NAPANEE, Ontario, Sept. 25, 2018 (GLOBE NEWSWIRE) — VIVO Cannabis Inc. (TSX-V: VIVO, OTCQB: VVCIF) (“VIVO” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Canna Farms Ltd. (“Canna Farms”) has fulfilled and shipped its first recreational cannabis purchase destined for the British Columbia Liquor Distribution Branch’s (“BCLDB”) warehouse.
It was satisfying for Canna Farms to ship this first, historic shipment of recreational cannabis. We fulfilled the BCLDB’s purchase order on time and in accordance with our plans and processes. We look forward to making similar shipments in the next few weeks to Yukon, Alberta, Saskatchewan, Manitoba, and Ontario from our production facilities in Hope, British Columbia. The world is watching Canada as we lead the way globally in creating a federally regulated adult-use cannabis market.
Dan Laflamme, President of Canna Farms
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 Limited, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has many years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. VIVO 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. In addition, VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics. Harvest Medicine provides best-in-class education and support to over 15,000 patients in its clinics and via its free telemedicine platform. VIVO has a healthy balance sheet with over $100 million in cash and is well-positioned to accelerate the growth of its business, in Canada and internationally.