VIVO Cannabis™ Announces Entry into Quebec and Provides Adult-Use Business Update
TORONTO, Jan. 4, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services and holder of licenses under the Cannabis Act through its wholly-owned subsidiaries, Canna Farms Limited ("Canna Farms") and ABcann Medicinals Inc. ("ABcann"), today announced its products have entered into the Quebec market with Canna Farms™ BC Kief as the province's first in the kief category. The Company also provided an update on its adult-use cannabis products across Canada.
"We're excited to bring additional solventless concentrates to consumers across the country," said Carole Chan, Chief Commercial Officer of VIVO Cannabis Inc. "As a leading licensed producer of craft premium cannabis products including concentrates, we look forward to diversifying our product offering in this growing niche category to better serve cannabis connoisseurs across the country."
Canna Farms™ Concentrates Available in Quebec
Quebec is the third largest market in Canada and the ninth province where VIVO products are available. Canna Farms™ BC Kief is the first in the kief category in Quebec, and through a partnership with provincial logistic partners, VIVO is expediting orders to meet demand both in-store and online.
VIVO Continues Concentrates Category Leadership Position
VIVO continues to maintain its solid market share in the cannabis concentrates space. The most recent publicly available information provided in the Ontario Cannabis Stores Quarterly Report for the period ending September 30, 2020 indicates Canna Farms™ and Fireside-X™ represent two of the top five leading concentrates brands, with a combined market-leading share of 38% in the category at Ontario retail stores.
Fireside™ Blaze Distillate Vape Launches in Alberta
VIVO launched its next generation Fireside™ Blaze, ultra-high THC distillate vape cartridge to consumers in Alberta last month. Extracted using state-of-the-art cryo-ethanol extraction and thin film distillation, there are no cutters, fillers, flavours, or additives in this pure, smooth and potent vape option.
Additional Canna Farms™ Cultivars Available in British Columbia
VIVO continued to expand its premium dry flower cultivar offering with the addition of three new Canna Farms™ listings in British Columbia: CBD Critical Mass, CBD Cannabliss and Cold Creek Kush. VIVO is focused on developing new cultivars and continues to invest in pheno hunting to provide unique genetics to all cannabis markets across its entire portfolio of brands. As the first licensed producer in British Columbia, the Canna Farms™ brand was built on a small-batch artisan approach to cannabis cultivation and continues to employ that practice to this day.
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. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms™, Beacon Medical™, Fireside™, Fireside-X™, Lumina™ and Canadian Bud Collection™. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 150,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. For more information visit: vivocannabis.com
Disclaimer for Forward-Looking Information
Certain statements in this news release are, or can be interpreted as, 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 that VIVO is expediting orders from Société Québécoise du Cannabis (SQDC) stores to meet demand, that its cannabis concentrates continue to do well in the market, and that consumers will find Fireside's store-locator feature useful..
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: orders from Société Québécoise du Cannabis (SQDC) stores may be limited or not materialize at all; that VIVO will not continue to do well in the cannabis concentrates market as new competition enters; that consumers will not find Fireside's store-locator feature useful; ; that the COVID-19 pandemic may last longer and have a more significant impact on the Company's operations, 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 and nine months ended September 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.
VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, [email protected]
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