaceutical products; future Canadian and international commercial products that leverage MediPharm Labs pharmaceutical expertise; and the Interim Chief Executive Officer’s ability to deliver on MediPharm Labs commitments and growth plans. 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 Labs to obtain adequate financing; the delay or failure to receive regulatory approvals; potential legal challenges to the implementation of the U.S. rescheduling Order; the outcome of the DEA administrative hearing scheduled to begin June 29, 2026; MediPharm Labs competitive licensing and FDA site inspection and registration; and other factors discussed in MediPharm Labs’ 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.