Early Warning News Release
VANCOUVER, BC, June 18, 2020 /CNW/ - Daniel Laflamme, a director and Chief Operating Officer of VIVO Cannabis Inc. (the "Company"), announces the sale of 2,000,000 common shares in the capital of the Company (each, a "Share") and the intended termination of the automatic securities disposition plan dated June 25, 2019 (the "Plan") of NPK Holdings Limited ("NPK"), Mr. Laflamme's holding company, as further described in the news release of the Company dated August 28, 2019.
As of September 20, 2018, being the last date for which Mr. Laflamme was required to file an early warning report in accordance with the requirements of National Instrument 62-104 ? Takeover Bids and Issuer Bids ("NI 62-104"), Mr. Laflamme owned 37,893,039 Shares, representing approximately 13.2% of the outstanding Shares on such date, all of which were held indirectly through NPK. On June 17, 2020, Mr. Laflamme, through NPK, sold 2,000,000 Shares through the facilities of the Toronto Stock Exchange (the "TSX"), at a price of $0.22 per Share, for aggregate proceeds of $440,000, in addition to the approximately 3,940,000 Shares sold by NPK under the Plan through the facilities of the TSX and the TSX Venture Exchange between September 3, 2019 and June 12, 2020 (collectively, the "Sales"). Following the completion of the Sales, Mr. Laflamme owns, directly or indirectly, or exercises control or direction over, approximately 31,738,541 Shares, representing approximately 10.7% of the 295,888,654 issued and outstanding Shares as at the date hereof.
Mr. Laflamme effected the Sales for investment purposes. In accordance with applicable securities laws, Mr. Laflamme may, from time to time and at any time in the future, acquire additional equity, debt or other securities or instruments of the Company (collectively "Securities"), in the open market or otherwise, and he reserves the right to dispose of any or all of such Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company, his financial position and other relevant factors.
Mr. Laflamme has given notice of his intention to terminate the Plan and sales thereunder are expected to cease on or about June 22, 2020. Mr. Laflamme has advised the Company that he is not in possession of any material undisclosed information with respect to the Company as at the date hereof.
This news release is being issued pursuant to NI 62-104 in connection with the filing of an early warning report by Mr. Laflamme. A copy of the early warning report can be obtained on the Company's SEDAR profile at http://www.sedar.com. The head office address of the Company is 180 John Street, Suite 403, Toronto, ON M5T 1X5.
SOURCE Daniel Laflamme
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