NAPANEE, ON, May 22, 2019 /CNW/ - VIVO Cannabis
Inc. (TSXV: VIVO, OTCQX: VVCIF) ("VIVO" or the
"Company") is pleased to announce that it has signed a
distribution agreement with Burleigh Heads Cannabis Pty Ltd.
("Burleigh Heads"), one of
Australia's leading medicinal
cannabis distributors. The agreement is expected to increase the
ability of Australian patients to access VIVO's high-quality
medicinal cannabis flower, oil and other products via approved
channels.
The required regulatory import permits necessary to enable the
first shipment of product under the agreement have been granted by
the Australia Office of Drug Control, and Burleigh Heads expects to import the first
shipment of VIVO products in June, subject to receipt of a Canadian
export permit.
Barry Fishman, CEO of VIVO, stated, "We are very excited to
announce the signing of this distribution agreement, which will
give us increased exposure in the Australian market and enhance
consumer awareness of our brand and products. Burleigh Heads is a strong advocate for
improving patient access to safe cannabis medicines and, together
with its affiliate, CDA Clinics Australia, is a leader in providing
Australian patients with channels through which to acquire
high-quality cannabis products."
Guy Headley, Director of
Operations of Burleigh Heads,
commented, "We are impressed with VIVO's commitment to product
quality and patient access. We look forward to providing Australian
patients and doctors with another quality medicinal cannabis
treatment option. We also look forward to continuing this
relationship with VIVO as their product portfolio expands."
Visit our website to sign up for VIVO Cannabis
updates: https://www.vivocannabis.com/contact/
About VIVO Cannabis™
VIVO, based in Napanee,
Ontario, is recognized for trusted, high-quality products
and services. It holds production and sales licences from Health
Canada and operates world-class indoor cultivation facilities with
proprietary plant-growing technology. VIVO has a collection of
premium brands targeting unique customer segments, including Beacon
Medical™, Fireside™, Canna Farms™ and Lumina™. In August 2018, VIVO acquired Canna Farms, a premium
cannabis company based in Hope, British
Columbia. Canna Farms was B.C.'s first Licensed Producer and
has several years of craft cultivation experience, as well as a
significant customer base and positive cash flow. The Company is
significantly expanding its production capacity and pursuing
partnership and product development opportunities domestically, as
well as in select international markets, including Germany and Australia. VIVO also operates Harvest
Medicine, a patient-centric and highly scalable network of
specialty medical cannabis clinics as well as a free telemedicine
service. VIVO has a healthy balance sheet and is well-positioned to
accelerate its growth in Canada
and internationally. For more information visit:
www.vivocannabis.com
About Burleigh Heads Cannabis and Cannabis Doctors Australia
Clinics
CDA Health Pty Ltd ("CDA"), through its subsidiaries,
Burleigh Heads and Cannabis Doctors
Australia Pty Ltd, provides a market-entry solution to local and
international businesses seeking to gain access to Australia's medical cannabis market.
Burleigh Heads is a fully licensed
medical cannabis wholesaler which utilises its secure cold-chain
facility on the Gold Coast and
national pharmacy partner network to provide local and
international producers a streamlined importation and distribution
service throughout Australia. CDA
also operates CDA Clinics, doctor-led medical cannabis clinics
throughout Australia, through its
network of physical clinics and TeleHealth consultation services.
For more information see: www.burleighheadscannabis.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements, which
are statements that are not purely historical, regarding the
beliefs, plans, expectations or intentions of the Company and its
management regarding the future, and should not be read as
guarantees of future performance or results. Forward looking
statements in this news release include statements: that the
distribution agreement will improve the Company's brand and product
visibility in Australia; regarding
the timing of the Company's first shipment under the agreement; and
that the agreement is expected to increase Australian patient
access to the Company's product. 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: delays in timing of the
first shipment; failure of VIVO's products to be purchased by
Australian patients in the amounts expected; distribution and
shipping risks; product liability risks; changes to applicable
regulations; failure of the Company to derive the benefits expected
from the agreement; and other factors beyond the Company's control.
A more complete discussion of the risks and uncertainties facing
the Company is included in the Company's Annual Information Form
for the year ended December 31, 2018
and other continuous disclosure filings, which are available on
SEDAR at www.sedar.com. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this news release. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements as a result of new information or future events, or for
any other reason, other than as required by applicable securities
laws.
SOURCE VIVO Cannabis Inc.