NAPANEE, ON,Â Feb. 11, 2019Â /CNW/ â€“Â VIVO Cannabis Inc.Â (TSX-V: VIVO, OTCQX: VVCIF)Â (â€śVIVOâ€ť or the â€śCompanyâ€ť), a licensed cannabis producer offering premium medical and adult-use products and services, today announces that the Companyâ€™s subsidiary, ABcann Medicinals Inc. (â€śABcannâ€ť), has received approval from Health Canada for its most recent license amendment request allowing for the sale of cannabis oil.
The cannabis oil sales license allows the Company to significantly expand its product lines for medical cannabis patients and adult-use consumers. ABcannâ€™s high-quality oil products are expected to be a core component of the Beacon Medicalâ„˘Â and Luminaâ„˘Â brands, in addition to the cannabis oil already offered by the Companyâ€™s Canna Farmsâ„˘ brand.
We believe that cannabis oil will be the preferred method of treatment for medical cannabis patients and adult-use consumers with specific wellness objectives. The addition of cannabis oil products to our premium medical and adult-use brands will provide consumers with medical-grade products of the high quality VIVO customers have come to expect.
Looking forward, the sales license is expected to accelerate product innovation, leading to a broader product offering for our customers.
Consisting of THC, CBD and balanced THC/CBD oil products, patients and consumers will be able to find the product that best suits them. The CO-2 extracted oils will feature a pharmaceutical-grade MCT carrier and are expected to be sold in a 20 mL format with a graduated dropper and syringe to make dosing precise and easy. Initial concentrations are expected to be in the 20-25 mg/mL range for THC and CBD products, and 10 mg/mL each of THC and CBD for the balanced products.
Mr. Fishman stated, â€śWe remain committed to providing patients and consumers with safe and effective products that address their health and wellness goals and improve their quality of life. The addition of cannabis oil products to our Beacon Medicalâ„˘Â and Luminaâ„˘Â brands is an important step towards a complete portfolio of patient and consumer-centric products and treatments.â€ť
About VIVO CannabisTM
VIVO, based inÂ 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 Medicalâ„˘, FIRESIDEâ„˘, Canna Farmsâ„˘ and Luminaâ„˘. InÂ August 2018, VIVO acquired Canna Farms, a premium cannabis company based inÂ Hope, British Columbia. Canna Farms was B.C.â€™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, includingÂ GermanyÂ andÂ Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a free telemedicine service. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth inÂ CanadaÂ and internationally.