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.