VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF), an Ontario-based cannabis company recognized for its premium products and services, this morning announced that it has granted, effective today, an aggregate of 3,364,500 stock options (each, an “Option”) to certain directors, officers, employees and consultants of the company in accordance with the company’s stock option plan. Per the update, for a period of five years from the date of grant, each Option is exercisable into one common share in the capital of the company (each, a “Share”), each at a price of $0.215, being the closing price of the Shares on the TSX Venture Exchange on December 11, 2019. This is a normal-course grant that comprises part of the company-provided long-term compensation and employee retention incentives.
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About VIVO Cannabis(TM)
VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licenses 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(TM), FIRESIDE(TM), Canna Farms(TM) and Lumina(TM). 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 free telemedicine service. VIVO has a healthy balance sheet and is well-positioned to accelerate its growth in Canada and internationally. For more information, visit the company’s website at www.VivoCannabis.com.
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