NAPANEE, ON, Jan. 23, 2020 /CNW/ - VIVO Cannabis Inc.
(TSXV: VIVO, OTCQX: VVCIF) ("VIVO" or the
"Company") is pleased to announce its common shares (the
"Common Shares") will begin trading on the Toronto Stock
Exchange (the "TSX") effective as of market open on
January 24, 2020, under the current
trading symbol of VIVO. In conjunction with the TSX listing, the
Common Shares will be voluntarily delisted from the TSX Venture
Exchange.
"The strength of the Toronto Stock Exchange is world-class, and
this event represents a tremendous milestone for VIVO," said
Barry Fishman, Chief Executive
Officer. "We believe the TSX listing will increase VIVO's exposure
to a wider audience, increase trading liquidity and expand access
to a large new pool of institutional investors."
To celebrate this corporate milestone, VIVO will host employees
and invited guests to open trading on the TSX on Friday, January 24, 2020. The market opening
ceremony will be available on TSX.com.
Cannabis 2.0 Update
To date, VIVO has successfully shipped cannabis 2.0 products
from its Canna Farms facility to the provinces of Manitoba and Saskatchewan, with purchase orders to
Alberta, Ontario and British
Columbia expected to ship imminently.
VIVO also expects to make initial shipments of its Fireside™
chocolate products, which were created with the founders of
award-winning Belgian chocolatier, ChocolaTas, to the provinces of
British Columbia, Alberta, Saskatchewan, Manitoba and Ontario, and its Fireside™ concentrates and
vape products from its Vanluven facility to the provinces of
Alberta, Ontario, British
Columbia and New Brunswick,
before the end of Q1 2020.
"We expect that by the end of Q1 2020, our cannabis 2.0 products
will be available for sale in seven provinces, which is a
significant achievement considering the recent opening of the
market," Mr. Fishman continued. "We are proud of our suite of 2.0
products and look forward to our customers having the opportunity
to experience them for themselves."
Disclaimer for Forward-Looking Information
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: that the graduation to the TSX will broaden the
Company's investor reach and increase trading liquidity; the
expected location and timing of market availability for the
Company's cannabis 2.0 product portfolio; the Company's
expectations regarding the new cannabis products, including public
perception or production capabilities; and the expected variety of
products that the Company will offer. 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 the
Company's cannabis 2.0 product portfolio may not be available in
the provinces or in the timeframe currently anticipated, or at all;
that the public perception of the Company's new products may not be
as expected; changes in cannabis consumption habits among
Canadians; the ability of the Company's production facilities to
operate and perform as expected; the ability of the Company to
successfully produce and sell a variety of products under its
cannabis 2.0 portfolio; that the Company may not receive or
maintain requisite regulatory approvals for the launch of its
cannabis 2.0 portfolio, or may not receive such approvals in
accordance with expected timelines; future legislative and
regulatory changes or developments related to cannabis, including
regulations and guidelines regarding derivative products; 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 annual information form for the year ended December 31, 2018, 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.
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 and expertise, as
well as a significant patient 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.
SOURCE VIVO Cannabis Inc.