Phivida Holdings Inc. Postpones Annual General Meeting of Shareholders

VANCOUVER and SAN DIEGO, CA, March 24, 2020 /CNW/ - Phivida Holdings Inc. (CSE: VIDA - OTCQX: PHVAF) ("Phivida" or the "Company") announces that, given the extraordinary circumstances regarding the ongoing COVID-19 pandemic, and the resulting restrictions on public gatherings and non-essential business operations, it is postponing its Annual General Meeting of Shareholders scheduled to be held this Thursday March 26, 2020 at the Marriott Eaton Centre, on 525 Bay St, Toronto, Ontario. The Company will set and communicate details for a new AGM meeting date as soon as the orderly planning and preparation of the meeting can be conducted. As a result, the current meeting and record date are canceled, and shareholders are urged not to attend at the meeting premises.

"The health and safety of our teams, shareholders, and the community at large, remains our number-one priority," said David Moon, Interim CEO at Phivida. "This decision to postpone the holding of our AGM was not taken lightly, however, given the rapidly evolving public health crisis of COVID-19, management considered it to be in the best interests of the Company and the health and safety of our shareholders to postpone this week's scheduled AGM and hold it at a later date once conditions improve. We are also exploring all options, including potentially hosting an AGM virtually (subject to costs and availability).  We will announce the new AGM meeting and record date as soon as we can secure a new plan."

ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is a CBD-centric holding group with assets in technology, publishing and consumer packaged goods (CPG). Headquartered in Vancouver BC, with operations in San Diego, Toronto and Belgrade, the company produces a line of CBD infused foods and beverages (OKI), and CBD topicals and supplements (VIDA+), in addition to managing and operating two CBD-related, online retail marketplaces under the brand names Bloomgroove and Wikala. Greencamp is the company's online publication and knowledge center on CBD sector news. For more information, visit phivida.com.

Disclaimer/Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information in this news release relate to future events or future performance and include statements about the Company's Annual General Meeting (AGM). Any forward-looking information in this news release are based on assumptions believed by management to be reasonable, including assumptions regarding the AGM.  Since forward-looking information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated or implied due to a number of factors and risks, including but not limited to the following:  risks related to the COVID-19 virus and the government response that may affect the AGM; the ability of the Company to digitally host the AGM; the ability of necessary personnel to attend to the administration of the AGM due to mandated quarantine or COVID-19 related restrictions.  Accordingly, readers are cautioned not to place undue reliance on forward-looking information. The forward-looking information contained in this news release are made as of the date of this news release and no undertaking is given to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the policies of the Canadian Securities Exchange. The forward-looking information contained in this news release are expressly qualified in their entirety by this cautionary statement. Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepted responsibility for the adequacy or accuracy of this release.

SOURCE Phivida Holdings Inc.