VIVO Cannabis (TSX.V: VIVO) (OTCQX: VVCIF) on Wednesday announced its Q1 2019 financial and operating results. Among the updates, the company outlined its strategy for continued capacity expansion and production capabilities, having doubled its annual production capacity at both its Hope, B.C. and Napanee, Ontario facilities in Q1 2019. “The first half of 2019 has been focused on increasing VIVO’s production capacity. With the recent doubling of capacity at both our Canna Farms and Vanluven facilities, we have been very successful in that regard,” VIVO President and CEO Barry Fishman said in the news release. “Our goal has always been to increase long-term shareholder value by establishing ourselves as a premium provider of cannabis products and services. We are lowering our cost per kilogram through increased production capacity, thereby realizing economies of scale.”
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About VIVO Cannabis(TM)
VIVO Cannabis(TM), 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 app. 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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