TORONTO — MediPharm Labs Corp. has signed a deal to sell its facility in Hope, B.C., to Rubicon Organics Inc. for $4.5 million in cash.
The company stopped using the facility in 2024, consolidating operations following its acquisition of VIVO Cannabis Inc.
Rubicon Organics has agreed to acquire the land and building associated with the Hope Facility as well as certain equipment.
The cannabis company says it plans to use the operation to increase its production capacity.
The deal is expected to close within the second quarter of 2025, subject to customary closing conditions and receipt of all necessary approvals.
MediPharm produces cannabis concentrates, active pharmaceutical ingredients and advanced derivative products.
This report by The Canadian Press was first published March 3, 2025.
Companies in this story: (TSX:LABS, TSXV:ROMJ)
The Canadian Press
