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Marijuana

VIVO Cannabis Inc (OTCMKTS:VVCIF) Reports Revenues Of $9.5 Million In Q4 2019: Achieves Significant Progress In 2019

VIVO Cannabis Inc (OTCMKTS:VVCIF) has posted revenues of $9.5 million in Q4 2019. It is an increase of 9% when compared to the previous quarter. The company has reported revenues of $31.8 million in 2019. It is an increase of 139% when compared to the previous year. The company’s marketing and sales expenses are higher in 2018 because of the inauguration of the adult-use market in October 2018. It has scaled the marketing efforts mainly because of restrictions imposed on promotional activities and advertising post-legalization.

Higher prices for adult-use and medical dry flower products

Vivo has maintained higher prices for its adult-use and medical dry flower products. The net average selling price per gram is $6.54 in Q4 2019 and $7.02 in 2019. Vivo has derived the majority of the revenues in 2019 from the sale of cannabis products to adult-use retailers, provisional wholesalers, and patients. Harvest medicines contributed to balance 15% to the company’s sales.

Capital spending for 2020

Vivo has paid for the facility expansion projects in 2019. It expects capital spending of $5 million in 2020. The company expects to accrue profits through market expansion overseas and by investing in product development.

Achieves significant progress in 2019

Vivo has achieved significant progress in 2019 in executing the four strategic priorities. Its achievements in 2019 include the introduction of innovative products, expanding the network of loyal customers, and improving production capabilities. The company expedited the initiatives in two high growth markets overseas. It will focus on these four priorities to improve value for the shareholders in the long-term and maintain profitability.

Improves production and supply capabilities

  • The company has focused on capacity expansion, financial stability, and capital stewardship. It also scaled up the production to meet the growing demand from consumers and the patients. In 2020, its internal annual cultivation capacity will remain at 12,000 kg. The company converted some cultivation space in the new and existing facilities for post-harvest activities to meet the evolving needs in the market.
  • It continues full-scale planting activities in Nipanee, Ontario’s seasonal air houses in the spring of 2020.
  • Construction of Canna Farms phase 5, ethanol extraction on large scale, commissioning of pre-roll equipment, and high-speed packaging equipment to minimize unit costs and ramp up production.
  • Achieved significant progress in addressing the observations after the EU-GMP inspection of Vanluven facility.
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Marijuana

VIVO Cannabis Inc (OTCMKTS:VVCIF) Reports An Increase Of In Revenues In Q3 2019: Completes First Harvest From Kimmetts Facility

VIVO Cannabis Inc (OTCMKTS:VVCIF) posted revenues of $6.3 million in Q3 2019. It is an increase of 175% over the same period last year. The company expects to reports a further increase in revenues in Q4 2019 on the backdrop of enhanced licensed capacity.

Meets the demand of the adult-use market

CEO of Vivo, Barry Fishman, said the company focused on meeting the demand for the adult-use market during the first half of the year. The company also meets the needs of medical patients with high-quality products.

Completes the first harvest from Kimmetts facility

Vivo completed the first harvest from the Kimmetts facility based in Napanee, Ontario, after Health Canada awarded a cultivation license. The Kimmetts facility, which sits on an area of 86,000 Sq. Ft. comprises four seasonal airhouse structures. Vivo economically produces good quality cannabis using the advanced technology at Kimmetts facility. It would start the planting activities on a full scale in spring 2020. Health Canada also granted a license that allows Vivo to market cannabis edibles.

Graduates from TSXV to TSX

Vivo is pleased to graduate to TSX from TSXV following the receipt of conditional approval. Fishman said publicly traded companies yearn for listing on the Toronto Stock Exchange (TSX). Getting listed on TSX is a major achievement for Vivo and demonstrates the commitment to improve awareness among the investors. The listing on TSX is subjecting to satisfying certain conditions before or on February 2020. The company would continue to derive rich dividends for the shareholders by improving the sale of premium brands: FireSide, Beacon Medical, Lumina, and Canna Farms.

Gets assistance from CB2 Insights

Vivo receives the assistance of CB2 Insights to develop a global medical product. As per the terms of the accord, CB2 will combine its EDC (Electronic Data Capture) and CDMS (Clinical Data Management Software) tools to help a better understanding of the medical patient registry of Vivo. Both firms will jointly research to validate the efficacy and safety of current medical products.

Chief Executive Officer of CB2, Prad Sekar, said the regulators are emphasizing validating the treatments done using cannabis-derived medicines through conducting clinical trials that help to measure efficacy and safety.

Categories
Marijuana

VIVO Cannabis Inc (OTCMKTS:VVCIF) Awarded Standard Cultivation License By Health Canada For Its Kimmetts Facility

VIVO Cannabis Inc (OTCMKTS:VVCIF) announced a week ago that it received a standard cultivation license from Health Canada, allowing it to increase its capacity through its Kimmetts greenhouses.

The standard cultivation license will allow the company to operate the Kimmetts seasonal greenhouse which is located in Napanee, Ontario. The Kimmetts greenhouse happens to be VIVO Cannabis’ third production facility to receive a license. It also highlights the company’s fast-paced expansion efforts in the state, particularly at the Napanee facility where it has been adding more grow rooms.

The certificate that VIVO Cannabis received for its Kimmetts facility represents a key step for the company in its efforts to offer its medical marijuana portfolio to new markets such as Europe. The facility sits on 86,000 square feet and already has four kimmetts airhouses. VIVO Cannabis expects the facility to add about 4,000 kilograms its production capacity, thus boosting its entire production capacity to more than 12,000 kilograms.

“This approval represents another significant milestone achievement for VIVO and a major step toward helping us reach our business goals,” stated VIVO Cannabis CEO Barry Fishman.

The Napanee operations have prioritized quality and cost-effective production

The CEO also pointed out that he was proud of the Napanee team for focusing on quality and innovative production. He also thanked Health Canada for facilitating an adequate supply of cannabis in the Canadian market.

VIVO Cannabis has been awarded the license at an ideal time considering that it just launched its high-tech Vanluven facility located in Napanee. The facility adds to the company’s extraction capacity and will help the firm to expand its product lines while also expanding its intellectual property. The company expects the Kimmetts facility to deliver high-quality cannabis flowers while also facilitating cost reduction.

VIVO Cannabis is currently the only licensed Canadian cannabis firm that uses airhouse technology. The technology has been gaining traction in the U.S and is already being used in numerous states to facilitate the production of high-quality cannabis. VIVO Cannabis will likely commence planting at the Kimmetts facility as early as possible. Planting early will allow the first harvest before winter.

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