NAPANEE, Ontario, Sept. 28, 2018 (GLOBE NEWSWIRE) -- VIVO Cannabis Inc. (TSXV: VIVO, OTCQX: VVCIF) (“VIVO” or the “Company”) is pleased to announce that it has signed a multi-year agreement with national cannabis distributor, Green Hedge Education & Distribution Services Ltd. (“Green Hedge”).
Green Hedge will be VIVO’s Canadian sales and distribution partner, providing full coverage to licensed cannabis wholesalers and retailers across Canada.
“After a disciplined selection process, VIVO is thrilled to partner with Green Hedge, a results-driven recreational cannabis distribution team, to represent our key brands, including FIRESIDE™, Lumina™ and Canna Farms™,” commented Barry Fishman, CEO of VIVO.
Green Hedge is led by Andrew von Teichman, an industry-recognized sales and marketing entrepreneur. Mr. von Teichman’s experience includes founding Von Terra Enterprises Ltd, a manufacturer’s representation agency, that has earned six LCBO partnership awards. His previous experience includes three years as the Ontario region sales lead at Constellation Brands and being the co-owner of a Canadian winery.
“We are excited to enter the adult-use, recreational cannabis market as a first-mover, providing VIVO with a socially responsible, national distribution solution that we believe will provide a competitive advantage when recreational cannabis is legalized on October 17, 2018,” said Mr. von Teichman, CEO of Green Hedge.
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 Limited, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has many years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. VIVO 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. In addition, VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics. Harvest Medicine provides best-in-class education and support to over 15,000 patients in its clinics and via its free telemedicine platform. VIVO has a healthy balance sheet with over $100 million in cash and is well-positioned to accelerate the growth of its business, in Canada and internationally.
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 Statements
This news release contains forward-looking statements, including statements regarding Green Hedge’s results driven recreational cannabis distribution team and the competitive advantage that they will provide VIVO when recreational cannabis is legalized on October 17. The forward-looking statements contained in this news release are based on certain assumptions and involve known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations, including that Green Hedge’s team may not achieve the results that they have been able to achieve in the past; that they may not confer upon VIVO any competitive advantage; and other factors beyond the Company’s control. The forward-looking statements contained in this news release should not be read as guarantees of future performance or results. 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 annual information form dated April 30, 2018 and other 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 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.