Let's have a look at Medipharm.
MediPharm Labs Corp. (TSXV:LABS) is a leading B2B Canadian cannabis extractor, producing purified pharma-grade cannabis oil and concentrates for the development of cannabinoid derived products. As part of their B2B model, MediPharm Labs supplies raw materials, formulations, processing and packaging for ready-to-sell advanced derivative products. The first Canadian company to become a licensed producer of cannabis oil under the Access to Cannabis for Medical Purposes Regulations (ACMPR) without first being a licensed cultivator, MediPharm Labs is focused on bringing pharma-grade products to the adult-use and medical cannabis industries in Canada.
On the 12.11.18 they received their License approval and today, the 13.11.18 they announce a partnership with Supreme Cannabis:
''("Supreme Cannabis" or the "Company") (TSXV: FIRE) (OTCQX: SPRWF ) (FRA: 53S1), is pleased to announce that the Company has entered into a three-year agreement with MediPharm Labs Inc. ("MediPharm"), a wholly owned subsidiary of MediPharm Labs Corp. (TSXV: LABS), to facilitate the launch of the Company's cannabis oil products line. MediPharm holds a processing license and is a leader in the cannabis industry focused exclusively on cannabis extraction and producing pharmaceutical-grade cannabis oil .
Supreme Cannabis, through its wholly-owned subsidiary, 7ACRES has agreed to supply a minimum of approximately 1,000 kg of high-quality cannabis trim as input per year to MediPharm for the extraction and production of at least 200,000 40ml units of premium, high-terpene cannabis oil products for the adult-use consumer market. Under the terms of this agreement, all cannabis oil products processed by MediPharm will be sold under Supreme Cannabis' brands, including a new, to be announced brand. The program will be established at no capital cost to Supreme Cannabis, with MediPharm receiving a processing fee based on the cannabis oil produced.
"We expected market segmentation as the Canadian cannabis industry evolved and the emergence of dedicated experts focused on downstream activities. Partnering with product experts, such as MediPharm, allows Supreme Cannabis to launch oil products quickly," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "We are excited to be working with MediPharm and look forward to Canadian adult-use consumers being able to experience High End Cannabis™ oil products derived from what we believe is the best flower being produced at scale." ''
This is great news for both parties, and even more for Medipharm, this is a huge week for them and now they are finally ready to grow as a company and what a start!
Let's Talk Technical Analysis:
Price action has broken the first green line (today) showing great anticipation for a breakout. Our next target is the resistance showed on the graph. Bulls tried to go pass it twice, but failed due to no good motivation. With this news in play i'm pretty confident it will break. Once it does the price will stamble against the 0.382 fib level which will serve as a aswell. I think we might see a first failed break due to the 10% run it had already, so I think it could drop towards our Resistance, which is now a as shown on the chart.
Once arrived there there should be a bounce, and another attempt to break. If Bulls do break above the 0.382 fib level, our next traget will be the 0.5 fib level, which would be a 18.25% run.
Let's see how it goes tomorrow, but I know I'll be watching Medipharm from close!
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