NAPANEE, ON, October 5, 2018 (GLOBE NEWSWIRE) – VIVO Cannabis Inc. (TSXV:VIVO, OTCQX: VVCIF) (“VIVO” or the “Company”), through its wholly owned subsidiary ABcann Medicinals Inc., and Loyalist College’s Applied Research Centre for Natural Products and Medical Cannabis (ARC) have entered into an applied research agreement to investigate and develop innovative processes for the extraction and formulation of cannabis oil for commercialization.
By partnering with Loyalist, VIVO aims to develop optimized processes for extraction, expand its capacity to develop new products, and contribute to unique and advanced experiential learning opportunities for students while preparing them to become future leaders in the Canadian cannabis industry.
VIVO and Loyalist’s ARC intend to achieve the following objectives as part of this agreement:
- Investigate new processes and technologies to increase the efficiency of producing high-quality, well-characterized medical cannabis oil for commercialization;
- Facilitate applied research projects in extraction and testing;
- Investigate opportunities for new product formats and formulations for commercialization; and
- Implement experiential learning opportunities at VIVO that allow Loyalist students to apply and advance their industry knowledge.
“VIVO is excited to enter into this collaboration with Loyalist,” said Jaipaul Massey-Singh, VP of Product Development and Supply at VIVO. “The changes in our industry are rapid and dynamic, and to be successful it’s critical that we not only seek ways to innovate in the present but also foster future innovation. We believe our agreement with Loyalist will be highly beneficial for both organizations and look forward to collaborating on a range of projects that will allow students to contribute to our growth while we all learn and continue to produce the highest quality products for our customers.”
“We look forward to investigating new processes and technologies with VIVO,” said Ann Drennan, Senior Vice-President Academic and Chief Learning Officer. “This collaboration gives Loyalist students the opportunity to gain hands-on experience in green technologies while working with an industry partner in the cutting-edge cannabis oil industry.”
About Loyalist College’s Applied Research and Innovation Department
Currently, Loyalist is the only College in Canada and the only Ontario academic institution to have a laboratory approved to conduct research activities with cannabis under the Narcotic Control Regulations, as listed on the Government of Canada’s website. Through Loyalist’s Applied Research and Innovation Department, the College collaborates with industry partners in various fields on applied research projects, creating amazing learning experiences for students and faculty of all disciplines. The College has had success with funding support through Ontario Centres of Excellence (OCE) and the Natural Sciences and Engineering Research Council of Canada (NSERC) on a variety of projects. This allows Loyalist to increase capacity to work with local industries and businesses, support faculty who are committed to conducting research and to facilitating student research experiences. It has increased the capacity of Ontario industries to conduct applied research and attract new investors, stimulating innovative product development and job creation in the region. For more information, visit loyalistcollege.com.
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 Limited, 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 new free telemedicine app providing best-in-class education and support to over 15,000 patients. VIVO has a healthy balance sheet with over $100 million in cash and is well-positioned to accelerate the growth of our business, in Canada and internationally.
Barry Fishman, CEO VIVO Cannabis: firstname.lastname@example.org
Michael Bumby, CFO VIVO Cannabis: email@example.com
Kerry Lorimer, Director of Marketing, Communications & Recruitment: firstname.lastname@example.org
ON BEHALF OF THE BOARD OF DIRECTORS
Barry Fishman (CEO and Director)
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Disclaimer for Forward-Looking Statements
Certain statements in this news release may be considered 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 the intended objectives and expected benefits of the collaboration with Loyalist. 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 the possibility that the collaboration with Loyalist will not be successful or that VIVO may not derive the expected benefits from the collaboration including with respect to the Company’s ongoing product development efforts. 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 and other continuous disclosure filings, which are available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on these 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.