NAPANEE, ON, June 19, 2020 /CNW/ - VIVO Cannabis
Inc. (TSX: VIVO), (OTCQX: VVCIF) ("VIVO" or the
"Company") today announced that its subsidiary, Beacon
Medical Australia Pty. Ltd. ("Beacon Medical Australia"),
entered into an agreement with MediPharm Labs Australia Pty. Ltd.
("MediPharm Labs Australia"), a subsidiary of MediPharm Labs
Corp. (TSX: LABS) ("MediPharm Labs"), whereby MediPharm Labs
Australia will supply pharmaceutical-quality (GMP certified),
formulated cannabis oil products to Beacon Medical Australia to
sell into the Australian market.
"VIVO's international efforts remain focused on the emerging
Australian and German markets and we continue to seek out
partnerships with organizations that have proven track records,"
said Barry Fishman, CEO of VIVO.
"For this reason, we are thrilled to be working with MediPharm Labs
to leverage their GMP production capabilities to accelerate our
Australian market presence. We are confident this will allow us to
continue to provide our Australian patients with the medical-grade
products they have come to expect from the Beacon Medical™
brand."
"Just weeks after MediPharm Labs Australia was granted GMP
Certification, we're pleased to announce this agreement that
underscores the burgeoning demand for our specialized skills and
rapid success in converting our opportunity pipeline into tangible,
revenue-generating business," said Warren
Everitt, CEO, Asia Pacific,
MediPharm Labs. "We are excited to be working with VIVO to bring
high quality products to medical consumers across Australia and other emerging markets."
MediPharm Labs is a global leader in specialized,
research-driven pharmaceutical-quality cannabis extraction,
distillation and derivative products. Under the agreement with
Beacon Medical Australia, which has an initial one-year term
subject to renewal, MediPharm Labs Australia will supply a full
range of GMP-certified, formulated CBD and THC cannabis oil
products to Beacon Medical Australia for further distribution under
its own branding.
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 with proprietary plant-growing technology in
Hope, British Columbia and
Napanee, Ontario. 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™. The Company is expanding its production
capabilities and distribution network. Harvest Medicine, VIVO's
patient-centric, scalable network of medical cannabis clinics, has
serviced over 100,000 patient visits. VIVO is pursuing several
partnership and product development opportunities and is focusing
its international efforts on Germany and Australia. The Company has a healthy balance
sheet and is well-positioned to accelerate its path to
profitability. For more information visit: www.vivocannabis.com
Disclaimer for Forward-Looking Information
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.
Forward-looking statements in this news release include statements
that the agreement with MediPharm will accelerate VIVO's Australian
market presence, the range and quality of products VIVO will obtain
from MediPharm, and other benefits it expects to derive from the
agreement. 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: that the Company may not derive the expected
benefits from the MediPharm agreement; that the administrative
processes necessary to terminate the Plan may take longer than
expected; that the COVID-19 pandemic may last longer and have a
more significant impact on the Company's operations, financing
abilities, the Canadian cannabis industry, or the global economy
generally, than currently expected; and other factors beyond the
Company's control. 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 months ended March
31, 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 by
applicable securities laws.
SOURCE VIVO Cannabis Inc.
