NAPANEE, Ontario, Dec. 18, 2018 (GLOBE NEWSWIRE) — VIVO Cannabis Inc. (TSX-V: VIVO, OTCQX: VVCIF) (“VIVO” or the “Company”) is pleased to announce the appointment of Andreas Sander as President, European Operations, and Managing Director of ABcann Germany GmbH, VIVO’s German subsidiary. Mr. Sander will assume the position effective January 1, 2019.
Mr. Sander has accumulated a wealth of leadership experience in the 25 years he has spent in the European pharmaceutical industry. He has held multiple VP and managing director roles with multinational pharmaceutical companies in Western and Eastern Europe, including executive positions at Boston Healthcare International, Sanofi Pasteur, ALK-Abelló and Wyeth Pharmaceuticals. His diverse expertise includes: operational leadership with full P&L responsibility in multiple countries and across various therapeutic areas; marketing strategy and sales execution in established markets; the European launch of multiple new products; the execution of European tender and compliance strategies; and a history of building high performance teams.
“We are thrilled to have Andreas join our leadership team. Executing on our European strategy is one of our key mid-term corporate objectives and he has the experience and entrepreneurial drive to help us achieve our goals,” said Barry Fishman, Chief Executive Officer of VIVO. “Andreas’s specialized expertise in the highly-regulated European pharmaceutical sector will be critical in helping us expand our operations in Europe in 2019.”
As VIVO’s President, European Operations, Mr. Sander is expected to lead the Company’s burgeoning German activities and oversee the expansion of its operations into multiple European markets.
Mr. Sander graduated from Berlin University and is a registered pharmacist. He also holds an MBA from the Wharton School at the University of Pennsylvania and has corporate governance designations from the Kellogg School of Management at Northwestern University and from the Deutsche Börse (German Stock Exchange).
In connection with Mr. Sander’s appointment, the Company has agreed to grant Mr. Sander 300,000 stock options, each of which will be exercisable into one common share in the capital of the Company until December 17, 2023 at a price of $0.76 per share, being the closing price per share on the TSX Venture Exchange on December 17, 2018. The options will vest quarterly over 36 months.
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.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which are statements that are not purely historical, including statements regarding the beliefs, plans, expectations or intentions of VIVO and its management regarding the future. Forward-looking statements in this news release include statements relating to Mr. Sander’s planned role and ability to help the Company extend its operations into multiple European markets. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: (i) that the Company may not be able to obtain necessary cultivation, sales, import, export and/or other necessary licenses necessary to operate in Germany and other European jurisdictions (ii) that the Company may not obtain the expected benefits from Mr. Sander’s appointment; and (iii) other factors beyond the Company’s control. 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, which is available on SEDAR, carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such 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.
CONTACT: More Information Barry Fishman, CEO: barry.fishman@vivocannabis.com Michael Bumby, CFO: michael.bumby@vivocannabis.com Website: vivocannabis.com