TORONTO, Nov. 30, 2020 /CNW/ - VIVO Cannabis
Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"),
announced today that both Paul
Lucas, Chair and Barry
Fishman, Chief Executive Officer and Director, will be
retiring from the Company effective December
31, 2020.
Mr. Richard Fitzgerald, a current
independent director on the Board and Chair of VIVO's Governance
and Nominating Committee, will assume the role of Chair effective
January 1, 2021 and, during the
process of identifying a permanent CEO, will serve as interim CEO.
Mr. Fitzgerald has decades of experience in consumer insights,
brand building and marketing and will continue to be instrumental
to the Company to transform great products into unrivalled
brands.
"I am especially proud of the Company's transformation over the
past three years to producing and selling high-quality products in
multiple brands (Canna Farms™, Beacon Medical™, Fireside™,
Fireside-X™, Lumina™ and Canadian Bud
Collection™) and operating Harvest Medicine™, a successful
independent clinic network focused on access, education and
research," commented Barry Fishman,
CEO. "I now believe that with the support of our dedicated and
talented team, this is the optimal time to transition to a new CEO
to elevate the Company to the next level."
"It has been a truly unique experience being part of a
brand-new industry in Canada," said Paul Lucas, Chair of the Board. "Like any new
industry the Cannabis business has seen no shortage of
excitement and challenges. After six years on the board of VIVO,
three as Chair, helping to guide it from start-up to a TSX listed
operating company, it is an appropriate time to pass the torch
to new leaders. I was very fortunate to have been part of a team of
very capable and committed Board members, as well as our CEO,
Barry Fishman."
"The entire VIVO family would like to thank Paul and Barry for
their strong leadership and commitment to the Company and wish them
the best in their future endeavors," commented Richard Fitzgerald, incoming Chair. "They both
deserve recognition for their immense contributions, which I
believe have strongly positioned VIVO for long-term profitable
growth. I am very much looking forward to serving as Chair and
interim CEO in the new year as we accelerate the path to positive
cash flow."
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
All dollar amounts in this news release are in Canadian
dollars. 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. 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 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 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 by applicable securities laws.
SOURCE VIVO Cannabis Inc.