VIVO Cannabis (TSX-V: VIVO) (OTCQX: VVCIF) has received approval to expand its facility in Hope, British Columbia. The company is looking to boost its cultivation capacity in the province.
Expansion to Boost Annual Production Capacity to Over 8,000kg
VIVO’s subsidiary Canna Farms Ltd. has received approval from Health Canada to expand its Yale Road facility in Hope.
The expansion includes production and product development space, along with automated packaging equipment.
“Today’s approval of the Hope, British Columbia expansion is in addition to the Napanee, Ontario capacity increase approved by Health Canada yesterday,” Barry Fishman, the CEO of VIVO, said in a statement.
Fishman noted that “the additional cultivation” will boost the company’s annual production capacity to “more than 8,000 kilograms with a goal to reach 11,000 kilograms later in 2019.”
The company expects to begin cultivation in the expanded area in May this year.
Napanee, Ontario-based VIVO holds production and sales licenses from Health Canada and operates indoor cultivation facilities with plant-growing technology. Its brands targeting customer segments include Beacon Medical, FIRESIDE, Canna Farms and Lumina.
The company is significantly expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in select international markets, including Germany and Australia.
Last month, VIVO acquired Canna Farms, a cannabis company based in Hope, British Columbia. The company also operates Harvest Medicine, a patient-centric network of specialty medical cannabis clinics as well as a free telemedicine app.