NAPANEE, ON, May 21, 2019 /CNW/ - VIVO Cannabis Inc.
(TSX-V: VIVO, OTCQX: VVCIF) ("VIVO" or the
"Company"), through its wholly-owned subsidiary, Canna Farms
Limited ("Canna Farms"), today announced the addition
of GTEC Holdings Ltd. (TSX-V:GTEC) (OTC:GGTTF) (FRA:1BUP), sold
under the brand GreenTec™, to the list of licensed
producers selling product on its medical cannabis platform.
This addition expands the variety of quality products available
to medical patients on Canna Farms' newly launched medical cannabis
website, which is now the largest on-line platform for medical
cannabis users across Canada.
Combining the Company's Beacon™, Lumina™ and Canna Farms™ brands,
and products from additional third-party cultivators, including
Pure Sun Farms™ and GreenTec™, into one store offers a distinct
advantage for patients looking for a single location to access a
broad selection of medical cannabis products. Based on the most
recently available Health Canada statistics, sales on the site
represent 9% of the medical market's dried cannabis sales, making
Canna Farms' integrated medical cannabis platform the sixth
largest medical cannabis supplier in Canada.
"The success of the integrated store has allowed VIVO to partner
with quality brands that cater to discerning medical cannabis
patients. Discussions continue with additional craft cultivators
and LPs wanting to position themselves alongside market leaders but
lacking a sales license and/or the required expertise to enter the
medical market," said Vice President of Canna Farms, Brian McDonald. "We continue to streamline our
processes to support our continual improvement and cost reduction
strategies, which is key to ensuring fresh product at competitive
prices. We also have the combined resources needed to register
patients looking for a broad selection of products in one place
extremely efficiently, part of our on-going commitment to the
medical cannabis market."
Barry Fishman, CEO of VIVO,
stated, "Supplying the medical market with high quality
standardized cannabis has always been a primary focus for VIVO. We
are proud to say that we now offer the widest range of medical
cannabis products in Canada."
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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
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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.
SOURCE VIVO Cannabis Inc.