Kenneth Clement Reports Change in Equity Interest in VIVO Cannabis Inc. (formerly ABcann Global Corporation)


ROBLIN, Ontario, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Kenneth Clement announces that, as a result of: (a) the sale by him of an aggregate of 264,329 common shares (“Common Shares”) in the capital of VIVO Cannabis Inc. (the “Company”) over the facilities of TSX Venture Exchange (the “Transactions”); and (b) the Company’s issuance of  92.5 million Common Shares in connection with its acquisition of Canna Farms Limited (the “Canna Issuance”), his direct and indirect ownership percentage in Common Shares has decreased.

Following the Transactions, Mr. Clement holds 1,938,292 Common Shares, 145,000 Stock Options, 1,282,873 Warrants, and Linda Smith Family Trust, of which he is the sole trustee, holds 25,538,829 Common Shares and 397,728 Warrants representing, in aggregate: (a) approximately 9.57% of the issued and outstanding Common Shares, on a non-diluted basis; and (b) approximately 10.14% of the issued and outstanding Common Shares, on a partially-diluted basis, as of the date hereof (based on the total issued and outstanding Common Shares of 287,023,689 as disclosed in the Company’s Management’s Discussion & Analysis dated August 29, 2018 and after giving effect to the Canna Issuance as disclosed in the Company’s Material Change Report dated September 10, 2018).

After giving effect to the Canna Issuance, the Transactions represent a decrease of: (a) approximately 4.73% in the ownership of Common Shares by Mr. Clement, on a non-diluted basis; and (b) approximately 5.06% in the ownership of Common Shares by Mr. Clement, on a partially-diluted basis.

Depending on market conditions, Mr. Clement’s view of the Company’s prospects and other factors considered relevant by Mr. Clement, Mr. Clement may acquire additional securities of the Company from time to time in the future, in the open market or pursuant to privately negotiated transactions, or may sell all or a portion of his securities of the Company.

An early warning report in respect of the foregoing has also been filed and is available under the profile of the Company at www.sedar.com.

For more information, contact:

Kenneth Clement
ken.clement126@gmail.com
25 Glennelm Rd, Roblin Ontario K0K 2W0

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.