VIVO Cannabis Announces Results of 2022 AGM and Election of New Directors
Newsfile Corp.
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Toronto, Ontario--(Newsfile Corp. - July 2, 2022) - VIVO Cannabis Inc. (TSX: VIVO) (OTCQB: VVCIF) ("VIVO" or the "Company"), a leading provider of premium cannabis products and services, is pleased to announce the results of its annual general and special meeting of shareholders held today (the "Meeting").
As announced this morning, at the Meeting, shareholders approved fixing the number of directors at five, and the election of Ray Laflamme, Glen Huber, Shai Altman, Eric Shipman and Holly Workman as directors of the Company.
Mr. Laflamme is a founder and the current President of Canna Farms Limited, a wholly owned subsidiary of the Company, and all of the directors are previous directors of VIVO.
"I am pleased with the outcome of today's AGM," said Ray Laflamme, VIVO's CEO and Chair of the Board. "VIVO's domestic and international businesses continue to perform well despite significant industry headwinds, and it is reassuring to have the support of a strong board and dedicated hard-working teams as we work towards leveraging VIVO's solid position in the Canadian and in the global medical cannabis markets. We will continue to build on our core assets: a dedicated medical focus, excellent customer service, fair pricing, and top quality products and services."
The Company also announces that the board has appointed the following officers of the Company:
Name
Office Held
Ray Laflamme
Chief Executive Officer
Michael Bumby
Chief Financial Officer
Carole Chan
Chief Commercial and People Officer, and President, Harvest Medicine
Mariana Fonar
General Counsel and Corporate Secretary
Andreas Sander
President, European Operations
All of the officers are previous officers of VIVO.
A total of 88,982,498 common shares were voted at the Meeting, representing 23.991% of the votes attached to all outstanding common shares of the Company. The election of directors was voted upon by ballot and the detailed voting results on that matter are set out below:
Director
Number of Votes FOR
Number of Votes Withheld
Percentage of Votes Cast FOR Matter
Ray Laflamme
64,815,915
4,528,551
93.47%
Glen Huber
64,992,148
4,352,318
93.72%
Shai Altman
64,828,183
4,516,283
93.49%
Eric Shipman
63,980,174
5,364,292
92.26%
Holly Workman
63,881,003
5,463,463
92.12%
In addition, the Company's shareholders approved the appointment of MNP LLP as auditor of the Company for the 2022 fiscal year. Detailed voting results for the Meeting will be included in the Report on Voting Results to be filed under the Company's profile on SEDAR at www.sedar.com.
About VIVO Cannabis
VIVO Cannabis is recognized for trusted, premium cannabis products and services. Through its Canna Farms and ABcann business units, VIVO holds production and sales licences from Health Canada and operates world-class indoor cultivation facilities. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farms, Beacon Medical, Fireside, and Lumina. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 200,000 patient visits. VIVO is always pursuing partnership and product development opportunities and is focusing its international efforts on Germany and Australia. For more information visit: www.vivocannabis.com
For further information:
VIVO Investor Relations Michael Bumby, Chief Financial Officer ir@vivocannabis.com
Certain statements in this news release are forward-looking statements, which are statements that are not purely historical, including statements regarding the beliefs, plans, expectations or intentions of VIVO and its management regarding the future. Forward-looking statements in this news release include statements regarding the Company's intent to identify an additional independent director, and plans to work towards lower costs, increased revenue and profitability. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward‐looking statements, including: that the Company may not be able to achieve competitive margins; that new products, if launched, may not be accepted by the market or may become subject to product liability claims; that the Company may not be able to obtain necessary licences; that demand for the Company's products may not meet management's expectations; that the COVID‐19 pandemic may last longer and have a more significant impact on the Company's operations, the Canadian cannabis industry, or the global economy generally, than currently expected; that the Company faces competition from existing and new market entrants and participants; that the Company may be unable to retain its key talent or attract new talent and/or potential independent directors; that the Company may not be able to execute on its strategic partnerships; that the Company may not obtain any other necessary regulatory approvals as required from time to time; that the Company may be unable to protect its intellectual property; and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward‐looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are urged to consider these factors carefully, and the more extensive risk factors included in the Company's management's discussion and analysis for the three months ended March 31, 2022, which is available on SEDAR, in evaluating the forward‐looking statements contained in this news release and are cautioned not to place undue reliance on such forward‐looking statements, which are qualified in their entirety by these cautionary statements. The forward‐looking statements in this news release are made as of the date hereof and the Company disclaims any intent or obligation to update publicly any such forward‐looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
