VIVO Cannabis™ announces Health Canada approval for Napanee expansion, doubling production capacity in Ontario
NAPANEE, ON, March 21, 2019 – VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) (“VIVO” or the “Company”) today announced that the Company’s wholly-owned subsidiary, ABcann Medicinals Inc., has received approval from Health Canada to begin cultivation in the expansion of its Vanluven Road facility in Napanee, resulting in a doubling of the Company’s Ontario cultivation capacity. Cultivation in the expanded area will commence immediately.
The expansion includes production and product development space built to GMP standards. A supercritical CO2 extraction suite for production of concentrates has been incorporated into the facility and is expected to be brought on-line mid 2019. VIVO’s current production capacity is now over 5,000 kilograms and is anticipated to further increase to 11,000 kilograms later in 2019 following the completion and licensing of on-going, fully-funded expansion projects in Hope, B.C. and Napanee, Ontario. This capacity will be augmented by several thousand additional kilograms sourced from third-party cultivators that meet VIVO’s rigorous quality standards.
Through our internal expansion projects (including indoor facilities, seasonal greenhouses and outdoor growing) and certified third-party partners, we are well-positioned to increase our offering of premium products in Canada’s medical and adult-use markets, including launching new formats such as edibles, concentrates and precisely-dosed medical products when they are permitted by regulations.
The GMP certification of our Vanluven expansion, expected later this year, will enable us to service the growing international medical cannabis market. We are excited to build on our success by introducing new high-margin, value-added products which leverage our increased production capabilities and tap into the user insights gained from our vast Harvest Medicine Clinic patient network.
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.