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VVCIF: effective April 5,2023: Plan of Arrangement. Shareholders of VIVO will receive 0.2910 of one common share of MediPharm for each VIVO Share held. Fractional shares will be rounded down to the nearest whole number.
What are your thoughts with Vivo? No news on Vertosa drinks or anything on EU GMP certification and both of those happened almost a year ago now. Weren’t they supposed to begin with sales of those drinks last summer also? I mean we are near 52 week low and might be a great opp to hop in but news is completely lacking
CRON is a likely buyer. May not be an earth shattering deal but VVCIF & CRON have similar revenues and CRON has a nice cash position. The recent VVCIF hires may have something to do with getting a deal done IMO.
VIVO Cannabis(TM) Announces Second Quarter 2021 Results
Aug. 16, 2021 7:10 PM ETFacebook, Inc. (FB), VVCIF Newsfile Corp
Net revenue of $6.4 million - an increase of 16% over Q1 2021
Significant changes to the Board composition to lead to streamlined business strategy
Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - VIVO Cannabis Inc. (VVCIF) (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") today released its second quarter 2021 financial and operating results.
Management Commentary
"At the start of the third quarter of 2021, significant changes were made to the Board which subsequently has approved management's redefinition of the Company's strategy to fully leverage the efforts and investments that VIVO has made in the medical channels. In so doing, we expect that shareholders and clients alike will be pleased as our business becomes more focused on service and profitability. We will release another statement soon to outline these changes in more detail," said Ray Laflamme, Chief Executive Officer of VIVO Cannabis. "We have been rewarded in this past quarter with increased Australian sales, successful topical cream and brick hash product launches, and our first import permit from the German authorities. I expect that the third quarter will continue to reward those shareholders that have stayed the course."
Financial Summary
Net revenue for Q2 2021 was $6.4 million, representing a 16% increase quarter-over-quarter as compared to Q1 2021.
Sales, general and administrative expenses were $4.3 million in Q2 2021, compared to $4.1 million in Q1 2021, an increase of 5% driven by legal expenses related to conducting the AGM.
The Company's adjusted EBITDA(1) was ($3.0) million for the quarter, compared to ($2.4) million in Q1 2021, the difference primarily driven by inventory write-downs taken in the quarter.
Cash and cash equivalents decreased from $16.9M in Q1 2021 to $15.7M in Q2 2021, driven by the Company's operating losses.
I dumped this pig a long time ago. They became a huge disappointment to me. I loved their unique air-house cultivation facilities but their execution failed.
Too many other cannabis companies will survive. They all cannot. This one won't.
VIVO Cannabis™ Announces First Quarter 2021 Results
May 17, 2021 6:20 PM ETCanada NewswireVIVO Cannabis Inc. (VVCIF)
Net revenue of $5.5 million – a decrease of 11% over Q4 2020
Vanluven facility received EU-GMP certification allowing VIVO to export cannabis products for sale in Europe and Beacon Medical Germany GmbH received an import license to allow imports of medical cannabis
Released brick hash as part of VIVO's Cannabis 2.0 product lineup and expect to release a new line of topicals in Q2 2021, VIVO's 9th and 10th product formats, respectively
Closed an $8 million equity offering in February 2021, including the full exercise of the over-allotment option
TORONTO, May 17, 2021 /CNW/ - VIVO Cannabis Inc. (VVCIF) (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") today released its first quarter 2021 financial and operating results.
"In the first quarter of 2021, VIVO made significant contributions to its organizational foundation with the EU-GMP certification of the Vanluven Facility and by strengthening its balance sheet with an equity offering completed in February 2021." said Rick Fitzgerald, interim-CEO of VIVO. " We also continue to enhance our Cannabis 2.0 line of products with the formulation of our new brick hash offering and our soon to be released topical offering."
Financial Summary
The Canadian Cannabis industry continues to face strong headwinds caused by retail price compression and customer inventory rationalization.
Net revenue for Q1 2021 was $5.5 million, representing a 11% decrease quarter-over-quarter as compared to Q4 2020, driven by a one-time $0.6 million excise tax underestimate, a late Q4 2020 Australian shipment and overall Canadian market compression in the quarter.
VIVO continued to sustain top-tier prices for its medical and adult-use dry flower products, with a net average selling price (net of excise) of $6.28 per gram in Q1 2021, up 5% from Q4 2020 due to product mix.
Sales, general and administrative expenses were $4.1 million in Q1 2021, compared to $5.1 million in Q4 2020, a reduction of 20% driven by targeted cost reduction activities and one-time restructuring costs incurred in Q4 2020.
The Company's adjusted EBITDA(1) was ($2.4) million for the quarter, compared to ($4.8) million in Q4 2020, the difference primarily driven by targeted cost reduction activities and restructuring in the prior quarter.
VIVO continued to strengthen its balance sheet through its $8M capital raise. The cost reduction activities and the capital raise allowed for an increase in its cash and cash equivalents balance from $5.7M in Q4 2020 to $16.9M in Q1 2021.
Key Performance Indicators
KPI (P&L amounts in millions)
Q1 2021
Quarter-over- Quarter Change
Q4 2020
Net Revenue
$5.5
-11%
$6.2
SG&A
$4.1
-20%
$5.1
Adjusted EBITDA (1)
($2.4)
-50%
($4.8)
Cash and equivalents
$16.9
197%
$5.7
Active patients (2)
17,200
-23%
22,200
Net flower price per gram
$6.28
5%
$6.01
(1)
Adjusted EBITDA is not a measure of financial performance under IFRS. For the Company's definition of Adjusted EBITDA, see the Company's management's discussion and analysis for the three months ended March 31, 2021, available under the Company's profile at www.sedar.com.
(2)
Represents active patients (as of the end of the quarter) who purchase medical cannabis directly from the Company. Note the six-month extension on expired authorizations by Health Canada, ended December 2020.
Business Update
VIVO remains focused on executing against its four strategic priorities. In the first quarter of 2021, the Company made significant progress in enhancing supply and production capabilities, expanding its customer network, increasing product innovation and accelerating its international medical business. VIVO believes that focusing on these four priorities will generate long-term shareholder value and accelerate the path to profitability.
1. Enhance Supply and Production Capabilities
VIVO continues to advance the integration of its Napanee, Ontario and Hope, BC operations in response to the streamlining of its Napanee operations in October 2020. The Company's Napanee operations focus on extraction, product formulation and EU-GMP related processes. The Company's Hope operations focus on indoor cannabis cultivation, packaging and solventless extracts and concentrates. VIVO continues to expand its premium dry flower cultivar offering with the addition of two new Canna Farms™ listings in Prince Edward Island: Pink Kush large format flower and multi-pack of pre-rolls. VIVO anticipates these will be available for purchase by the end of Q2. VIVO continues to expand its product portfolio in Quebec with the addition of three new Canna Farms™ listings: CBD Critical Mass flower, CBD Canna Bliss flower and pre-rolls. VIVO anticipates these to be available for purchase in Q3. VIVO is focused on developing new cultivars and continues to invest in phenotype hunting to provide unique genetics to cannabis markets across its entire portfolio of brands. Although the airhouses at the Kimmetts Facility in Napanee suffered damage during a powerful winter storm, the Company has assessed the situation and has repaired and inflated one airhouse to be used in 2021. In 2020, the airhouses provided better than expected growing conditions. The cannabis plants cultivated in the airhouses grew much larger than anticipated, and much larger than was ideal. Due to the low price of biomass following the 2020 growing season, VIVO will use the 2021 growing season to determine the optimum protocol to follow to harness the airhouses' ideal environment to cultivate premium flower. The Company's ethanol extraction suite at the Vanluven Facility continues to produce high quality cannabis extracts and distillates for use in many of VIVO's products as well as for use in producing the Company's emulsions made under its partnership with Vertosa. The Vanluven Facility's focus is on the processing and manufacturing of quality oils, distillates, concentrates and more advanced formulations of VIVO's current and anticipated portfolio of medical products, as well as edibles and topicals. VIVO has invested in automated packaging and labelling equipment which are expected to increase its finished goods throughput and lower manufacturing costs. VIVO's capital expenditures for 2021 will be minimal. Disciplined investments in product development, facility optimization and international market commercialization are expected to continue to facilitate future profitable growth.
2. Create a Broad and Loyal Customer Network
VIVO has a strong portfolio of brands in both the medical and adult-use markets. Its Canna Farms™ brand is one of the leading brands in the industry, known for producing award-winning, BC indoor-grown, craft cannabis flower and newly launched solvent-less extracts and edibles.
VIVO continues to focus on supplying quality premium cannabis products, allowing the Company to maintain high prices for its medical and adult-use dry flower products, with a net average selling price of $6.28 per gram for the three months ended March 31, 2021. Canna Farms™ Pink Kush and Girl Scout Cookies flower and pre-rolls received 'Craft Cannabis' designation by Ontario Cannabis Store (OCS) as one of 20 Licensed Producers. Craft flower is hand-trimmed, hang-dried, hand-packaged, and grown in a facility that produces less than 10,000 kg of dried cannabis (or equivalent) a year. In January 2021, VIVO entered the Quebec market with Canna Farms™ BC Kief as the province's first in the kief category. Quebec is the third largest market in Canada and the ninth province where VIVO products are available. In May, VIVO obtained new listings with Société Québécoise du Cannabis (SQDC) for CBD Canna Bliss flower & pre-rolls and CBD Critical Mass flower and expects them to be available for purchase in Q3 2021. VIVO is proud to be one of a handful of participants permitted access to the Quebec market. VIVO continues its supply and its clinic services agreement with Medical Cannabis by Shoppers™. Over the first quarter of 2021, Medical Cannabis by Shoppers™ continued to grow its selection of VIVO Cannabis products. VIVO's family of brands, each targeting a specific market segment, include Canna Farms™, Beacon Medical™, Fireside™, Lumina™, Harvest Medicine™ and Canadian Bud Collection™. The Company currently sells over 100 stock keeping units. VIVO launched an updated Canna Farms™ website in May with refreshed branding, improved user design and overall consumer experience. Updates to the Canna Farms™ Instagram channel, internal patient newsletters and trade materials were also implemented for an omnichannel approach to drive traffic to the website as part of the integrated marketing strategy VIVO's Fireside™ brand launched a new store locator to help consumers gain access to retailers in their province that carry Fireside™ products. VIVO expects the store locator to help consumers and retailers alike, as local retailers and small businesses have faced numerous challenges over the past year given the continued changes to market dynamics as a result of COVID-19. Visit https://www.firesidecannabis.com/shop/ for more information. Canna Farms operates an industry-leading online medical cannabis platform, (https://www.cannafarms.ca). Combining the Company's Beacon Medical™, Fireside™, Lumina™, Canna Farms™ and Canadian Bud Collection™ brands, with products from third-party cultivators in one on-line medical store is believed to offer a distinct benefit for patients looking for a single location to access a broad selection of medical cannabis products. Canna Farms' platform represents one of the largest medical cannabis suppliers in Canada. In VIVO's cannabis clinic segment, Harvest Medicine ("HMED") operates a portfolio of four education focused, patient-centric, cannabis discovery clinics, including a 3,500 square foot clinic located in Northland Village Mall in Calgary, Alberta, a 3,000 square foot clinic inside the St. Albert Centre in St. Albert, Alberta, and two additional clinics in the provinces of New Brunswick and Nova Scotia. HMED has conducted more than 150,000 registered patient visits through its clinics, clinic-in-clinic partnerships and via its telemedicine platform, making it one of the top clinic networks in Canada. In Q1, Harvest Medicine began offering pharmacy consultations as an additional service offering for patients as part of their medical cannabis care.
As noted below under the heading "Current Outlook – COVID-19 Pandemic", the Company temporarily suspended in-clinic visits at its Harvest Medicine clinics but the Company's HMED Connect telemedicine platform is proving to be of increased service to the medical cannabis market as the general public has become increasingly conscious of social distancing and more patients are choosing to remain at home. HMED's telemedicine platform brings medical cannabis information and services to patients across Canada, allowing them to access the same patient-centric services they would receive in HMED clinics, on-line.
3. Build an Innovation-Driven Branded Organization
VIVO has a strong commitment to pursuing innovation throughout its value chain. The Company is also using its robust data insights as a foundation for the development of novel products with a strong competitive edge and high margins.
After the signing of an exclusive agreement with Vertosa Inc. (an infusion technology company based in Oakland, California), for Canadian production rights, Vertosa's equipment was installed at the Vanluven facility. VIVO continues to build on its emulsion supply agreements with multiple cannabis beverage bottlers with others pending. VIVO expects to have a record year in 2021 given the number of recognized brands that will leverage Vertosa emulsions. VIVO continues to advance its product development with partner, Pharmascience Inc., a global pharmaceutical company based in Montreal, Quebec, for a unique line of specific medical cannabis formulations produced under pharmaceutical quality standards. VIVO believes that a significant catalyst to increased medical cannabis use is the introduction of new medical-grade, precise-dosed, stable formulations, which the partnership with Pharmascience is intended to target. Pharmascience recently received its highly anticipated Health Canada license to produce cannabis products; the first products from this partnership are expected to be introduced to the Canadian market by Q4 2021. Canna Farms was BC's first licensed producer and proudly holds itself to the highest cultivation standards. In 2020 it was recognized by Brightfield Group as the brand with the 4th highest Brand Awareness. VIVO is committed to pursuing innovation throughout its value chain. The Company uses data insights gained from Harvest Medicine's clinics and from Canna Farms' medical cannabis platform as a foundation for the development of novel products that meet patients' needs and give VIVO a competitive edge. 4. Accelerate International Medical Business Growth
VIVO continues to pursue its international expansion strategy, leveraging its experience and leadership to enter select, new high-growth markets. The Company's initial focus is on the German and Australian markets.
On March 11, 2021 VIVO's Vanluven facility in Napanee Ontario received EU-GMP (European Union Good Manufacturing Practices) certification from Germany's Brandenburg health authority, the Landesamt für Arbeitsschutz, Verbraucherschutz und Gesundheit ("LAVG"). The certification took effect immediately and will enable VIVO, through its ABcann Medicinals subsidiary, to export product for sale into European and other markets requiring products to be manufactured under the rigorous EU-GMP standards. ABcann has harvested its first lot of whole flower slated for EU-GMP production. Australia's Therapeutics Goods Administrator (TGA) continues to report a record number of new patient approvals and triple digit growth in patient approvals year-over-year. The growth in the market has been matched by the growth in VIVO's Beacon Medical Australia business. Data released by Stats Canada show that VIVO exported a record 18% of dry flower shipped to Australia in 2020. VIVO is well positioned to capitalize on this rapidly growing market and currently sells 5 products under the Beacon Medical Brand. The Company is selectively expanding its international medical footprint, to enter new high-growth markets. The Company is following a capital-light approach owning no properties or major assets overseas, with an intense focus on go-to-market execution, leveraging strategic partnerships and pharmaceutical experience to ensure success.
COVID-19 Update
In 2020 and early 2021, the global economy, and society generally, has been in a state of upheaval as a result of the COVID-19 pandemic. This crisis continues to have an unprecedented impact on the markets, employees, customers, patients, and business partners.
These impacts include less demand for premium cannabis, downward pricing pressure, lower than expected adult-use market growth, production inefficiencies due to staffing challenges and enhanced safety procedures, travel limitations, and limited sales interactions.
Harvest Medicine continues to limit in-clinic visits while expanding the use of its HMED Connect telemedicine platform for phone and video consultations. Harvest Medicine continues to monitor and assess the reopening of its locations.
VIVO continues to monitor COVID-19 developments and has implemented enhanced personal safety and sanitation measures at all of its facilities. VIVO's production sites have continued operations throughout the pandemic and, to the Company's knowledge to date, there have been no confirmed cases of COVID-19 among Company personnel.
VIVO coordinated an internal vaccination clinic at its Hope facility for frontline essential workers and has conducted a series of internal mental health & wellness sessions to support employees with managing stress and building resilience during the pandemic.
Q1 2021 Results Video
An earnings overview video will be available on the VIVO Cannabis website (www.vivocannabis.com) on May 17, 2021.
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™, 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: www.vivocannabis.com
VIVO Cannabis™ Announces Appointment of Ray Laflamme to the Board TORONTO, April 15, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") is pleased to announce the appointment of Ray Laflamme to the board of directors of the Company (the "Board"), effective as of April 12, 2021.
VIVO Cannabis Inc. (CNW Group/VIVO Cannabis Inc.)
Mr. Laflamme joined VIVO in August 2018, when it acquired Canna Farms Limited, a company co-founded by Mr. Laflamme and the first licensed producer in British Columbia. He currently serves as the President of Canna Farms, which is the Company's largest subsidiary.
"Ray's long history in Canada's legal cannabis market will bring considerable depth of knowledge to the Board with respect to all aspects of the business from seed to sale, as well as invaluable expertise in the areas of quality assurance and regulatory affairs," said Rick Fitzgerald, interim CEO and Chair of the Board. "As our single largest shareholder and a key member of management, he has a clear interest in the successful execution of our business plan and we look forward to his contributions at the Board level."
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™, 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: www.vivocannabis.com
ON BEHALF OF THE BOARD OF DIRECTORS
SOURCE VIVO Cannabis Inc.
For further information: VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, ir@vivocannabis.com
How much more can it bleed! When people thought the world was ending w the covid this thing hit .07- there really isn’t more floor to hit IMO. This is MMs and tiny retail trading w themselves. Vivo story will be told (hopefully once they find a fking CEO). But certainly believe if you held this far- shld prob just sit tight. Up from here; new province, Australia coming online, shoppers supply deal, beverage, pharmascience collab, new markets in Germany, Mexico and eventually the US (coming faster than people expect, NY was a sleeping giant IMO)
Ahh thanks! And here I thought things looking better with EU approval and drinks coming to market although that is kinda super recent.... What do you think of declining sales what’s that now two quarters in a row though? might bleed here for a bit unless something comes to light
VIVO Cannabis™ Announces Fourth Quarter 2020 Results
Wed March 31, 2021 Canada Newswire
Net revenue for Q4 2020 was $6.2 million; Net revenue for 2020 was $32.8 million, an increase of over 32% compared with the same period last year
Recorded first significant revenues from VIVO's Australian business in 2020
In October 2020, began streamlining its Napanee, Ontario operations and integrating the operations of its Napanee and Hope LP's to achieve production cost and efficiency improvements. Subsequent to year end:
Pharmascience Inc., VIVO's strategic partner for specific medical cannabis formulations, received its Cannabis Standard Processing License for its Quebec-based facility to formulate and process cannabis and derivative products into finished products; On track to manufacture first medical cannabis product produced under pharmaceutical quality standards in 2021
Released brick hash as part of VIVO's Cannabis 2.0 product lineup and expected to release a new line of topicals in Q2 2021, VIVO's 9th and 10th product formats, respectively
Vanluven facility received EU-GMP certification allowing VIVO to export cannabis products for sale in Europe and Beacon Medical Germany GmbH received an import license to allow imports of medical cannabis flowers
Closed an $8 million public offering to help fund VIVO's growth TORONTO, March 31, 2021 /CNW/ - VIVO Cannabis Inc. (VVCIF) (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") today released its fourth quarter 2020 financial and operating results.
"While 2020 presented its share of challenges, we did a lot to better position VIVO for the future and we are beginning to see the early results of these efforts," said Richard Fitzgerald, interim CEO of VIVO. "We have already had some noteworthy achievements in 2021. The first of which is obtaining EU-GMP certification at our Vanluven facility, which enables us to accelerate our international growth plans. We also continue to enhance our Cannabis 2.0 line of products with the introduction of two new product formulations, brick hash and topicals, and look forward to introducing our first medical cannabis product produced under pharmaceutical quality standards later this year."
Financial Summary
Net revenue for the fourth quarter of 2020 was $6.2 million which represents a 23% decrease quarter-over-quarter as compared to Q3 2020. This decline is primarily due to the timing of re-orders post initial stocking of cannabis 2.0 products earlier in the year and a COVID-driven shift in market demand to lower priced products.
VIVO continued to sustain relative premium prices for its medical and adult-use dry flower products, with a net average selling price (net of excise) of $6.01 per gram in the fourth quarter of 2020 up 11% from the third quarter of 2020 due to product mix.
Sales, general and administrative expenses were $5.1 million in the fourth quarter of 2020, compared to $4.3 million in the third quarter of 2020, an increase of 19% driven by restructuring costs.
The Company's adjusted EBITDA(1) was ($4.8) million for the quarter, compared with ($2.6) million in Q3 2020, the difference primarily due to an inventory write-downs, price protection accruals, and restructuring.
During the year-end audit, an annual goodwill impairment test was performed and the Company determined an impairment charge of $33.5 million was required as the Canna Farms CGU carrying value was found to exceed its recoverable amount.
Key Performance Indicators
KPI (P&L amounts in millions)
Q4 2020
Quarter-over- Quarter Change
Q3 2020
Net Revenue
$6.2
(23%)
$8.0
SG&A
$5.1
19%
$4.3
Adjusted EBITDA (1)
($4.8)
NMF
($2.6)
Cash and equivalents
$5.7
+$2.4
$3.3
Active patients (2)
22,200
(13%)
25,550
Net flower price per gram
$6.01
11%
$5.42
(1)
Adjusted EBITDA is not a measure of financial performance under IFRS. For the Company's definition of Adjusted EBITDA, see the Company's management's discussion and analysis for the three months and year-ended December 31, 2020, available under the Company's profile at www.sedar.com.
Represents active patients (as of the end of the quarter) who purchase medical cannabis directly from the Company, including the temporary six-month extensions post March 13, 2020 based on Health Canada's amendment due to COVID-19. Due to the expiry of this extension, Canna Farms incurred a modest drop in active patients in Q4 2020.
Business Update
In 2020 VIVO restructured its $38 million convertible debenture liability through cash repurchase, equity conversion, and maturity date extension. As at December 31, 2020 the Company had $6.6 million 6% convertible debt remaining, due to mature September 15, 2022.
Subsequent to year end the Company closed an $8 million public offering to help fund the Company's growth plans. As at December 31, 2020 (not including the financing subsequent to year-end), VIVO had a cash balance of $5.7 million at the end of the quarter with another $7.0 million held in equity investments.
In November 2020, VIVO announced the planned retirements of both its Chair and the Company's Chief Executive Officer. Mr. Richard Fitzgerald has assumed the role of VIVO's Chair and is acting as interim CEO of VIVO. The Company's search for a permanent CEO is ongoing.
Strategic Priorities
VIVO remains focused on executing against its four strategic priorities. The Company has made significant progress in enhancing supply and production capabilities, expanding its customer network, increasing product innovation and accelerating its international medical business. VIVO believes focusing on these four priorities will generate long-term shareholder value and accelerate the path to profitability.
1. Enhance Supply and Production Capabilities
VIVO continues to adhere to a measured and disciplined approach to capacity expansion and production capabilities by ensuring initiatives pursued are cost effective and will be capable of meeting growing patient and consumer demand.
A new pre-roll machine in Hope has been commissioned and is expected to result in increased output with significant cost reduction.
VIVO completed its first full year of cultivation at its Kimmetts facility, resulting in the largest harvest in the Company's history. The use of airhouse technology results in more reliable cannabis compared with outdoor growing as it mitigates the risk of weather and pest events that can easily destroy an entire outdoor crop. Its benefits over outdoor grow also include improved light quality, controlled air flow and humidity, and the ability to use supplemental heat to extend the growing season as required.
2. Create a Broad and Loyal Customer Network
VIVO has a strong portfolio of brands in both the medical and adult-use markets and is working to position itself as one of the best cannabis companies to interact with from the perspectives of our patients and recreational users as well as our prescription, distribution, and production partners.
VIVO continues to maintain strong market share in the cannabis concentrates space. Canna Farms is known for producing award-winning, BC indoor-grown, craft cannabis flower and newly launched solvent-less extracts and edibles.
VIVO recently released brick hash as part of the Company's Cannabis 2.0 product lineup. Brick Hash is VIVO's second hash concentrate it has introduced to the market following the successful launch of bubble hash in 2020.
In January 2021, VIVO launched its products in the Quebec market and its Canna Farms™ BC Kief brand was the province's first in the kief category.
At the end of 2020, VIVO launched its next generation Fireside™ Blaze, ultra-high THC distillate vape cartridge to consumers in Alberta, which was extracted using state-of-the-art cryo-ethanol extraction and thin film distillation, there are no cutters, fillers, flavours, or additives in this pure, smooth and potent vape option. 3. Build an Innovation-Driven Branded Organization
VIVO has a strong commitment to pursuing innovation throughout its value chain. The Company is also using its robust data insights as a foundation for the development of novel products with a strong competitive edge and high margins.
VIVO expects to release a new line of topicals, VIVO's 10th product format type, initially on its medical platform starting in Q2 2021.
Following Pharmascience Inc.'s receipt of Health Canada's Cannabis Standard Processing License for its Quebec-based facility to formulate and process cannabis and derivative products into finished products, VIVO remains on track to manufacture its first medical cannabis product produced under pharmaceutical quality standards in 2021. VIVO believes that a significant catalyst to increased medical cannabis use is the introduction of new medical-grade, precise-dosed, stable formulations. 4. Accelerate International Medical Business Growth
VIVO continues to pursue its international expansion strategy, leveraging its experience and leadership to enter new high-growth markets. The Company's initial focus is on the German and Australian markets, which, combined, have a population of over 100 million people.
In March 2021, VIVO's Vanluven facility received EU-GMP certification, which allows the Company to export cannabis products for sale in Europe. In addition, VIVO's subsidiary, Beacon Medical Germany GmbH, has received an import license to allow imports of medical cannabis flowers. EU-GMP certification and the import license are required in order to import medical cannabis products from Canada for sale in Germany and other European countries. VIVO now has all required approvals to begin selling its own, Vanluven facility produced, dry flower in Germany.
Beacon Medical Germany is expecting final approval of product from Linneo Health, a Spanish-based EU-GMP certified supplier of pharma-grade cannabis for import to Germany once successful quality results have been obtained.
VIVO's Australian business continues to advance with the Company recording strong revenues in Q4 2020 of $0.9 million and $1.3 million in 2020. VIVO is well positioned to capitalize on this rapidly growing market. Q4 2020 Video
VIVO will provide a Q4 2020 results video on its website at www.vivocannabis.com, which will feature an overview of operations and accompanying photos.
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: www.vivocannabis.com
So the announcement comes just minutes before midnight and the # are pretty underwhelming... can’t say I’m too surprised- good news is sprinkled in and has plenty of potential lol GLTA
NAPANEE, ON, March 11, 2021 /CNW/ – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") today announced that its Vanluven facility in Napanee Ontario has received EU-GMP (European Union Good Manufacturing Practices) certification from Germany’s Brandenburg health authority, the Landesamt für Arbeitsschutz, Verbraucherschutz und Gesundheit ("LAVG"). The certification takes effect immediately and enables VIVO, through its ABcann Medicinals subsidiary, to export product for sale into European and other markets requiring products to be manufactured under the rigorous GMP standards.
At the same time VIVO’s German subsidiary Beacon Medical Germany GmbH received an import licence from the authority to import medical cannabis flowers from Napanee to Germany and the EU.
VIVO’s President of European Operations, Andreas Sander said, "We are very excited about VIVO’s receipt of GMP certification from the German health authority of the state of Brandenburg. This is a major step forward in VIVO’s commitment to expand our medical cannabis business. It will allow us to start to provide patients, physicians and pharmacists with high quality medical cannabis flowers in Germany, the rest of Europe and beyond. It is a significant achievement that will help differentiate VIVO from many of its peers."
VIVO wants to thank the dedication of its GMP team for bringing this multi-year project to this successful milestone. GMP certification requires significant resources to achieve and to maintain. EU-GMP certification will likely provide VIVO the opportunity to pursue distribution opportunities not only in Germany but across the EU and in other global markets in which EU-GMP certification is required for market access. The Company is now working to achieve the first European sales of its Beacon Medical™ products, expected by Q3.
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, or can be interpreted as, 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 that VIVO is expecting to bring its products to market in Europe, that physicians, patients and pharmacists will find value in VIVO products, that GMP certification will provide VIVO the opportunity to pursue additional international distribution opportunities, that GMP certification will help VIVO differentiate itself from its peers, and that it is targeting the first European sales of its products by Q3 2021.
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: VIVO has not yet shipped product to Germany for sale in that market and may be unsuccessful doing so; German physcians have not yet prescribed VIVO products, German pharmacists have not yet dispensed VIVO products, German patients have not yet taken VIVO products. The likelihood of these stakeholders interacting with VIVO products is not yet known; GMP may not provide VIVO with any significant additional international distribution opportunities; and, VIVO may fail to achieve the first European sales of its products by Q3 2021.
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 and nine 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
VIVO Cannabis™ Prices $7 Million Overnight Marketed Public Offering
News Release Issued: Feb 23, 2021 (8:58am EST)
TORONTO, Feb. 23, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) ("VIVO" or the "Company") announced today the pricing of its previously announced overnight marketed public offering (the "Offering") of units of the Company (each, a "Unit" and, collectively, the "Units") at a price of $0.21 per Unit. The underwriters of the Offering have agreed to purchase 33,333,334 Units from the Company for total gross proceeds of approximately $7 million.
VIVO Cannabis Inc. Logo (CNW Group/VIVO Cannabis Inc.)
Each Unit will consist of one common share of the Company (each, a "Common Share") and one half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (a "Warrant Share") for a period of 36 months following the Closing Date (as defined below) at an exercise price of $0.26 per Warrant Share, subject to adjustment in certain events.
The Offering is being conducted by a syndicate of underwriters including ATB Capital Markets Inc. as lead underwriter and sole bookrunner, Clarus Securities Inc., Echelon Wealth Partners and Eight Capital. The Offering is expected to close on or about February 26, 2021, and will be subject to market and other customary conditions, including approval of the Toronto Stock Exchange.
In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the Offering on the same terms and conditions (the "Over-Allotment Option"). The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares, Warrants or Units as determined by the underwriters.
VIVO intends to use the net proceeds of the Offering for general working capital and corporate purposes.
The Units will be offered for sale in each of the provinces of Canada, except Quebec, pursuant to a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated October 2, 2020 (the "Shelf Prospectus") and in the United States on a private placement basis to "qualified institutional buyers" pursuant to Rule 144A or in such other manner as to not require registration under the United States Securities Act of 1933, as amended (the "U.S. Securities Act").
The Prospectus Supplement will be filed today with the securities commissions or similar securities regulatory authorities in each of the provinces of Canada, excluding Quebec, with the pricing and terms of the Offering. The Prospectus Supplement and the Shelf Prospectus contain important detailed information about the Company and the Offering. Prospective investors should read the Prospectus Supplement, the Shelf Prospectus and the other documents the Company has filed before making an investment decision. Copies of the Prospectus Supplement, following filing thereof, and the Shelf Prospectus will be available on SEDAR at www.sedar.com.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Units have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Units may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
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 with proprietary plant-growing technology in Hope, British Columbia and Napanee, Ontario. 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™. The Company is expanding its production capabilities and distribution network. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 100,000 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: www.vivocannabis.com
Disclaimer for Forward-Looking Information:
All dollar amounts in this news release are in Canadian dollars. 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 potential future offerings by the Company, the potential terms of same, the filing of any prospectus supplement with respect thereto, proposed use of proceeds, assuming completion, the anticipated closing date and the satisfaction of all necessary closing conditions, including the approval of the TSX. 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: the Offering may not be completed, the size and terms of the Offering, the satisfaction of the conditions of closing of the Offering, including any required TSX approvals, that there may be no financing available to the Company on satisfactory terms or at all, if and when the Company wishes to draw capital down under the Shelf Prospectus; that the COVID-19 pandemic may last longer and have a more significant impact on the Company's operations, financing abilities, the Canadian cannabis industry, or the global economy generally, than currently expected; 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.
For further information: VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, ir@vivocannabis.com
VIVO Cannabis™ Announces Overnight Marketed Public Offering
News Release Issued: Feb 22, 2021 (5:04pm EST)
TORONTO, Feb. 22, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) ("VIVO" or the "Company") is pleased to announce that it has commenced an overnight marketed public offering of units of the Company (each, a "Unit" and, collectively, the "Units") at an issue price per Unit of $0.21, for gross proceeds of approximately $7 million (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Common Share") and one half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will be exercisable to acquire one Common Share (a "Warrant Share") at an exercise price of $0.26 per Warrant Share for a period of 36 months following the Closing Date (as defined below).
VIVO Cannabis Inc. Logo (CNW Group/VIVO Cannabis Inc.)
The Offering is expected to be priced in the context of the market, with the final terms of the Offering to be determined at the time of pricing pursuant to the terms of an underwriting agreement to be entered into between the Company and ATB Capital Markets Inc., as lead underwriter and sole bookrunner, and a syndicate of underwriters (collectively, the "Underwriters"). There can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. The Offering is expected to close on or about February 26, 2021, and will be subject to market and other customary conditions, including approval of the Toronto Stock Exchange ("TSX").
The Company intends to grant to the Underwriters a 30-day option to purchase up to an additional 15% of the Units offered in the proposed Offering on the same terms and conditions (the "Over-Allotment Option"). The Over-Allotment Option may be exercised in whole or in part to purchase Common Shares, Warrants or Units as determined by the Underwriters.
VIVO intends to use the net proceeds of the Offering for general working capital and corporate purposes.
The Units will be offered for sale in each of the provinces of Canada, except Quebec, pursuant to a prospectus supplement to the Company's short form base shelf prospectus dated October 2, 2020 (the "Shelf Prospectus") and in the United States on a private placement basis to "qualified institutional buyers" pursuant to Rule 144A or in such other manner as to not require registration under the United States Securities Act of 1933, as amended (the "U.S. Securities Act").
No securities regulatory authority has either approved or disapproved of the contents of this news release. The Units have not been and will not be registered under the U.S. Securities Act or any state securities laws. Accordingly, the Units may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
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 with proprietary plant-growing technology in Hope, British Columbia and Napanee, Ontario. 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™. The Company is expanding its production capabilities and distribution network. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 100,000 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: www.vivocannabis.com
Disclaimer for Forward-Looking Information:
All dollar amounts in this news release are in Canadian dollars. 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 potential future offerings by the Company, the potential terms of same, the filing of any prospectus supplement with respect thereto, proposed use of proceeds, assuming completion, the anticipated closing date and the satisfaction of all necessary closing conditions, including the approval of the TSX. 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: the Offering may not be completed, the size and terms of the Offering, the satisfaction of the conditions of closing of the Offering, including any required TSX approvals, that there may be no financing available to the Company on satisfactory terms or at all, if and when the Company wishes to draw capital down under the Shelf Prospectus; that the COVID-19 pandemic may last longer and have a more significant impact on the Company's operations, financing abilities, the Canadian cannabis industry, or the global economy generally, than currently expected; 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.
Whole sector is on fire... as always, I assume this will be the last to move (but now w the GW pharma buy out i find it more likely vivo gets bo- which shld fuel at least some speculation to that effect. They have been keen on precision dosing and production of consistent medicine... which shld be most attractive to any big pharma that wants to capitalize on generic epidiolex as well as other cannabinoid therapies that will now have lobby power in Congress
VIVO Cannabis Announces Entry into Quebec and Provides Adult-Use Business Update 7:00 AM ET 1/4/21 | Dow Jones
TORONTO, Jan. 4, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services and holder of licenses under the Cannabis Act through its wholly-owned subsidiaries, Canna Farms Limited ("Canna Farms") and ABcann Medicinals Inc. ("ABcann"), today announced its products have entered into the Quebec market with Canna Farms(TM) BC Kief as the province's first in the kief category. The Company also provided an update on its adult-use cannabis products across Canada.
"We're excited to bring additional solventless concentrates to consumers across the country," said Carole Chan, Chief Commercial Officer of VIVO Cannabis Inc. "As a leading licensed producer of craft premium cannabis products including concentrates, we look forward to diversifying our product offering in this growing niche category to better serve cannabis connoisseurs across the country."
Canna Farms(TM) Concentrates Available in Quebec
Quebec is the third largest market in Canada and the ninth province where VIVO products are available. Canna Farms(TM) BC Kief is the first in the kief category in Quebec, and through a partnership with provincial logistic partners, VIVO is expediting orders to meet demand both in-store and online.
VIVO Continues Concentrates Category Leadership Position
VIVO continues to maintain its solid market share in the cannabis concentrates space. The most recent publicly available information provided in the Ontario Cannabis Stores Quarterly Report for the period ending September 30, 2020 indicates Canna Farms(TM) and Fireside-X(TM) represent two of the top five leading concentrates brands, with a combined market-leading share of 38% in the category at Ontario retail stores.
Fireside(TM) Blaze Distillate Vape Launches in Alberta
VIVO launched its next generation Fireside(TM) Blaze, ultra-high THC distillate vape cartridge to consumers in Alberta last month. Extracted using state-of-the-art cryo-ethanol extraction and thin film distillation, there are no cutters, fillers, flavours, or additives in this pure, smooth and potent vape option.
Additional Canna Farms(TM) Cultivars Available in British Columbia
VIVO continued to expand its premium dry flower cultivar offering with the addition of three new Canna Farms(TM) listings in British Columbia: CBD Critical Mass, CBD Cannabliss and Cold Creek Kush. VIVO is focused on developing new cultivars and continues to invest in pheno hunting to provide unique genetics to all cannabis markets across its entire portfolio of brands. As the first licensed producer in British Columbia, the Canna Farms(TM) brand was built on a small-batch artisan approach to cannabis cultivation and continues to employ that practice to this day.
About VIVO Cannabis(TM)
VIVO Cannabis(TM) 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(TM), Beacon Medical(TM), Fireside(TM), Fireside-X(TM), Lumina(TM) and Canadian Bud Collection(TM). 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, or can be interpreted as, 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 that VIVO is expediting orders from Société Québécoise du Cannabis (SQDC) stores to meet demand, that its cannabis concentrates continue to do well in the market, and that consumers will find Fireside's store-locator feature useful..
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: orders from Société Québécoise du Cannabis (SQDC) stores may be limited or not materialize at all; that VIVO will not continue to do well in the cannabis concentrates market as new competition enters; that consumers will not find Fireside's store-locator feature useful; ; 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; 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 and nine 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.
It's still possible for a raise, but IF they managed to sell off the "non core assets" they might survive without one for a bit, especially with 5 million plus shares of SKYLIGHT HEATH GROUP which was just up listed to the tsx and is climbing daily currently at 1.35.
They want to do another equity raise. They pulled the announced one after the PPS was cut in half. It has not recovered because everyone knows they want/have to go through with it.
I always thght vivo moved so slow in their expansion back in 2018 and when I saw how ALL the others were completely screwed by over expansion I thght people wld applaud Fishman for not going overboard and holding back. It looked like they had plenty of runway to profitability. I think they may ultimately pull it off without an equity raise to build confidence in their stock. Doesn’t look like insiders are ready to start buying but they ain’t selling their options and leaving in droves either so there is hope
I am learning not to like cannabis companies that aren't shortening the path to profitability and leave open the need for repeated trips to the equity well.
I’m hoping one day, people will wake up to this stock. It’s been a rough couple years lmao! Happy new year, may 2021 be the year VIVO comes alive; as delusional as it sounds- I’ve been thinking of doubling down on another 70k shares to avg down some more only thing stopping me is I can’t trust that they won’t do another raise for .15/share
This should help --->>> VIVO Cannabis™ Announces Entry into Quebec and Provides Adult-Use Business Update
TORONTO, Jan. 4, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services and holder of licenses under the Cannabis Act through its wholly-owned subsidiaries, Canna Farms Limited ("Canna Farms") and ABcann Medicinals Inc. ("ABcann"), today announced its products have entered into the Quebec market with Canna Farms™ BC Kief as the province's first in the kief category. The Company also provided an update on its adult-use cannabis products across Canada.
Vivo Cannabis Logo (CNW Group/VIVO Cannabis Inc.)
"We're excited to bring additional solventless concentrates to consumers across the country," said Carole Chan, Chief Commercial Officer of VIVO Cannabis Inc. "As a leading licensed producer of craft premium cannabis products including concentrates, we look forward to diversifying our product offering in this growing niche category to better serve cannabis connoisseurs across the country."
Canna Farms™ Concentrates Available in Quebec
Quebec is the third largest market in Canada and the ninth province where VIVO products are available. Canna Farms™ BC Kief is the first in the kief category in Quebec, and through a partnership with provincial logistic partners, VIVO is expediting orders to meet demand both in-store and online.
VIVO Continues Concentrates Category Leadership Position
VIVO continues to maintain its solid market share in the cannabis concentrates space. The most recent publicly available information provided in the Ontario Cannabis Stores Quarterly Report for the period ending September 30, 2020 indicates Canna Farms™ and Fireside-X™ represent two of the top five leading concentrates brands, with a combined market-leading share of 38% in the category at Ontario retail stores.
Fireside™ Blaze Distillate Vape Launches in Alberta
VIVO launched its next generation Fireside™ Blaze, ultra-high THC distillate vape cartridge to consumers in Alberta last month. Extracted using state-of-the-art cryo-ethanol extraction and thin film distillation, there are no cutters, fillers, flavours, or additives in this pure, smooth and potent vape option.
Additional Canna Farms™ Cultivars Available in British Columbia
VIVO continued to expand its premium dry flower cultivar offering with the addition of three new Canna Farms™ listings in British Columbia: CBD Critical Mass, CBD Cannabliss and Cold Creek Kush. VIVO is focused on developing new cultivars and continues to invest in pheno hunting to provide unique genetics to all cannabis markets across its entire portfolio of brands. As the first licensed producer in British Columbia, the Canna Farms™ brand was built on a small-batch artisan approach to cannabis cultivation and continues to employ that practice to this day.
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, or can be interpreted as, 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 that VIVO is expediting orders from Société Québécoise du Cannabis (SQDC) stores to meet demand, that its cannabis concentrates continue to do well in the market, and that consumers will find Fireside's store-locator feature useful..
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: orders from Société Québécoise du Cannabis (SQDC) stores may be limited or not materialize at all; that VIVO will not continue to do well in the cannabis concentrates market as new competition enters; that consumers will not find Fireside's store-locator feature useful; ; 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; 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 and nine 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.
For further information: VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, ir@vivocannabis.com
Share buyback? Not anytime soon- they gonna milk the equity market once more when the time is right; then after all the new dilution and a reverse split, they may start buying back stock once they become solvent- not to sound cynical but that’s what I’m bracing for... but let’s hope you are right- sure has been a long time coming and w all the BS they promised, something has got to give: Novel formulation, beverages and other emulsifications, GMP, newly discovered compounds, results from trials in Australia, ramp up of business in Europe w Linneo, (maybe perhaps a Diageo partnership???) SOMETHING! JMJ
This is the year canna farms I debt of purchase is paid off. They are getting a new CEO that is committed for profitability. And I personally am picking up a few thousand here and there. Call me a fool but when other people are scared and selling is the time to slowly buying. The next thing I see them doing is buying their own shares back along with paying down debt once the last payment is made to canna farms. Have a great day.
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might bleed here for a bit unless something comes to light 
