VIVO Cannabis Inc (OTCMKTS:VVCIF) has made such a great milestone in advancing its operations. The company based in Napanee, Ontario has entered into an agreement with a Westleaf Cannabis Inc. worth $5 million. The duo’s strategic arrangement will give VIVO an upper hand as it strives to roll out its cannabis retail operations in Canada. It is worth noting that the Cannabis market is becoming appealing to customers thus the rapid expansion.
Several medical cannabis formulations are on record for being beneficial to patients suffering from particular conditions. Hence, any move to improve their quality standards will create more desire for use from health care professionals and patients.
The partnership reflects VIVO’s commitment to research and innovation
VIVO has developed such a strong focus on quality and innovation as it continues to push the growth of its business. The primary goal is in creating novel products and particularly for the international markets, which seems to be very stable. Some of these markets include Germany and Australia. The company has established a tight network of specialty medical cannabis clinics through its Harvest Medicine.
Nonetheless, according to the company’s CEO, Barry Fishman, their commitment is in pursuing opportunities across the full value chain. Fishman says, “VIVO is committed to providing high-quality products for the Canadian recreational cannabis market. We continue to build our presence in the adult-use market with this strategic investment in Westleaf.”
What will the integrated strategy offer the cannabis industry?
Westleaf’s goal is to offer innovative retail experiences to the Cannabis industry through premium cannabis production. Besides, the company is expanding its wings to Alberta and Saskatchewan with the construction of state-of-the-art cannabis production facilities. On the other hand, VIVO is anticipating to develop new formulations, which will benefit current and future medical patients.
All these efforts put together will give a strong endorsement to the expansion of the cannabis industry. What seems like a well-integrated strategy will place the industry at a high caliber level according to President and CEO of Westleaf, Scott Hurd.
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Through the investment, VIVO will get 5,882,353 units of Westleaf whereby each of the units is equivalent to one Westleaf common share.