VIVO Cannabis explained

VIVO Cannabis Inc.
Former Name:ABcann Global
Industry:Cannabis
Hq Location City:Napanee, Ontario
Subsid:Canna Farms, Harvest Medicine
Parent:MediPharm Labs Corp.
Location Country:Canada

VIVO Cannabis Inc (formerly ABcann Global)[1] is a Canadian licensed cannabis producer, headquartered in Napanee, Ontario. Prior to being acquired by MediPharm Labs Corp., VIVO traded on the Toronto Stock Exchange as VIVO.

History

VIVO received two of the first 15 licences by Health Canada in 2014.[2] It became a publicly traded company in April 2017 on the TSX Venture Exchange. In August 2017, the company received a $15 million investment by Cannabis Wheaton to fund the second production facility at its 65-acre property in Napanee.[3] Effective January 24, 2020, the company's stocks were moved from the TSX Venture Exchange to the Toronto Stock Exchange.[4] [5] In April 2023, VIVO merged with TSX-listed MediPharm Labs Corp. in an all-stock deal that resulted in VIVO becoming a subsidiary of MediPharm.[6]

Operations

The company has three cannabis brands: Beacon Medical, Fireside and Lumina.[7] The products are grown using seeds from the Netherlands, and a computerized process where each plant is controlled and monitored.[8] The company has a comprehensive research partnership with the University of Guelph to enhance cannabis production and uses.[9]

In February 2018, VIVO acquired Harvest Medicine Inc, a medical cannabis clinic with 9,700 patients.[10] In August 2018, they acquired Canna Farms, a licensed producer located in Hope, British Columbia.[11]

VIVO works with the Ontario Cannabis Store[12] and the Alberta Gaming, Liquor, and Cannabis Commission[13] as a supplier of recreational marijuana to Ontario and Alberta. Canna Farms, a VIVO subsidiary, is a supplier of recreational marijuana to British Columbia through the B.C. Liquor Distribution Branch.[14] [15]

External links

Notes and References

  1. News: ABcann Global announces company name change to VIVO Cannabis. 2018-08-08. The London Free Press. 2018-08-26. en-US.
  2. Web site: Licensed cultivators, processors and sellers of cannabis under the Cannabis Act. Canada. Health. 2018-11-30. aem. 2019-08-12.
  3. News: What it Takes to Thrive in Canada's Multi-Billion-Dollar Marijuana Industry Markets Insider. GmbH. finanzen.net. markets.businessinsider.com. 2018-09-01.
  4. VIVO Announces Trading Date for TSX Graduation and Provides Cannabis 2.0 Update . . . January 23, 2020 . March 6, 2020.
  5. Web site: ABcann Cannabis Facility in Napanee in Midst of $30 Million Expansion/. Global News. en. 2018-07-21.
  6. MediPharm Labs Corp. Completes Acquisition of VIVO Cannabis Inc. and Confirms Final Ownership Ratio . April 3, 2023 . CNW Group.
  7. News: VIDEO: VIVO Cannabis (CVE:VIVO) New Recreational Brands. 2018-08-16. Midas Letter. 2018-09-01. en-US.
  8. News: Company takes serious approach. 2015-06-24. The Kingston Whig-Standard. 2018-09-01. en-US.
  9. News: Perfect pot? U of Guelph researchers working to grow marijuana optimally. O'Flanagan. Rob. 2016-01-22. TheRecord.com. 2018-09-01. en-CA.
  10. Web site: The week in marijuana deals: Emerald online, ABcann gets clinical and Wheaton goes to Uruguay/. Financial Post. en. 2018-07-22.
  11. Web site: VIVO Cannabis Acquires Canna Farms for $133 Million in Cash and Stock. New Cannabis Ventures. en-US. 2018-09-01.
  12. Web site: Ontario Cannabis Store Secures Supply Agreements with Licensed Producers to Ensure Readiness for Legalization. ocscannabisupdates.com. en-US. 2018-08-26.
  13. Web site: Aurora Cannabis Inc. (TSX:ACB) Beats Canopy Growth Corp. (TSX:WEED) in Alberta/. The Motley Fool. en. 2018-07-22.
  14. News: B.C. government announces 31 licensed cannabis producers set to supply the recreational market. 2018-07-11. Georgia Straight Vancouver's News & Entertainment Weekly. 2018-09-01. en.
  15. News: First Licensed Cannabis Delivery. 2021-01-21. en.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "VIVO Cannabis".

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