TORONTO, Oct. 6, 2020 /CNW/ - VIVO Cannabis
Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the
"Company") announces that it has filed a short form base
shelf prospectus (the "Shelf Prospectus") with securities
regulatory authorities in each province of Canada.
The Shelf Prospectus will enable the Company to offer common
shares, debt securities, convertible securities, subscription
receipts, warrants, units or any combination thereof for aggregate
gross proceeds of up to $50 million during the 25-month period
the Shelf Prospectus is effective.
If the Company proceeds with an offering of securities under the
Shelf Prospectus, the specific terms, the proposed use of proceeds
and other matters related to such offering will be set out in a
prospectus supplement, which will be filed with all applicable
Canadian securities regulatory authorities. The Company may also
use the Shelf Prospectus in connection with an "at-the-market
distribution" in accordance with applicable securities laws, which
would permit securities to be sold on behalf of the Company through
the Toronto Stock Exchange (or other applicable stock exchange) as
further described in the applicable prospectus supplement. To date,
no agreement has been entered into with respect to such a
distribution.
The Shelf Prospectus can be found under the Company's profile on
SEDAR at www.sedar.com.
About VIVO Cannabis™
VIVO Cannabis™ is recognized for trusted, premium cannabis
products and services. It holds production and sales licences from
Health Canada and operates world-class indoor and seasonal airhouse
cultivation facilities with proprietary plant-growing technology in
Hope, British Columbia and
Napanee, Ontario. VIVO has a
collection of premium brands, each targeting different customer
segments, including Canna Farms™, Beacon Medical™, Fireside™,
Lumina™ and Canadian Bud
Collection™. The Company is expanding its production
capabilities and distribution network. Harvest Medicine, VIVO's
patient-centric, scalable network of medical cannabis clinics, has
serviced over 100,000 patient visits. VIVO is pursuing several
partnership and product development opportunities and is focusing
its international efforts on Germany and Australia. The Company has a healthy balance
sheet and is well-positioned to accelerate its path to
profitability. For more information visit: vivocannabis.com
Disclaimer for Forward-Looking Information
All dollar amounts in this news release are in Canadian
dollars. Certain statements in this news release are
forward-looking statements, which are statements that are not
purely historical, including statements regarding the beliefs,
plans, expectations or intentions of VIVO and its management
regarding the future. Forward-looking statements in this news
release include statements regarding potential future offerings by
the Company, the potential terms of same, the filing of any
prospectus supplement with respect thereto. Such statements are
subject to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those
contained in the forward-looking statements, including: that there
may be no financing available to the Company on satisfactory terms
or at all, if and when the Company wishes to draw capital down
under the Shelf Prospectus; that the COVID-19 pandemic may last
longer and have a more significant impact on the Company's
operations, financing abilities, the Canadian cannabis industry, or
the global economy generally, than currently expected; and other
factors beyond the Company's control. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. Readers are urged to consider these
factors, and the more extensive risk factors included in the
Company's management's discussion and analysis for the three months
ended June 30, 2020, which is available on SEDAR, carefully in
evaluating the forward-looking statements contained in this news
release, and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by these cautionary statements. The forward-looking statements in
this news release are made as of the date hereof and the Company
disclaims any intent or obligation to update publicly any such
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
SOURCE VIVO Cannabis Inc.