VIVO Announces Trading Date for TSX Graduation and Provides Cannabis 2.0 Update
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.
VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, [email protected]
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