News Release Issued: Mar 20, 2020 (9:28am EDT)
VIVO Cannabis™ provides Update Regarding COVID-19
NAPANEE, ON, March 20, 2020 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO, OTCQX: VVCIF) ("VIVO" or the "Company") today announced the Company, its production facilities and medical clinics are continuing to respond to COVID-19 with changes to internal business practices consistent with the guidelines of public health authorities. As VIVO continues to monitor the COVID-19 pandemic, the health and safety of its customers and employees remains the Company's top priority.
VIVO Cannabis Inc. (CNW Group/VIVO Cannabis Inc.)
"As we navigate this ever-evolving situation, we have implemented several measures to protect our employees, while allowing us to continue to operate our business," said Barry Fishman, CEO of VIVO. "We are continuing to monitor the latest developments and the guidance from government bodies and public health authorities. Our commitment to strong corporate governance, sound business judgement and proactive actions are more important now than ever."
For the past several weeks, VIVO has been actively monitoring COVID-19 developments and taking the necessary precautions for its business. VIVO has encouraged all employees to suspend travel, work from home when possible, and enhanced the use of personal protective equipment to reduce the risk of COVID-19 exposure and spread. The Company has also deployed more rigorous cleaning and sanitization efforts across all of its sites and continues to assess its facilities and clinics as the situation continues to evolve. At present, VIVO's production facilities are continuing operations and have no confirmed cases of COVID-19.
According to a survey of recreational cannabis users conducted by Deloitte, 59% of respondents consume at home alone. Spurred by an environment of uncertainty and anxiety, recent trends indicate that many consumers and patients are stocking-up on product in response to fears of shortages and lack of access. The Company has already seen a short-term increase in sales on its medical platform. Although this is anticipated to be temporary, it demonstrates VIVO's dedication to satisfying consumer and patient needs.
VIVO is doing everything possible for its valued customers, including ensuring that our medical patients will continue to have access to the cannabis products on which they depend. The Company has temporarily suspended all in-clinic visits at its Harvest Medicine centres in Calgary, Edmonton, Moncton and Dartmouth and has expanded its telemedicine platform of phone and video consultations, including its HMED Connect App. The Company's dedicated team of clinicians and educators continue to be available and provide support.
Medical patients can continue to access their treatments across a range of high quality cannabis products from Canna Farms online. VIVO is committed to prioritizing consistent supply of medical cannabis for patients in need during these unprecedented times. If patients have concerns, they should contact the Canna Farms Patient Services teams at info@cannafarms.ca or Harvest Medicine at info@hmed.ca.
