“We are pleased to combine our strengths with those of Pharmascience for the benefit of our current and future medical patients,” stated Barry Fishman, CEO of Vivo.
Pharmascience is not small potatoes. This 35-year-old private company has 1,500 employees and product distribution in over 60 countries.
Pharmascience manufactures and markets generic, over-the-counter, and behind-the-counter products, as well as FDA approved Canadian-made injectables – covering 300 product families in 20 different dosage forms.
In Canada alone, about 45 million prescriptions a year are filled with Pharmascience products.
Key Westleaf Deal Points:
-Multi-year supply agreement
-Vivo supplies cannabis to Westleaf.
-Vivo gains access to multiple retail locations
--Westleaf absorbs VIVO’s portfolio of adult-use brands
-FIRESIDE, Lumina and Canna Farms products delivered to Westleaf
Last week Vivo signed a deal with national cannabis distributor, Green Hedge Education & Distribution (GHED).
“The multi-year deal will facilitate the supply of Vivo Cannabis’ product to licensed retailers and wholesalers nationwide,” wrote Equity Guru’s Ethan Reyes.
Green Hedge is a “results-driven recreational cannabis distribution team” to representing Vivo’s key brands, including FIRESIDE, Lumina and Canna Farms.
On September 5, 2018 Vivo completed the acquisition of Canna Farms, British Columbia’s first licensed grower.
The acquisition cost Vivo $133 million, consisting of $22.5 million in cash and the issuance of 92.5 million common shares priced at $1.20 each.
Key Canna Farm Deal Points:
Enhanced Financial and Capital Markets Profile: strong cash position of $100 million.
Canna Farms’ positive operating cash flow – $9.4 million revenue EBITDA
Increased Capacity and Scale: Production capacity of 57,000 kilograms.
Multiple provincial supply agreements already secured.
International Leverage: Expedited expansion strategy into international markets, with a focus on Germany and Australia.