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.
 | |
| Formerly | ABcann Global |
|---|---|
| Industry | Cannabis |
| Headquarters | , |
| Parent | MediPharm Labs Corp. |
| Subsidiaries | Canna Farms, Harvest Medicine |
| Website | vivocannabis |
History
editVIVO 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. (TSX: LABS) in an all-stock deal that resulted in VIVO becoming a subsidiary of MediPharm.[6]
Operations
editThe 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]
References
edit- ^ "ABcann Global announces company name change to VIVO Cannabis". The London Free Press. 2018-08-08. Retrieved 2018-08-26.
- ^ Canada, Health (2018-11-30). "Licensed cultivators, processors and sellers of cannabis under the Cannabis Act". aem. Retrieved 2019-08-12.
- ^ GmbH, finanzen.net. "What it Takes to Thrive in Canada's Multi-Billion-Dollar Marijuana Industry | Markets Insider". markets.businessinsider.com. Retrieved 2018-09-01.
- ^ "VIVO Announces Trading Date for TSX Graduation and Provides Cannabis 2.0 Update" (Press release). Yahoo! Finance. CNW Group. January 23, 2020. Retrieved March 6, 2020.
- ^ "ABcann Cannabis Facility in Napanee in Midst of $30 Million Expansion/". Global News. Retrieved 2018-07-21.
- ^ "MediPharm Labs Corp. Completes Acquisition of VIVO Cannabis Inc. and Confirms Final Ownership Ratio" (Press release). CNW Group. April 3, 2023.
- ^ "VIDEO: VIVO Cannabis (CVE:VIVO) New Recreational Brands". Midas Letter. 2018-08-16. Retrieved 2018-09-01.
- ^ "Company takes serious approach". The Kingston Whig-Standard. 2015-06-24. Retrieved 2018-09-01.
- ^ O'Flanagan, Rob (2016-01-22). "Perfect pot? U of Guelph researchers working to grow marijuana optimally". TheRecord.com. Retrieved 2018-09-01.
- ^ "The week in marijuana deals: Emerald online, ABcann gets clinical and Wheaton goes to Uruguay/". Financial Post. Retrieved 2018-07-22.
- ^ "VIVO Cannabis Acquires Canna Farms for $133 Million in Cash and Stock". New Cannabis Ventures. Retrieved 2018-09-01.
- ^ "Ontario Cannabis Store Secures Supply Agreements with Licensed Producers to Ensure Readiness for Legalization". ocscannabisupdates.com. Retrieved 2018-08-26.
- ^ "Aurora Cannabis Inc. (TSX:ACB) Beats Canopy Growth Corp. (TSX:WEED) in Alberta/". The Motley Fool. Retrieved 2018-07-22.
- ^ "B.C. government announces 31 licensed cannabis producers set to supply the recreational market". Georgia Straight Vancouver's News & Entertainment Weekly. 2018-07-11. Retrieved 2018-09-01.
- ^ "First Licensed Cannabis Delivery". Retrieved 2021-01-21.