MediPharm Labs Appoints New Chief Financial Officer

Published: February 1, 2021

MediPharm Labs Appoints New Chief Financial Officer

MediPharm Labs Corp., a global innovator in specialized, research-driven pharmaceutical-quality cannabis extraction, distillation and derivative products, is pleased to announce Greg Hunter will join MediPharm Labs as Chief Financial Officer (CFO), effective February 8, 2021.

Greg Hunter brings over 20 years of experience as a business executive holding various senior finance and leadership roles across multiple industries including healthcare distribution, telecommunications, pharmaceuticals, biotechnology, medical device and consumer packaged goods. Greg also brings a track record and deep expertise in capital management, audit, compliance, tax, treasury, ERP, manufacturing, contract management and pricing strategy.

“As MediPharm continues to focus on accelerating the growth and execution of our global pharmaceutical, health and wellness business, Greg’s background in growing large pharmaceutical operations combined with a track record in strategic capital allocation and cost management is a strong addition to our Company,” said Keith Strachan, President and Interim CEO, MediPharm Labs. “As we look to seize new growth opportunities and expand our product offerings, his addition will ensure that we are well positioned to execute on our plans and deliver profitable growth in the future.”

Most recently, Greg was Chief Financial Officer of Medical Pharmacies Group Limited, a leading pharmacy and medical equipment manufacturer and distributor in Canada. Previously in the pharmaceuticals industry, Greg held various senior management roles with Baxter International Inc. including serving as CFO of Baxter’s Canadian subsidiary. Greg also previously held various senior operational and finance roles at Janssen-Ortho Inc., a Johnson and Johnson company.

Keith Strachan added, “I would also like to thank Olga Utkutug for her many contributions and leadership as Interim CFO. We look forward to her continued support as a key member of our finance team.”

Greg holds an MBA from McMaster University, an Honors B.Sc. in Microbiology and Immunology from University of Western Ontario and is a Chartered Professional Accountant.

In connection with Greg’s appointment as CFO, the Company granted 600,000 stock options to him with an exercise price set at the close of business on January 28, 2021. Each grant has a five-year term expiring January 28, 2026, and vests in five equal instalments, the first of which vests immediately with the four other instalments vesting on the dates which are six, twelve, eighteen and twenty-four months from the grant date. The stock options are subject to any necessary regulatory approvals.

Founded in 2015, MediPharm Labs specializes in the production of purified, pharmaceutical quality cannabis oil and concentrates and advanced derivative products utilizing a Good Manufacturing Practices certified facility with ISO standard built clean rooms.

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