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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