VIVO Cannabis

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VIVO Cannabis

Vertically integrated cannabis business supporting health & well-being; subsidiary of MediPharm Labs

04/03/2023

MediPharm Labs and VIVO Cannabis Inc. are pleased to announce MediPharm has acquired all of the issued and outstanding common shares of VIVO in an all-equity business combination transaction effective April 1, 2023.

"We are very excited to be starting a new chapter in the evolution of MediPharm Labs. VIVO is a strong cultural fit, and a great strategic fit. Together the two organizations have a much clearer path to profitability. I want to welcome all the VIVO employees and thank the teams on both sides that worked over many months to help bring us together," said David Pidduck, Chief Executive Officer of MediPharm.

As a result of the Arrangement, VIVO has become a wholly-owned subsidiary of MediPharm, and the VIVO Shares are anticipated to be de-listed from the Toronto Stock Exchange on or about April 4, 2023.

VIVO shareholders are entitled to receive 0.2910 of a common share of MediPharm in exchange for each VIVO Share held immediately prior to closing of the Arrangement. In aggregate, MediPharm issued approximately 107,930,964 MediPharm Shares pursuant to the Arrangement to former VIVO shareholders as consideration for their VIVO Shares. The Combined Company is owned approximately 73.1% by former MediPharm shareholders and approximately 26.9% by former VIVO shareholders.

Read more here: https://bit.ly/MediPharmLabsCompletesAcquisition

03/28/2023

Earlier today, we announced our Q4 2022 results. A brief overview:

🔹 Net revenue for Q4 2022 was $7.1 million, a 15% increase from prior quarter
🔹 Net revenue for 2022 was $25.4 million, a 2% increase compared to 2021
🔹 Net losses have decreased by $21.2 million in 2022, a 30% decrease from the prior year
🔹 The Company signed a definitive agreement with MediPharm Labs Inc. whereby MediPharm has agreed to acquire VIVO Cannabis Inc. in an all-equity business combination transaction

For a Business Update and more, head to the link below:
https://bit.ly/VivoQ42022

03/28/2023

Last week, the Shareholders approved a special resolution authorizing a plan of arrangement pursuant to which MediPharm Labs Corp. will acquire all of the issued and outstanding common shares of VIVO in an all-equity business combination transaction, and a special resolution authorizing a related reduction in the stated capital of the Shares. A final court order from the Ontario Superior Court of Justice has since been obtained, approving the previously announced plan.

More info can be found here: https://bit.ly/MediPharmArrangement

12/22/2022

Today we've announced that MediPharm Labs Corp. is set to acquire VIVO Cannabis Inc.

For full details, terms of the transaction, some highlights, commentary, and more, head to the link below:
https://bit.ly/MediPharmAcquisition

11/16/2022

Earlier this week, we announced our Q3 2022 results. A brief overview:

🔹 Net revenue for Q3 was $6.2 million, a 19% increase from prior quarter

🔹 International sales reached $2.5 million

🔹The Company entered into a third supplement to the indenture for its debentures to extend their maturity to 2024

🔹 Subsequent to the quarter-end, the Company recognized $8.8 million of deferred revenue as Other income as part of dismissed arbitration matter

For a Business Update and more, head to the link below:
http://bit.ly/Q3results2022

10/03/2022

Today, we announced, further to our news on September 19, that we have entered into a third supplemental debenture indenture with TSX Trust Company in respect of its outstanding unsecured convertible debentures in the aggregate principal amount of $5,546,808.

The Supplemental Indenture provides for, among other things:

🔹 the extension of the maturity date from September 15, 2022 to September 15, 2024,

🔹an increase of the interest payable on the Debentures from 6.0% to 10.0%, and

🔹the prepayment of Debentures in the aggregate principal amount of $3 million, on a pro rata basis, in $500,000 installments.

Read more about the amendments to the Debentures by visiting the link below: https://bit.ly/SupplementalDebentureIndenture

09/20/2022

Earlier this week, we announced that we have entered into an agreement with the majority beneficial owner of our outstanding unsecured convertible debentures in the aggregate principal amount of $5,546,808 to amend the terms of the Debentures.

The proposed Amendments provide for, among other things:

🔹 the extension of the maturity date from September 15, 2022 to September 15, 2024,

🔹 an increase of the interest payable on the Debentures from 6.0% to 10.0%, and

🔹 the prepayment of Debentures in the aggregate principal amount of $3 million, on a pro rata basis, in $500,000 installments.

Read more about the agreement by visiting the link below: https://bit.ly/September2022Debentures

09/16/2022

Recent wildfires in Hope, BC have come dangerously close to our Canna Farms facility, though we’re happy to report everyone and everything at Canna Farms is safe.
Our team wants to send sincere gratitude to both the Hope Fire Department, and BC Wildfires, who have informed us they are reasonably confident we are now in the clear.
We’ll keep you informed if the situation progresses.

08/16/2022

Yesterday, we announced our Q2 2022 results. A brief overview:

🔹 Net revenue for Q2 2022 was $5.2 million

🔹 Company announced that Canna Farms received a Research Licence from Health Canada in June, 2022

🔹 Australian sales were delayed due to new regulatory requirements

🔹 Company continues to grow sales in Germany completing the 5th export of dry flower from its EU-GMP certified facility in Napanee, ON

You can read more about our Q2 2022 results by visiting the link below:
https://bit.ly/Q2results2022

07/25/2022

Last week, we announced that Canna Farms has received a Research License from Health Canada allowing it to possess cannabis for the purpose of research.

🔹The Research License allows Canna Farms to evaluate its medical cannabis products based on taste, smell, feel and visual appeal for research purposes prior to sales of these products.

🔹The Research License also allows Canna Farms to evaluate the products of strategic partners and third-party manufacturers sold on its curated medical e-commerce marketplace.

You can read about the Research License from Health Canada by visiting the link below:
https://www.vivocannabis.com/press-releases/vivo-cannabis-announces-canna-farms-granted-research-licence-by-health-canada/

07/04/2022

Last week, we announced the results of the 2022 AGM.

🔹 Shareholders approved fixing the number of directors at five, and the election of Ray Laflamme, Glen Huber, Shai Altman, Eric Shipman and Holly Workman as directors of the Company.

🔹 The board has also appointed the following officers of the Company, all of whom are previous officers of VIVO:
Ray Laflamme - Chief Executive Officer
Michael Bumby - Chief Financial Officer
Carole Chan - Chief Commercial and People Officer, and President, Harvest Medicine
Mariana Fonar - General Counsel and Corporate Secretary
Andreas Sander - President, European Operations

🔹 In addition, the Company's shareholders approved the appointment of MNP LLP as auditor of the Company for the 2022 fiscal year.

🔹 Read more about the AGM by visiting the link below.

https://www.vivocannabis.com/press-releases/vivo-cannabis-announces-results-of-2022-agm-and-election-of-new-directors/

Address

Hope, BC

Website

https://www.vivocannabis.com/

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