VIVO Cannabis(TM) Subsidiary, Beacon Medical Germany GmbH, Receives First Permit to Import Medical Cannabis from Canada into Germany
Toronto, Ontario--(Newsfile Corp. - July 29, 2021) - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services and holder of licenses under the Cannabis Act through its wholly-owned subsidiaries, Canna Farms Limited ("Canna Farms") and ABcann Medicinals Inc. ("ABcann"), today announced that its EU-GMP/GDP licensed subsidiary Beacon Medical Germany GmbH, has received its first import permit from Germany's BfArM, the Federal Institute for Drugs and Medical Devices (Bundesinstitut für Arzneimittel und Medizinprodukte), allowing the import of Canadian grown dried flower medical cannabis from VIVO's ABcann Medicinal affiliate's GMP-certified Napanee, Ontario site, into Europe.
"We are making great strides towards our first commercialization of product in Europe," commented Ray Laflamme, Canna Farms' Co-Founder and VIVO's Chief Executive Officer. "As a leader in medical cannabis in Canada and Australia, we are delighted by the opportunity to bring our Beacon Medical™ products to market and support the increasing demand from Germany's more than 130,000 medical cannabis clients."
Germany import permits are issued by BfArM on a shipment-specific basis. Following the receipt of an export permit from Health Canada, the Company expects its first shipment of product to Germany, to be sold under the Beacon Medical brand, in late Q3/early Q4.
About VIVO Cannabis™
VIVO Cannabis™ is recognized for trusted, premium cannabis products and services. It holds cultivation, processing 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 Farms™, Beacon Medical™, Fireside™, and Lumina™. Harvest Medicine™, VIVO's client-centric, scalable network of medical cannabis clinics, has serviced over 150,000 client 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.
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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. 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. Readers are urged to consider these factors carefully along with the more extensive risk factors included in the Company's most recent management's discussion and analysis available on SEDAR, 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 hereof and the Company disclaims any intent or obligation to update publicly any such forward‐looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
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