OTCQB:VVCIF - Post by User
Post by
davgroon Mar 31, 2021 11:41pm
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VIVO Cannabis™ Announces Fourth Quarter 2020 Results
VIVO Cannabis™ Announces Fourth Quarter 2020 Results 2021-03-31 23:17 ET - News Release
VIVO Cannabis™ Announces Fourth Quarter 2020 Results
Canada NewsWire
TORONTO, March 31, 2021
- Net revenue for Q4 2020 was $6.2 million; Net revenue for 2020 was $32.8 million, an increase of over 32% compared with the same period last year
- Recorded first significant revenues from VIVO's Australian business in 2020
- In October 2020, began streamlining its Napanee, Ontario operations and integrating the operations of its Napanee and Hope LP's to achieve production cost and efficiency improvements.
Subsequent to year end:
- Pharmascience Inc., VIVO's strategic partner for specific medical cannabis formulations, received its Cannabis Standard Processing License for its Quebec-based facility to formulate and process cannabis and derivative products into finished products; On track to manufacture first medical cannabis product produced under pharmaceutical quality standards in 2021
- Released brick hash as part of VIVO's Cannabis 2.0 product lineup and expected to release a new line of topicals in Q2 2021, VIVO's 9th and 10th product formats, respectively
- Vanluven facility received EU-GMP certification allowing VIVO to export cannabis products for sale in Europe and Beacon Medical Germany GmbH received an import license to allow imports of medical cannabis flowers
- Closed an $8 million public offering to help fund VIVO's growth
https://ca.finance.yahoo.com/news/vivo-cannabis-announces-fourth-quarter-031700111.html