VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Monday
released its year end and fourth quarter 2019 financial and operating results.
Among the highlights, the Company reported a 139% year-over-year increase in
revenue, with 7% increase in SG&A expenses, successful launch of initial
Cannabis 2.0 products, as well as accelerated growth into Q1 2020. “During the
fourth quarter of 2019, VIVO continued to execute on our strategy, recording
revenue growth, sustaining top-tier prices for our premium products, and
executing a successful launch of Cannabis 2.0 products,” VIVO CEO Barry Fishman
stated in the news release. “We have maintained a disciplined and fiscally
prudent approach, including taking key actions to navigate through the current
COVID-19 pandemic. Going forward, we see several positive catalysts which are
expected to deliver profitable growth, including production expansion,
distribution channel development, entry into high-growth international markets,
and the development and launch of innovative products and services. We are also
pleased to be experiencing increased sales in Q1 2020, supported by our medical
and Cannabis 2.0 products.”
To view the full press release, visit http://ibn.fm/9A0jm
About VIVO Cannabis(TM)
VIVO Cannabis(TM) is recognized for trusted, premium
cannabis products and services. It holds production and sales licenses 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(TM), Beacon Medical(TM),
Fireside(TM), Lumina(TM) and Canadian Bud Collection(TM). 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. The Company has a healthy balance sheet and is
well-positioned to accelerate its path to profitability. For more information,
visit 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
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment