VIVO Cannabis Selected as a Supplier to Ontario Retail Cannabis Market
NAPANEE, Ontario, Aug. 21, 2018 (GLOBE NEWSWIRE) -- VIVO Cannabis Inc. (TSX-V: VIVO, OTCQB: ABCCF) (“VIVO” or the “Company”) is pleased to announce that it has completed an agreement with the Ontario Cannabis Store (“OCS”) to supply the province with high-quality cannabis products. Under the terms of the agreement, VIVO will supply the Ontario market with 16 cannabis products to meet demand in the adult-use recreational cannabis market, set to open on October 17, 2018.
“The agreement with OCS is a significant milestone and we are confident that cannabis consumers in Ontario will appreciate our high-quality branded products,” said Barry Fishman, CEO of VIVO Cannabis. “We are extremely excited to introduce the craft-grown dried flower that will go into our FIRESIDE™ whole bud and pre-rolled products, and to offer our elegantly designed wellness-focused LUMINA™ cannabis oils.”
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)
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Disclaimer for Forward-Looking Information
This news release contains forward-looking statements, including statements regarding the Company’s announced completion of an agreement with OCS and the potential expected benefits of that agreement. The forward-looking statements in this release are based on certain assumptions and involve 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 agreement with OCS may not lead to any material benefits for the Company, or that OCS will want to renew the contract on an ongoing basis, or that Ontario cannabis consumers will value the FIRESIDETM and LUMINATM brands. 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, but not limited to, that the proposed Canna Farms acquisition may not close on the terms expected or at all; that there may be regulatory impediments to the timing of the opening of the adult use market; and that there may occur changes to industry regulations that are adverse to the Company. 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.