VIVO Cannabis Inc. (TSX.V: VIVO) (OTCQB: VVCIF) this morning
announced the release of its financial statements for the second quarter of
2018. Among the highlights, the company reported revenues of $1.1 million for
the three-month period, marking an approximate four-fold year-over-year
increase. VIVO also looked to the future with a business update, making note of
its recently announced agreement to acquire premium cannabis company Canna
Farms Limited, among other milestones. “Since our last business update
following the release of our Q1 2018 financial statements, we have continued to
enhance our leadership team, and announced the introduction of three new
brands… as well as the re-branding of the Company under the VIVO umbrella,”
Barry Fishman, CEO of VIVO, stated in the news release. “Most significantly, we
announced the planned acquisition of Canna Farms, a successful BC based
Licensed Producer with a long track record of sales growth and profitability.
The acquisition is expected to close shortly, following which, utilizing the
over $100 million in cash we will have following the closing, VIVO will be
well-positioned to accelerate the growth of our business, in Canada and
internationally.”
To view the full press release, visit http://ibn.fm/w65KB
About VIVO Cannabis™
VIVO is recognized for trusted, high-quality products and
services. It holds production and sales licences from Health Canada, and its
world-class indoor cultivation facility in Napanee, Ontario contains
proprietary plant-growing technology. VIVO is expanding its production capacity
and pursuing partnership and product development opportunities domestically, as
well as in select international markets, including Germany, Australia and
Israel. VIVO recently announced that it has entered into a definitive agreement
to acquire 100% of the issued and outstanding share capital of Canna Farms
Limited, a premium cannabis company based in Hope, British Columbia. For more
information, visit the company’s website at www.VIVOCannabis.com
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