VIVO Cannabis™ Provides Medical Cannabis Business Update
TORONTO, Dec. 16, 2020 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") is pleased to provide an update on its medical cannabis business.
Medical cannabis patients with authorizations in Canada can now purchase a variety of Canna Farms™ craft premium dried flower and pre-roll strains and solventless concentrates through the Medical Cannabis by Shoppers™ online sales platform. Canna Farms™ Kief and Bubble Hash products are the first in their concentrate categories to launch with Medical Cannabis by Shoppers™ and offer experienced patients the option of higher potency, quicker onset of action delivery formats.
"We're proud to offer our quality-tested products through a trusted pharmacy network which is helping to shape the medical cannabis community," said Barry Fishman, Chief Executive Officer of VIVO. "We have aligned visions for product standardization and consistency for medical cannabis patients, and we look forward to further collaboration with Medical Cannabis by Shoppers Drug Mart Inc. and the introduction of additional novel products."
VIVO also announced that a selection of its Canna Farms™ and Beacon Medical™ products will be available to patients in the previously announced University Health Networks' ("UHN") Medical Cannabis Real-World Evidence Study, in partnership with Medical Cannabis by Shoppers Drug Mart Inc.
Led by UHN's Dr. Hance Clark, the first-of-its-kind, prospective, non-interventional, observational study that will involve a nation-wide clinical trial to examine the impact of medical cannabis on sleep, pain, anxiety and depression issues. The study will enroll about 2,000 patients who will be followed over a 24-week period to determine the efficacy of medical cannabis on producing positive health outcomes.
As part of the study, all Canna Farms™ and Beacon Medical™ products will undergo additional testing, with results registered on TruTrace Technologies software platform that is integrated through the Medical Cannabis by Shoppers online platform and will capture detailed data about each product for patients in the clinical trial. VIVO products starting in the new year.
"We are excited to participate in this groundbreaking study in partnership with UHN and Medical Cannabis by Shoppers Drug Mart Inc.," said Carole Chan, Chief Commercial Officer of VIVO. "At VIVO, we are uniquely committed to our medical business and are supportive of this concerted effort to bring greater clarity and consistency to the medical cannabis space, by elevating the standards of quality control."
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 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 Company's activities to date are expected to help solidify its market presence in the medical cannabis space; and factors that VIVO believes will drive significant growth in medical cannabis utilization.
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 medical cannabis market may not grow to the extent, within the time, or for the reasons expected by the Company; 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; that the Company may not be able to launch new products in the time expected or at all and that patients may not receive the expected benefits therefrom; that the Company may not be able to achieve competitive margins; that new products, if launched, may not be accepted by the market or may become subject to product liability claims; that the Company may not be able to obtain necessary licences ; 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 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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