CannabisNewsBreaks - VIVO Cannabis Inc. (TSX: VIVO
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Posted On: 05/15/2020 5:08:31 PM
CannabisNewsBreaks - VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) Announces Results for Q1 2020
VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Thursday released its first quarter 2020 financial and operating results. Among the highlights, the company reported an increase in net revenue to $8.2 million. “Our positive first quarter 2020 results were fueled by a net revenue increase of 24% compared with the previous quarter,” VIVO CEO Barry Fishman said in the news release. “Several of our Canna Farms(TM) and Fireside(TM) cannabis 2.0 products are showing strong momentum, and the VIVO team continued to execute well on plans related to our four strategic priorities, despite COVID-19 related challenges. In April, we started planting in our airhouses in Napanee, are awaiting Health Canada approval to begin production in our Phase 5 expansion in Hope B.C. and expect to commission our new ethanol extraction suite in Napanee in Q2 2020. During the quarter we also entered into new supply and processing agreements, which are expected to result in the launch of several exciting new products.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Thursday released its first quarter 2020 financial and operating results. Among the highlights, the company reported an increase in net revenue to $8.2 million. “Our positive first quarter 2020 results were fueled by a net revenue increase of 24% compared with the previous quarter,” VIVO CEO Barry Fishman said in the news release. “Several of our Canna Farms(TM) and Fireside(TM) cannabis 2.0 products are showing strong momentum, and the VIVO team continued to execute well on plans related to our four strategic priorities, despite COVID-19 related challenges. In April, we started planting in our airhouses in Napanee, are awaiting Health Canada approval to begin production in our Phase 5 expansion in Hope B.C. and expect to commission our new ethanol extraction suite in Napanee in Q2 2020. During the quarter we also entered into new supply and processing agreements, which are expected to result in the launch of several exciting new products.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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