NAPANEE, ON, June 24, 2020 /CNW/ - VIVO Cannabis Inc.
(TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the
"Company") and its subsidiaries have entered into both a
product supply agreement and a clinic services agreement with
Medical Cannabis by Shoppers™.
Under the terms of the supply agreement, the Company's licensed
producers will offer a broad portfolio of Canna Farms™ and
Beacon Medical™ branded medical cannabis products through the
Medical Cannabis by Shoppers™ online sales platform, including its
latest 2.0 offerings such as chocolates and extracts. VIVO-branded
products will be accessible to Medical Cannabis by Shoppers™
patients across Canada.
"We have a six-year track record of cultivating and producing
high-quality, medical-grade cannabis and are thrilled to partner
with Shoppers Drug Mart Inc." said Barry
Fishman, CEO of VIVO. "VIVO is extremely committed to the
medical cannabis market. We are pleased to be able to
leverage the insights learned from over 100,000 patient visits to
our Harvest Medicine clinics and telemedicine platform. As we
continue to invest in product development to expand our
medical cannabis product line and satisfy unmet patient needs, we
are excited by the prospect of introducing our novel future
offerings to Medical Cannabis by Shoppers™ patients."
Under the terms of the clinic services agreement, the Company's
subsidiary, Harvest Medicine, will provide cannabis education
services to patients who are appropriate candidates for
cannabinoid-based products available from Medical Cannabis by
Shoppers™ and provide consulting services to its Cannabis Care
team.
"As a leading clinic network dedicated to advancing medical
cannabis patient outcomes through quality education, the team of
health care practitioners at Harvest Medicine look forward to
developing a collaborative interdisciplinary approach to medical
cannabis care with Medical Cannabis by Shoppers™," commented
Carole Chan, President of Harvest
Medicine.
About VIVO Cannabis™
VIVO Cannabis™ is recognized for trusted, premium cannabis
products and services. It holds production and sales licences from
Health Canada and operates world-class indoor and seasonal airhouse
cultivation facilities with proprietary plant-growing technology in
Hope, British Columbia and
Napanee, Ontario. VIVO has a
collection of premium brands, each targeting different customer
segments, including Canna Farms™, Beacon Medical™, Fireside™,
Fireside-X™, Lumina™ and Canadian Bud
Collection™. The Company is expanding its production
capabilities and distribution network. Harvest Medicine, VIVO's
patient-centric, scalable network of medical cannabis clinics, has
serviced over 100,000 patient visits. VIVO is pursuing several
partnership and product development opportunities and is focusing
its international efforts on Germany and Australia. The Company has a healthy balance
sheet and is well-positioned to accelerate its path to
profitability. For more information visit: www.vivocannabis.com
Medical Cannabis by Shoppers™
First launched in Ontario in
January 2019, Medical Cannabis by
Shoppers Inc. is a subsidiary of Shoppers Drug Mart. It provides
patient access to numerous medical cannabis products from over 20
licensed cannabis brands. A medical document (similar to a
prescription) can be obtained from a Medical Cannabis by Shoppers
healthcare partner via video call, then medication can be ordered
online or via phone, and is shipped directly and discreetly to
their doorstep. The Shoppers Cannabis Care team – a dedicated call
center staffed by cannabis-trained advisors and pharmacists -
provides counselling and support for patients.
Patients and customers can visit
Shoppersdrugmart.ca/cannabis for more information.
About Shoppers Drug Mart™:
Shoppers Drug Mart is one of the most recognized and trusted
names in Canadian retailing. The company is the licensor of
full-service retail drug stores operating under the name Shoppers
Drug Mart (Pharmaprix in Québec). With almost 1,300 Shoppers
Drug Mart and Pharmaprix stores operating in prime locations in
each province and two territories, the company is one of the most
convenient retailers in Canada. The company also licenses or
owns 47 medical clinic pharmacies operating under the name
Shoppers Simply Pharmacy (Pharmaprix Simplement Santé in Québec),
and provides cosmetic dermatology services at two standalone
locations, the Beauty Clinic. As well, the company owns and
operates 43 corporate Wellwise by Shoppers Drug Mart stores and an
ecommerce site Wellwise.ca, making it the largest Canadian retailer
of home health care products and services. In addition to its
retail store network, the company owns the Company owns Medical
Cannabis by Shoppers Drug Mart Inc., an online platform for the
sale of medical cannabis, Shoppers Drug Mart Specialty Health
Network Inc., a provider of specialty drug distribution, pharmacy
and comprehensive patient support services, and MediSystem Inc., a
provider of pharmaceutical products and services to long-term care
facilities. Shoppers Drug Mart is an independent operating division
of Loblaw Companies Limited.
For further information: pr@loblaw.ca
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
regarding the products and services to be offered to patients of
Medical Cannabis by Shoppers™ and the expected relationship with
Medical Cannabis by Shoppers™. 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: that the products and
services to be offered may not be as expected; that regulatory
changes may impede the relationship between the Company and Medical
Cannabis by Shoppers™; that the COVID-19 pandemic may last longer
and have a more significant impact on the Company's operations,
financing abilities, the Canadian cannabis industry, or the global
economy generally, than currently expected; and 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 management's
discussion and analysis for the three months ended March 31, 2020, 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.
SOURCE VIVO Cannabis Inc.