Vivo Cannabis’ (VIVO.T) Vanluven facility in Napanee, Ontario, landed its European Union good manufacturing practices (EU-GMP) certification today, according to a press release.
The certification gives Vivo the nod to export and sell their products into the European markets, and also into other markets that require rigorous GMP standards through their Abcann Medicinals subsidiary.
“We are very excited about VIVO’s receipt of GMP certification from the German health authority of the state of Brandenburg. This is a major step forward in VIVO’s commitment to expand our medical cannabis business. It will allow us to start to provide patients, physicians and pharmacists with high quality medical cannabis flowers in Germany, the rest of Europe and beyond. It is a significant achievement that will help differentiate VIVO from many of its peers,” said Andreas Sander, Vivo’s president of European operations.
Vivo delivers premium cannabis products and services. They hold production and sales licenses from Health Canada and operate indoor and seasonal airhouse cultivation facilities, offering access to their collection of premium brands, each with specific audience targets—including Canna Farms, Beacon Medical, Fireside, Fire-side X, Lumina, Canadian Bud Collection, Harvest Medicine and Vivo’s scalable network of meical cannabis clinics, which have serviced over 150,000 patient visits.
Getting EU-GMP certified will open the door for Vivo to chase after greater distribution opportunities across the European Union and in other markets where EU-GMP is required for market entry. The company is presently working to get their first European sale of their Beacon Medical products out of the way, which they anticipate doing by Q3.
The January effect seemed to let long-time bagholders off the hook, but that appears to be over now and Vivo’s share price is back to its old standards. Better luck next January if you didn’t get out in time. They’re up a penny and presently trading at $0.18, which is down from a high of $0.36 during the first two weeks of February.