VIVO Cannabis Appoints Chief Customer Officer

NAPANEE, Ontario, Aug. 14, 2018 (GLOBE NEWSWIRE) -- VIVO Cannabis Inc. (TSX-V: VIVO, OTCQB: ABCCF) (“VIVO” or the “Company”) is pleased to announce the appointment of Joel Mallard as the Company's Chief Customer Officer (CCO).  Mr. Mallard will assume the position effective August 20, 2018 and will be tasked with building and leading VIVO’s sales teams and sales strategy across all markets.

With more than 20 years of sales, marketing and innovation experience, Mr. Mallard has held senior roles at Diageo and News Corp., including over 13 years in leadership roles in the beverage alcohol industry.  Mr. Mallard was working most recently with Cowbell Brewing Co. where he led the sales team and developed the company’s customer plans and strategy.  During his two-year tenure at Cowbell, Mr. Mallard was instrumental in growing it from a start-up to a top player in the highly competitive craft beer industry.

“Joel is a welcome addition to the VIVO team. His extensive expertise in sales, marketing and product innovation and in the beverage alcohol category are highly valued,” said Barry Fishman, CEO of VIVO.  “His leadership role will include developing a comprehensive understanding of our customers and creating strategies to maximize customer acquisition, retention and profitability.  We are thrilled to have Joel as the chief customer ambassador for our brands including Beacon Medical, Fireside Cannabis and Lumina Wellness.”

An industry-recognized sales and marketing executive, Mr. Mallard’s experience includes many successful product launches, the growth of several global brand extensions, including Smirnoff, Johnnie Walker and Guinness, and multiple local and international industry awards.  In his new role, Mr. Mallard will be responsible for positioning VIVO as a leading medical and adult-use cannabis company and driving profitable revenue.

In connection with Mr. Mallard's appointment, the Company has agreed to grant him 300,000 stock options, each of which will be exercisable into one common share in the capital of the Company at a price of $1.27 per share, being the closing price per share on the TSX Venture Exchange on August 13, 2018. The options will vest quarterly over 36 months and expire in five years.

About VIVO Cannabis™

VIVO is recognized for trusted, high-quality products and services. It holds production and sales licences from Health Canada, and its world-class indoor cultivation facility in Napanee, Ontario contains proprietary plant-growing technology. VIVO is expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany, Australia and Israel.

VIVO recently announced that it has entered into a definitive agreement to acquire 100% of the issued and outstanding share capital of 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.

More Information

Barry Fishman, CEO: barry.fishman@vivocannabis.com
Michael Bumby, CFO: michael.bumby@vivocannabis.com
Website: vivocannabis.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 regarding the Company’s proposed acquisition of Canna Farms and the expected benefits of the appointment of Mr. Joel Mallard to its executive team. 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 the acquisition of Canna Farms will be successfully completed, and that Mr. Mallard will successfully fulfil his mandate.  These forward-looking statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, including: that the proposed Canna Farms acquisition may not close on the terms expected or at all; that  there may be regulatory impediments to the timing of opening of the adult use market; that there may occur changes to industry regulations that are adverse to the Company; and that Mr. Mallard’s performance may not be as expected. A more complete discussion of the risks and uncertainties facing the Company appears in the Company’s Annual Information Form and 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.