ABcann Global Corporation (TSX-V: ABCN, OTCQB:
ABCCF) (“
ABcann,” “
VIVO” or the
“
Company”) is excited to announce that, effective
immediately, it will be known as
VIVO Cannabis
Inc. — a contemporary reflection of the Company’s
evolution, purpose and direction. The name change will be effective
at market open on Tuesday, August 7, 2018 and “VIVO” will replace
“ABCN” as the Company’s ticker symbol on the TSX Venture Exchange.
VIVO — which translates to “living” in Latin —
embodies the Company’s commitment to providing quality cannabis
products and services that improve lives. It’s the common thread
that unites us all, and it’s the spirit behind the rebranding. It
also celebrates the recent announcement of the Company’s proposed
acquisition of Canna Farms Limited.
“VIVO is committed to making the most out of
life. Our company tagline — ‘living life’ —
demonstrates our dedication to meeting the needs of our customers
in Canada and internationally with cannabis-based products, both in
the medical and adult-use markets,” says Barry Fishman, CEO of VIVO
Cannabis.
With the emergence of the Canadian adult-use
market, continued focus on the medical cannabis segment and a
growing global opportunity — coupled with a healthy balance sheet
showing $110 million in cash — VIVO is well-positioned for
success.
VIVO’s unwavering focus on customer needs is
demonstrated in the quality of its products, its innovative culture
and its plans for expansion. This customer-centric approach is also
demonstrated in VIVO’s commitment to demonstrating leadership in
the exciting and evolving cannabis industry.
VIVO is a collection of premium brands targeting
unique customer segments and needs. Under the overall corporate
umbrella of VIVO Cannabis Inc. (vivocannabis.com), the Company’s
portfolio includes the following brands:
Beacon Medical: This
standardized pharma-grade cannabis is a superior product that's
clean, consistent and repeatable —qualities sought by physicians
and patients (beaconmedical.ca)- The
Clear Path to Medical Cannabis
Fireside
Cannabis: Tailored to the social user, this
premium cannabis is grown in small batches and undergoes a long
curing process to ensure a smooth final product in three varieties
to suit every gathering
(firesidecannabis.com)-
Tell Your Story, Fireside
Lumina
Wellness: An elegantly designed wellness-focused
cannabis product line, Lumina was created to enhance mindfulness
and self-discovery
(luminawellness.com)-
Wellness, Elevated
In addition, VIVO’s wholly owned subsidiary
Harvest Medicine (hmed.ca) is an established
medical cannabis clinic that provides a highly scalable model. In
less than 18 months of operation at its Calgary clinic, Harvest
Medicine reached a client base of 15,000 active patients through
its patient-centric approach and dedication to providing
exceptional care. The new location in Edmonton is up and running,
and additional locations and the launch of an innovative
purpose-built telemedicine app are planned for the near future.
“ABcann was an early leader in the burgeoning
cannabis industry. As a Licensed Producer since 2014, we have the
experience, the knowledge and the people to create and deliver
superior products,” Fishman says. “As VIVO Cannabis, we embrace the
mission to improve lives, and we’re well-positioned to continue to
be a recognized leader in bringing innovative products and
exceptional customer experience to the market.”
About VIVO Cannabis™
VIVO is recognized for trusted, high-quality
products and services. It holds production and sales licences from
Health Canada, and its world-class indoor cultivation facility in
Napanee, Ontario contains proprietary plant-growing technology.
VIVO is expanding its production capacity and pursuing partnership
and product development opportunities domestically, as well as in
select international markets, including Germany, Australia and
Israel.
VIVO recently announced that it has entered into
a definitive agreement to acquire 100% of the issued and
outstanding share capital of Canna Farms Limited, 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.
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.
Disclaimer for Forward-Looking Information
This news release contains forward-looking
statements, including statements regarding the Company’s proposed
acquisition of Canna Farms; its plans for expansion; the expected
benefits of the name change; and the Company’s position in the
market going forward. The forward-looking statements in this
release are based on certain assumptions and involves known
and unknown risks and uncertainties and other factors that could
cause actual events to differ materially from current assumptions
and expectations, including that the acquisition of Canna Farms
will be successfully completed and that customers will respond
positively to the Company’s name change and product lines. These
forward-looking statements should not be read as guarantees of
future performance or results. Such statements involve known and
unknown risks, uncertainties and other factors that may cause
actual results, performance or achievements to be materially
different from those implied by such statements, including: that
the proposed Canna Farms acquisition may not close on the terms
expected or at all; regulatory impediments to the timing of opening
of the adult use market; changes to industry regulations that are
adverse to the Company; and that customer reception to the
Company’s change of name or product lines may not be as expected. A
more complete discussion of the risks and uncertainties facing the
Company appears in the Company’s Annual Information Form and
continuous disclosure filings, which are available on SEDAR
at www.sedar.com. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this news release. The Company disclaims any
intention or obligation to update or revise any forward-looking
statements as a result of new information or future events, or for
any other reason, other than as required by applicable securities
laws.
Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/2b54e1ad-b3ea-4491-9201-b17ac0eea829
http://www.globenewswire.com/NewsRoom/AttachmentNg/548ad1be-d528-4d6a-9410-6eb71729957b
http://www.globenewswire.com/NewsRoom/AttachmentNg/dfab3e61-0f38-4f1b-9732-987c105bab45
More Information
Barry Fishman, CEO: barry.fishman@vivocannabis.com
Michael Bumby, CFO: michael.bumby@vivocannabis.com
Website: vivocannabis.com
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