TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) -- MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ) ("MediPharm" or the "Company"), a pharmaceutical company specialized in precision-based cannabinoids, today announced that the Superior Court of Justice - Ontario (Commercial List) (the "Court") has fully dismissed the statement of claim (CV-25-00742450-0000) (the "Claim") issued by Apollo Technology Capital Corporation ("Apollo"), Nobul Technologies Inc. ("Nobul"), and Regan McGee (together with Apollo and Nobul, the "Plaintiffs") on May 5, 2025, against MediPharm's Chief Executive Officer, David Pidduck, and Chairman of the Board, Chris Taves.
Further to the Company's press release dated May 28, 2025, in which the Company announced that the Plaintiffs agreed to dismiss the frivolous $50 million conflict of interest claim against the Company's litigation counsel, in its entirety on a with-prejudice basis (the "May 2025 Court Dismissal"), MediPharm is pleased to announce that the Court has now granted the anti-SLAPP motion brought by Mr. Pidduck and Mr. Taves under the "anti-SLAPP" provisions of section 137.1(3) of the Courts of Justice Act (Ontario) (the "Motion"), dismissing the remaining libel allegations against them in full.
The Plaintiffs sought, amongst other things, damages in the amount of $50 million against Mr. Pidduck and Mr. Taves for defamation relating to a letter that was sent to a former executive of a MediPharm subsidiary working alongside Apollo on April 29, 2025 (the "April 29 Letter"), in connection with the proxy contest initiated by the Plaintiffs. In making its decision to grant the Motion, and dismiss all remaining aspects of the Claim in full, the Court noted the following:
"I find that the April 29 Letter is typical of a lawyer's letter that one would expect in these circumstances."
"In my view there is ample evidence confirming the truth of the assertions/concerns in the April 29 Letter and, again, no evidence to the contrary."
"I find that the plaintiffs have utterly failed to meet the onus required of them, and I find that the defendants have on balance established valid defences in the case of each of the four defences they assert."
"The plaintiffs have produced no evidence that the April 29 Letter caused any harm, let alone the "serious harm" that they must show under s. 137.1(4)(b)."
The successful grant of the Motion by the Court today follows both the May 2025 Court Dismissal, and the subsequent dismissal by the Court of the application issued by Apollo and Nobul against the Company on May 16, 2025 relating to, amongst other things, appointing a third-party independent chair to preside over the Annual and Special Meeting of Shareholders of the Company on June 16, 2025 (the "Application"). Costs that are owed to MediPharm as a result of the full dismissal of the Application, have yet to be paid by Apollo and Nobul.
MediPharm also wishes to alert its shareholders that certain prior press releases related to Apollo were amended and disseminated under the Company's name and/or filed on its SEDAR+ profile without its authorization, and consent on Friday, November 7, 2025 and Monday, November 10th, 2025 (the "Unauthorized Press Releases"). The Unauthorized Press Releases relate to press releases previously disseminated by the Company on May 13, 2025, and May 15, 2025 (the "Actual Press Releases"). MediPharm is actively working with the relevant third party press release distribution platform to resolve this matter.
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.
In 2023, MediPharm acquired VIVO Cannabis Inc., which expanded MediPharm's reach to medical patients in Canada via Canna Farms medical ecommerce platform, and in Australia and Germany through Beacon Medical Australia PTY Ltd. and Beacon Medical Germany 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
Investor Contact:
MediPharm Labs Investor Relations
Telephone: +1 416.913.7425
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, costs to be paid to MediPharm relating to the dismissal of the Application. 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; and other factors discussed in MediPharm Labs' continuous disclosure 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.
