NAPANEE, Ontario, Sept. 24, 2018 (GLOBE NEWSWIRE) — VIVO Cannabis Inc. (TSX-V: VIVO, OTCQB: VVCIF) (“VIVO” or the “Company”) is pleased to announce the launch of its Beacon Medical™ website, its coverage of the excise tax on cannabis purchases, and an affiliation with Strainprint Technologies Ltd.
Beacon Medical™ Website and Roadshow
The Beacon Medical™ website was launched on September 21, 2018 (www.beaconmedical.ca) and has been designed to help patients, referring physicians, and caregivers navigate the somewhat complex medical cannabis market.
“Beacon Medical™ aims to provide a clear path to understanding medical cannabis,” noted Sung Kang, Chief Marketing Officer at VIVO. “We have upgraded our website to make it easier to navigate and shop, created new, more inclusive discount programs, and created a new system of classifying and naming products called Beacon Cannatypes™, simple categories that help consumers of all levels of cannabis experience to select from the hundreds of strains of cannabis available in Canada.”
To educate and promote the new brand, VIVO is conducting ‘Beacon Road Shows’ in Edmonton, Calgary, Toronto and Ottawa this fall. Engaged members of the medical cannabis community, including cannabis clinic staff, physicians, nurse practitioners and researchers, will attend these events and learn about the Beacon Medical™ brand. They will also hear from experts in the scientific community including Professor Raphael Mechoulam – one of VIVO’s scientific advisors and known as the ‘godfather of cannabis research’ for his discovery of the THC molecule – as well as from other scientists such as Dr. Mike Dixon from the University of Guelph who heads up Guelph’s Controlled Environment Systems Research Facility. The Beacon Road Show will treat guests to a multi-course gourmet dinner from nationally and internationally renowned Canadian chefs at some of the country’s top restaurants.
Excise Tax Coverage
Beginning October 17, 2018, all Canadian licensed producers will have their cannabis taxed at $1 per gram or 10% of the sale price, whichever is greater. VIVO is pleased to announce that medical patients of Beacon Medical™ and Canna Farms will not have the cost of this excise tax passed on to them; it will be included in the list price.
Strainprint™ is a mobile app for medical cannabis users to track their intake and learn which strains and dosage work best for them. “We are always looking for ways to provide value-added services to our patients, and Strainprint’s robust database will help us provide useful information to both patients and health care professionals,” said Mr. Kang.
VIVO’s affiliation with Strainprint™, a leader in cannabis data and analytics, is expected to enhance the patient experience and will allow VIVO to leverage Strainprint’s data-derived insights to develop new products that optimize health outcomes.
“We are thrilled to be working with VIVO, whose tagline, ‘living life’, clearly embodies the same passion, focus and commitment as Strainprint™, with the ultimate objective of improving lives,” said Strainprint™ CEO, Andrew Muroff.
VIVO’s Beacon Medical™ division plans to leverage data insights from the Strainprint™ app and encourage more patients to track their treatment sessions. Engaged users will be eligible for discounts and merchandise on a customized version of the app. Strainprint™ provides access to more than 30 million data points on strain efficacy from more than 800,000 personal health records – the largest and most granular data set of its kind in the world.
About VIVO Cannabis™
VIVO, based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licences from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO has a collection of premium brands targeting unique customer segments, including Beacon Medical™, FIRESIDE™, Canna Farms™ and Lumina™. In August 2018, VIVO acquired Canna Farms Limited, a premium cannabis company based in Hope, British Columbia. Canna Farms was B.C.’s first Licensed Producer and has several years of craft cultivation experience and expertise, as well as a significant patient base and positive cash flow. The Company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia. VIVO also operates Harvest Medicine, a patient-centric and highly scalable network of specialty medical cannabis clinics as well as a new free telemedicine app that provides best-in-class education and support to over 15,000 patients. VIVO has a healthy balance sheet with over $100 million in cash and is well-positioned to accelerate growth in both Canada and internationally.
Founded in Toronto in 2016, Strainprint™ is a leading demand-side cannabis data and analytics company. With the world’s largest longitudinal, observational data-set of its kind and a mission to advance the scientific understanding of cannabis and its legitimization as a mainstream therapy, Strainprint™ helps medical cannabis patients and doctors use cannabis in the most effective and responsible way possible. Strainprint™ data supports global cannabis research and provides advanced business intelligence and treatment guidance to producers, retailers, medical practitioners, pharmacies, government and industry. Strainprint™ is HIPAA, PIPEDA and PHIPA privacy compliant, military-grade encrypted, and all patient data is completely anonymized and resides in Canada. Strainprint can be seamlessly embedded or integrated with most electronic medical records (EMR) and seed2sale software systems. Strainprint Analytics is accessed by customer subscription. The Strainprint™ app is free to patients and can be downloaded from both the iOS App Store and GooglePlay Store. For more information, visit: www.strainprintanalytics.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry Fishman (CEO and Director)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements, including statements that may lead the reader to believe that Beacon Medical’s new website and their related efforts to help patients, referring physicians, and caregivers navigate the complex medical cannabis market, will be successful, and that Strainprint’s database will help Beacon Medical provide value-added information to their patients and health care professionals. The forward-looking statements in this release are based on certain assumptions and involve known and unknown risks and uncertainties and other factors that could cause actual events to differ materially from current assumptions and expectations, including that Beacon Medical’s new website and their related efforts may not help those trying to navigate the medical cannabis market, and Strainprint’s database many not produce any helpful information to Beacon Medical or their patients or health care providers. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form dated April 30, 2018 and other continuous disclosure filings, which are available on SEDAR at www.sedar.com. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information or future events, or for any other reason, other than as required by applicable securities laws.
More Information on VIVO Cannabis Barry Fishman, CEO:[email protected] Michael Bumby, CFO:[email protected] Website:vivocannabis.com