NAPANEE, ON, Nov. 12, 2019 /CNW/ - VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) ("VIVO" or the "Company") is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture Exchange (the "TSXV") and list its common shares on the TSX.
"The TSX is a premier destination for publicly traded companies and this listing represents a significant milestone for VIVO," said Barry Fishman, CEO. "It also demonstrates our long-term commitment to increasing investor awareness and generating shareholder value as we continue to drive sales in our premium family of brands including Canna Farms™, Beacon Medical™, Fireside™ and Lumina."
Final approval of the listing is subject to the Company meeting certain conditions required by the TSX on or before February 6, 2020. Upon receipt of final TSX approval, VIVO's common shares will be delisted from the TSXV and begin trading on the TSX under the symbol "VIVO."
About VIVO Cannabis™
VIVO, based in Napanee, Ontario, is recognized for trusted, premium cannabis products and services. It holds production and sales licenses from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology at its Canna Farms facility in Hope, B.C., and at its Vanluven facility in Napanee, Ontario. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical™, Fireside™, Canna Farms™ and Lumina™. The Company is significantly expanding its production capacity and distribution channels; growing its domestic medical cannabis platform, including Harvest Medicine, its patient-centric, highly scalable network of specialty medical cannabis clinics and services; promoting production and cultivation innovation and pursuing partnership and product development opportunities; and actively focusing on growth in select international markets, including Germany and Australia. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth in Canada and internationally. For more information visit: www.vivocannabis.com
ON BEHALF OF THE BOARD OF DIRECTORS
Barry Fishman CEO and Director
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.
Certain statements in this news release are 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. Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although VIVO believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Factors that could cause actual results to differ materially from those projected in the forward-looking statements include: the ability of VIVO to obtain final TSX approval for the uplisting; changes in the timing and process for delisting the Company's common shares from the TSXV and listing on the TSX; the actual impact of the TSX listing on the Company; changes in general economic, business and political conditions; and other factors beyond the Company's control. 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 by applicable securities laws.
SOURCE VIVO Cannabis Inc.
For further information: VIVO Investor Relations, Michael Bumby, Chief Financial Officer, +1 416-848-9839, [email protected]