MediPharm Announces Complete Dismissal of Dissident Court Proceeding Related to Annual and Special Meeting

Core Viewpoint - MediPharm Labs Corp. has successfully dismissed a legal application from Apollo Technology Capital Corporation and Nobul Technologies Inc. regarding the appointment of a third-party independent chair for the upcoming shareholder meeting [1][2][3] Legal Proceedings - The Superior Court of Justice in Ontario dismissed the application that sought to appoint an independent chair for the Annual and Special Meeting of Shareholders scheduled for June 16, 2025 [1][2] - The Court found no evidence that MediPharm's proposed meeting chair would act unfairly, thus negating the need for a third-party chair [3] Allegations and Conduct - Apollo's principal, Mr. Regan McGee, made serious allegations against MediPharm, including securities fraud and breach of fiduciary duty, and threatened to release damaging statements [3] - Mr. McGee initiated a lawsuit claiming $50 million in damages against MediPharm and its senior officers, but later withdrew certain claims and agreed to terms that included a declaration of no conflict of interest for the Company's legal counsel [3] Shareholder Voting Guidance - MediPharm encourages shareholders to vote using only the GREEN proxy or voting instruction card to support the Board's nominees and resolutions [4][5] - Shareholders are advised to contact their brokers to obtain their control numbers for voting and to disregard any communications from dissident parties [6] Company Overview - Founded in 2015, MediPharm Labs specializes in the development and manufacture of pharmaceutical-quality cannabis products [7][8] - The company holds a Pharmaceutical Drug Establishment License from Health Canada, making it the only North American company with a commercial-scale GMP license for cannabinoid extraction [9] - In 2023, MediPharm expanded its operations through the acquisition of VIVO Cannabis Inc., enhancing its reach in the medical cannabis market [10]