ROBLIN, Ontario, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Kenneth Clement announces that, as a result of: (a) the sale by him of an aggregate of 415,700 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 further issuance of Common Shares, his direct and indirect ownership percentage in Common Shares has decreased to less than 10% on a non-diluted basis and a partially diluted basis.
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 25,123,129 Common Shares and 397,728 Warrants representing, in aggregate: (a) approximately 9.30% of the issued and outstanding Common Shares, on a non-diluted basis; and (b) approximately 9.86% 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 291,009,922 as disclosed in the Company’s Management’s Discussion & Analysis dated November 29, 2018).
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.