NAPANEE, ON, Feb. 19, 2019 /CNW/ - VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) ("VIVO" or the "Company") today announce the appointment of Gary McMullen as Vice President, Napanee Operations. Mr. McMullen will assume his position effective March 4, 2019.
Mr. McMullen joins VIVO with more than 20 years experience in the premium segment of the highly regulated brewing industry. As the president and founder of Muskoka Brewery, Mr. McMullen executed the company's strategy from production to sale. His deep roots in the Canadian craft brewing business also include his role as a founding member of the Canadian Association of Small Brewers and his eight-year tenure as Chairman of the Ontario Craft Brewers Association.
"As we continue to build our team, we look for passionate and driven entrepreneurs who share our commitment to delivering high-quality products and services," said Barry Fishman, Chief Executive Officer of VIVO. "Gary has implemented best-in-class manufacturing processes, crafted premium products and created a company that united its community. We greatly value the legacy he built at Muskoka Brewery and look forward to working closely with this distinguished leader."
Mr. McMullen holds a Bachelor of Engineering (Engineering and Management) degree from the Royal Military College of Canada; a Strategic Marketing Management diploma from Harvard University; graduated from Queen's University's Executive Leadership Program, and is a Fellow of the 2014 Quantum Shift program run by the Ivey School of Business.
In connection with Mr. McMullen's appointment, the Company has agreed to grant Mr. McMullen 275,000 stock options, each of which will be exercisable into one common share in the capital of the Company until February 9, 2024 at a price of $0.91 per share. The options will vest quarterly over 36 months.
About VIVO Cannabis™
VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licences 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™, FIRESIDE™, Canna Farms™ and Lumina™. 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE VIVO Cannabis Inc.
For further information: VIVO Investor Relations, Heidi Christensen Brown, [email protected], +1.416-848-1389, NATIONAL Capital Markets; Michael Bumby, Chief Financial Officer, [email protected], VIVO Cannabis Inc.