REISSUE - ABcann Global Announces Company Name Change to VIVO Cannabis™
NAPANEE, Ontario, Aug. 07, 2018 (GLOBE NEWSWIRE) -- ABcann Global Corporation (TSX-V: ABCN, OTCQB: ABCCF) (“ABcann,” “VIVO” or the “Company”) is excited to announce that, effective immediately, it will be known as VIVO Cannabis Inc. — a contemporary reflection of the Company’s evolution, purpose and direction. The name change will be effective at market open on Tuesday, August 7, 2018 and “VIVO” will replace “ABCN” as the Company’s ticker symbol on the TSX Venture Exchange.
VIVO — which translates to “living” in Latin — embodies the Company’s commitment to providing quality cannabis products and services that improve lives. It’s the common thread that unites us all, and it’s the spirit behind the rebranding. It also celebrates the recent announcement of the Company’s proposed acquisition of Canna Farms Limited.
“VIVO is committed to making the most out of life. Our company tagline — ‘living life’ — demonstrates our dedication to meeting the needs of our customers in Canada and internationally with cannabis-based products, both in the medical and adult-use markets,” says Barry Fishman, CEO of VIVO Cannabis.
With the emergence of the Canadian adult-use market, continued focus on the medical cannabis segment and a growing global opportunity — coupled with a healthy balance sheet showing $110 million in cash — VIVO is well-positioned for success.
VIVO’s unwavering focus on customer needs is demonstrated in the quality of its products, its innovative culture and its plans for expansion. This customer-centric approach is also demonstrated in VIVO’s commitment to demonstrating leadership in the exciting and evolving cannabis industry.
VIVO is a collection of premium brands targeting unique customer segments and needs. Under the overall corporate umbrella of VIVO Cannabis Inc. (vivocannabis.com), the Company’s portfolio includes the following brands:
Beacon Medical: This standardized pharma-grade cannabis is a superior product that’s clean, consistent and repeatable —qualities sought by physicians and patients (beaconmedical.ca)- The Clear Path to Medical Cannabis
Fireside Cannabis: Tailored to the social user, this premium cannabis is grown in small batches and undergoes a long curing process to ensure a smooth final product in three varieties to suit every gathering (firesidecannabis.com)- Tell Your Story, Fireside
Lumina Wellness: An elegantly designed wellness-focused cannabis product line, Lumina was created to enhance mindfulness and self-discovery (luminawellness.com)- Wellness, Elevated
In addition, VIVO’s wholly owned subsidiary Harvest Medicine (hmed.ca) is an established medical cannabis clinic that provides a highly scalable model. In less than 18 months of operation at its Calgary clinic, Harvest Medicine reached a client base of 15,000 active patients through its patient-centric approach and dedication to providing exceptional care. The new location in Edmonton is up and running, and additional locations and the launch of an innovative purpose-built telemedicine app are planned for the near future.
“ABcann was an early leader in the burgeoning cannabis industry. As a Licensed Producer since 2014, we have the experience, the knowledge and the people to create and deliver superior products,” Fishman says. “As VIVO Cannabis, we embrace the mission to improve lives, and we’re well-positioned to continue to be a recognized leader in bringing innovative products and exceptional customer experience to the market.”
About VIVO Cannabis™
VIVO is recognized for trusted, high-quality products and services. It holds production and sales licences from Health Canada, and its world-class indoor cultivation facility in Napanee, Ontario contains proprietary plant-growing technology. VIVO is expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany, Australia and Israel.
VIVO recently announced that it has entered into a definitive agreement to acquire 100% of the issued and outstanding share capital of Canna Farms Limited, 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry Fishman (CEO and Director)
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 Information
This news release contains forward-looking statements, including statements regarding the Company’s proposed acquisition of Canna Farms; its plans for expansion; the expected benefits of the name change; and the Company’s position in the market going forward. The forward-looking statements in this release are based on certain assumptions and involves known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations, including that the acquisition of Canna Farms will be successfully completed and that customers will respond positively to the Company’s name change and product lines. These forward-looking statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, including: that the proposed Canna Farms acquisition may not close on the terms expected or at all; regulatory impediments to the timing of opening of the adult use market; changes to industry regulations that are adverse to the Company; and that customer reception to the Company’s change of name or product lines may not be as expected. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and 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.
Photos accompanying this announcement are available at:
More Information Barry Fishman, CEO: email@example.com Michael Bumby, CFO: firstname.lastname@example.org Website: vivocannabis.com