18:17:57 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



Vivo Cannabis Inc
Symbol VIVO
Shares Issued 294,229,654
Close 2019-05-21 C$ 0.66
Market Cap C$ 194,191,572
Recent Sedar Documents

Vivo adds GreenTec to medical pot platform

2019-05-21 19:47 ET - News Release

Mr. Barry Fishman reports

VIVO ADDS NEW CRAFT PRODUCER GTEC HOLDINGS INC. AND ADDITIONAL PURE SUN FARMS PRODUCTS TO ON-LINE MEDICAL CANNABIS PLATFORM

Vivo Cannabis Inc., through its wholly owned subsidiary, Canna Farms Ltd., has added GTEC Holdings Ltd., sold under the brand GreenTec, to the list of licensed producers selling products on its medical cannabis platform.

This addition expands the variety of quality products available to medical patients on Canna Farms' newly launched medical cannabis website, which is now the largest on-line platform for medical cannabis users across Canada. Combining the company's Beacon, Lumina and Canna Farms brands, and products from additional third party cultivators, including Pure Sun Farms and GreenTec, into one store offers a distinct advantage for patients looking for a single location to access a broad selection of medical cannabis products. Based on the most recently available Health Canada statistics, sales on the site represent 9 per cent of the medical market's dried cannabis sales, making Canna Farms' integrated medical cannabis platform the sixth-largest medical cannabis supplier in Canada.

"The success of the integrated store has allowed Vivo to partner with quality brands that cater to discerning medical cannabis patients. Discussions continue with additional craft cultivators and LPs wanting to position themselves alongside market leaders but lacking a sales licence and/or the required expertise to enter the medical market," said vice-president of Canna Farms, Brian McDonald. "We continue to streamline our processes to support our continual improvement and cost reduction strategies, which is key to ensuring fresh product at competitive prices. We also have the combined resources needed to register patients looking for a broad selection of products in one place extremely efficiently, part of our ongoing commitment to the medical cannabis market."

Barry Fishman, chief executive officer of Vivo, stated: "Supplying the medical market with high-quality standardized cannabis has always been a primary focus for Vivo. We are proud to say that we now offer the widest range of medical cannabis products in Canada."

About Vivo Cannabis Inc.

Vivo, based in Napanee, Ont., 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. The company 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.

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