VIVO Cannabis Signs Australian Distribution Agreement
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."
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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.
VIVO Investor Relations, Craig MacPhail, +1.416-586-1938, [email protected], NATIONAL Capital Markets; Michael Bumby, Chief Financial Officer, [email protected], VIVO Cannabis Inc.
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