VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF) on Friday
announced receipt of approval from Health Canada for its wholly-owned
subsidiary, Canna Farms Ltd., to begin cultivation in the expansion of its Yale
Road facility in Hope, BC, resulting in its doubled cultivation capacity in the
province. According to the update, production, product development space and
automated packaging equipment is included in the expansion that is expected to
be incorporated into the facility and brought on-line in mid 2019. The company
expects to commence cultivation in the expanded area in May 2019. “Today’s
approval of the Hope, British Columbia expansion is in addition to the Napanee,
Ontario capacity increase approved by Health Canada yesterday,” VIVO Chief
Executive Officer Barry Fishman said in the news release. “With the additional
cultivation from Hope, VIVO’s current annual production capacity is now more
than 8,000 kilograms with a goal to reach 11,000 kilograms later in 2019.”
To view the full press release, visit http://ibn.fm/egNHm
About VIVO Cannabis(TM)
VIVO Cannabis(TM), based in Napanee, Ontario, is recognized
for trusted, high-quality products and services. It holds production and sales
licenses 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(TM), FIRESIDE(TM), Canna Farms(TM) and Lumina(TM). In August 2018, VIVO
acquired Canna Farms, 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. 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. VIVO also operates Harvest Medicine, a
patient-centric and highly scalable network of specialty medical cannabis
clinics as well as a free telemedicine app. VIVO has a healthy balance sheet
and is well-positioned to accelerate its growth in Canada and internationally.
For more information, visit the company’s website at www.VivoCannabis.com.
NOTE TO INVESTORS: The latest news and updates
relating to VVCIF are available in the company’s newsroom at http://ibn.fm/VVCIF
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