NAPANEE, Ontario, Dec. 12, 2018 (GLOBE NEWSWIRE) — VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) (“VIVO” or the “Company”) today announced that it has granted, effective today, an aggregate of 2,790,500 stock options (each, an “Option”) to certain directors, officers, employees and consultants of the Company in accordance with the Company’s stock option plan. Each Option is exercisable into one common share in the capital of the Company (each, a “Share”) at a price of $0.89 per Share, being the closing price of the Shares on the TSX Venture Exchange on December 11, 2018, for a period of five years from the date of grant. The Options will vest in equal quarterly instalments over 36 months. Including this grant of Options, the Company has granted less than 50% of the Options available for grant under its stock option plan.
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 soon to be released free telemedicine app. VIVO has a healthy balance sheet with and is well-positioned to accelerate the growth of our 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.
CONTACT: More Information Barry Fishman, CEO: [email protected] Michael Bumby, CFO: [email protected] Website: vivocannabis.com
