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Saturday, December 3, 2022

The Steady Rise of VIVO Cannabis Inc (OTCMKTS: VVCIF)

VIVO Cannabis Inc (OTCMKTS: VVCIF) has been making an explosive move up in recent weeks since the Company completed the acquisition of Canna Farms Limited. VIVO trading volume has exploded with the stock regularly trading several million per day in dollar volume.

VIVO operates in the red hot cannabis market responsible for many of the hottest stocks and biggest winners on the OTCBB. This is a booming sector as legal marijuana sales are expected to grow to more than $20 billion by 2022 according to Marijuana Business Daily. As October 17 looms closer Canadian MJ stocks have been heating up big time.

VIVO Cannabis Inc. (TSX-V: VIVO, OTCQB:VVCIF) is recognized for trusted, high-quality products and services. It holds production and sales licenses from Health Canada, and its world-class indoor cultivation facility in Napanee, Ontario contains proprietary plant-growing technology. VIVO is expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany, Australia and Israel.

The Company’s wholly-owned subsidiary, ABcann Medicals, Inc. is a licensed producer of medical cannabis under the access to cannabis for medical purposes regulations (ACMPR) and its principal business activity is the manufacturing and distribution of medical cannabis under a license by Health Canada. VIVO’s registered office is located at 126 Vnluven Road, Napanee, Ontario K&R 3L2.

VIVO recently completed the acquisition of Canna Farms Limited located in Hope, British Columbia, a premium Licensed Producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulations, and the first Licensed Producer in British Columbia.

The Transaction was accredited to VIVO. For the twelve months ended June 30, 2018, Canna Farms generated unaudited revenue and adjusted EBITDA of $9.4 million and $4.3 million, respectively. For the fiscal year ended September 30, 2017, Canna Farms generated audited revenue of $5.8 million and adjusted EBITDA of $2.8 million.

Canna Farms’ Dealers License, combined with VIVO’s international partnerships and expertise, are expected to expedite the Company’s expansion strategy in international markets, with a focus on Germany and Australia. VIVO also now has increased capacity and scale: Annual fully funded production capacity of 57,000 kilograms, with multiple provincial supply agreements already secured.

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VIVO production capacity is growing: Napanee, ON 1,500 kilograms; Hope, BC 2,700 kilograms; End of 2018 expected capacity: Napanee, ON 5,500 kilograms; Hope, BC 6,900 kilograms; Estimated mid-2020 expected capacity: Napanee, ON 32,500 kilograms, Hope, BC 24,500 kilograms.

In August VIVO announced it has completed an agreement with the Ontario Cannabis Store to supply the province with high-quality cannabis products.  Under the terms of the agreement, VIVO will supply the Ontario market with 16 cannabis products to meet demand in the adult-use recreational cannabis market, set to open on October 17, 2018.

Barry Fishman, CEO of VIVO Cannabis said “The agreement with OCS is a significant milestone and we are confident that cannabis consumers in Ontario will appreciate our high-quality branded products. We are extremely excited to introduce the craft-grown dried flower that will go into our FIRESIDE™ whole bud and pre-rolled products, and to offer our elegantly designed wellness-focused LUMINA™ cannabis oils.”

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Currently trading at a $256 million market valuation VIVO has $129 million (CAD) in the treasury, manageable debt and significant sales when we calculate in the $9 plus million a year Canna Farms brings to the table. VIVO is quickly establishing itself as a leading cannabis company in Canada with annual fully funded production capacity of 57,000 kilograms which is growing fast and multiple provincial supply agreements already secured. There is currently huge demand for VIVO stock and the next few weeks should be very exciting as we get closer to legal recreational cannabis on October 17. We will be updating on VIVO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VIVO.

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Disclosure: we hold no position in VIVO either long or short and we have not been compensated for this article.

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