Apollo Capital Calls for Immediate Action Against MediPharm Labs Alleged Misconduct
TORONTO, May 29, 2025 – Apollo Technology Capital Corporation (“Apollo Capital”), a significant shareholder of MediPharm Labs Corp. (TSX: LABS) (OTCQB: MEDIF) (FSE: MLZ), has issued a warning to shareholders and regulators regarding serious allegations of securities law violations and financial misfeasance at MediPharm Labs. Apollo Capital, which owns approximately 3% of MediPharm’s common stock, has received information from multiple credible sources indicating that the company’s Board of Directors and management may have engaged in deliberate and systematic financial misconduct.
Key Allegations Against MediPharm Labs
- Multiple highly credible sources have revealed alleged extensive securities act disclosure violations by MediPharm Labs’ Board and management.
- Allegations include deliberate financial misfeasance and deceptive accounting practices to artificially inflate revenues and stock valuation.
- Chris Taves, MediPharm’s Chairman and Audit Committee Chair, is specifically implicated in orchestrating schemes to overstate Company revenues.
Demands for Action
Apollo Capital has called for:
- Immediate investigation by regulatory authorities including the OSC, TSX, and SEC.
- Full cooperation from MediPharm’s Board with regulatory investigations.
- Transparent disclosure of all related information.
- Suspension of implicated management or Board members pending investigation outcomes.
“These allegations paint a profoundly troubling picture of calculated corporate conduct to overstate revenues and mislead shareholders,” stated Apollo Capital. “Immediate transparency, accountability, and significant leadership changes are essential to restore credibility at MediPharm.”
Shareholder Action Required
Apollo Capital urges MediPharm Labs shareholders to:
- Vote the GOLD proxy card “FOR” Apollo Capital’s six director nominees.
- Disregard MediPharm Labs’ GREEN proxy card.
Shareholders can visit www.CureMediPharm.com for campaign updates and access Apollo Capital’s Circular and related proxy materials at www.sedarplus.ca.
For more information, contact:
- Carson Proxy: 1-800-530-5189, 416-751-2066, info@carsonproxy.com
- Media: CureMediPharm@gasthalter.com
