VIVO Announces Stock Option Grants

NAPANEE, ON, Dec. 31, 2020 /CNW/ - VIVO Cannabis Inc. (TSX: VIVO), (OTCQX: VVCIF) ("VIVO" or the "Company") today announced that in conjunction with its annual employee compensation program, it has granted, effective today, an aggregate of 6,900,000 million stock options (each, an "Option") to certain officers, employees and consultants of the Company in accordance with the Company's stock option plan. Each Option is exercisable into one common share in the capital of the Company (each, a "Share") at a price of $0.13 per Share, being the closing price of the Shares on the TSX on December 30, 2020, for a period of five years from the date of the grant. This option grant makes up part of the compensation and retention incentives anticipated by our stock option plan. All full time employees of the Company will receive Options under this normal-course business grant. The Options will vest in equal quarterly instalments over 36 months.

About VIVO Cannabistm

VIVO Cannabistm is recognized for trusted, premium cannabis products and services. It holds production and sales licences from Health Canada and operates world-class indoor and seasonal airhouse cultivation facilities. VIVO has a collection of premium brands, each targeting different customer segments, including Canna Farmstm, Beacon Medicaltm, Firesidetm, Fireside-Xtm, Luminatm and Canadian Bud Collectiontm. Harvest Medicine, VIVO's patient-centric, scalable network of medical cannabis clinics, has serviced over 150,000 patient visits. VIVO is pursuing several partnership and product development opportunities and is focusing its international efforts on Germany and Australia. For more information visit: vivocannabis.com

SOURCE VIVO Cannabis Inc.