VIVO Announces Board Changes

Annual and Special Meeting Proceeding as Scheduled

Toronto, Ontario--(Newsfile Corp. - July 5, 2021) - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services, today announced that John Easson, Christie Henderson, Daryl Kramp and Rick Fitzgerald (whose temporary appointment as Interim Chief Executive Officer ended as of June 30, 2021) have resigned as directors of the Company, effective immediately, and have withdrawn their nominations to be elected as directors at the annual and special meeting of the shareholders of VIVO scheduled for 11:00 a.m. (Eastern time) today.

These resignations are related to strategic differences between the departing directors and the Company's largest shareholders. The resignations are not related to the Company's financial performance, liquidity or regulatory standing, and no material impact is expected on the Company's current operations.

Ray Laflamme, President of the Company's wholly-owned subsidiary, Canna Farms Limited, and VIVO's remaining director, stated, "On behalf of VIVO, I would like to thank each of the former directors for working closely with the Company during their tenure. They have served VIVO well and their considerable contributions are very much appreciated."

The annual and special meeting will proceed as scheduled today. VIVO anticipates that an additional announcement will be made about the new composition of the board of directors following the meeting.

About VIVO CannabisTM

VIVO CannabisTM is recognized for trusted, premium cannabis products and services. It holds production and sales licences from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities. VIVO has a collection of premium brands, each targeting different customer segments, including Canna FarmsTM, Beacon MedicalTM, FiresideTM, and LuminaTM. Harvest MedicineTM, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 150,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. For more information visit: www.vivocannabis.com.

For further information:

VIVO Investor Relations
+1 416-848-9839
ir@vivocannabis.com

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Disclaimer for Forward-Looking Information

Certain statements in this news release are forward-looking statements, which are statements that are not purely historical, including statements regarding the beliefs, plans, expectations or intentions of VIVO and its management regarding the future, including statements regarding the expected impact of the director changes on the Company's operations and the timing of future announcements. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the impact of the director changes may be different than management currently anticipates; that events may occur which impact the timing of future announcements by the Company; and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors, and the more extensive risk factors included in the Company's management's discussion and analysis for the three months ended March 31, 2021, which is available on SEDAR, carefully in evaluating the forward-looking statements contained in this news release and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements. The forward-looking statements in this news release are made as of the date of this news release and the Company disclaims any intent or obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89363

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