NAPANEE, ON, March 11, 2021 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company") today announced that its Vanluven facility in Napanee Ontario has received EU-GMP (European Union Good Manufacturing Practices) certification from Germany's Brandenburg health authority, the Landesamt für Arbeitsschutz, Verbraucherschutz und Gesundheit ("LAVG"). The certification takes effect immediately and enables VIVO, through its ABcann Medicinals subsidiary, to export product for sale into European and other markets requiring products to be manufactured under the rigorous GMP standards.
At the same time VIVO's German subsidiary Beacon Medical Germany GmbH received an import licence from the authority to import medical cannabis flowers from Napanee to Germany and the EU.
VIVO's President of European Operations, Andreas Sander said, "We are very excited about VIVO's receipt of GMP certification from the German health authority of the state of Brandenburg. This is a major step forward in VIVO's commitment to expand our medical cannabis business. It will allow us to start to provide patients, physicians and pharmacists with high quality medical cannabis flowers in Germany, the rest of Europe and beyond. It is a significant achievement that will help differentiate VIVO from many of its peers."
VIVO wants to thank the dedication of its GMP team for bringing this multi-year project to this successful milestone. GMP certification requires significant resources to achieve and to maintain. EU-GMP certification will likely provide VIVO the opportunity to pursue distribution opportunities not only in Germany but across the EU and in other global markets in which EU-GMP certification is required for market access. The Company is now working to achieve the first European sales of its Beacon Medical™ products, expected by Q3.
About VIVO Cannabis™
VIVO Cannabis™ is recognized for trusted, premium cannabis products and services. It holds production and sales licences from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms™, Beacon Medical™, Fireside™, Fireside-X™, Lumina™ and Canadian Bud Collection™. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 150,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. For more information visit: vivocannabis.com
Disclaimer for Forward-Looking Information
Certain statements in this news release are, or can be interpreted as, forward-looking statements, which are statements that are not purely historical, including statements regarding the beliefs, plans, expectations or intentions of VIVO and its management regarding the future. Forward-looking statements in this news release include that VIVO is expecting to bring its products to market in Europe, that physicians, patients and pharmacists will find value in VIVO products, that GMP certification will provide VIVO the opportunity to pursue additional international distribution opportunities, that GMP certification will help VIVO differentiate itself from its peers, and that it is targeting the first European sales of its products by Q3 2021.
Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: VIVO has not yet shipped product to Germany for sale in that market and may be unsuccessful doing so; German physcians have not yet prescribed VIVO products, German pharmacists have not yet dispensed VIVO products, German patients have not yet taken VIVO products. The likelihood of these stakeholders interacting with VIVO products is not yet known; GMP may not provide VIVO with any significant additional international distribution opportunities; and, VIVO may fail to achieve the first European sales of its products by Q3 2021.
No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company's management's discussion and analysis for the three and nine months ended September 30, 2020, which is available on SEDAR, carefully in evaluating the forward-looking statements contained in this news release, and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required
SOURCE VIVO Cannabis Inc.
For further information: VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, [email protected]