VANCOUVER and SAN DIEGO, Dec. 5, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") is pleased to announce promising results for Bloomgroove.com ("Bloomgroove") from its first Black Friday week sales, which totalled more than $85,000 (CAD).

Bloomgroove, which went live in September 2019, is a custom-built e-commerce platform that is fast and user-intuitive, featuring cannabis accessories from reputable manufacturers, such as Storz & Bickel, Arizer, Grenco Science, and DaVinci. As well as selling products from the site, Bloomgroove also hosts independent storefronts where sellers can operate their own stores, leveraging Bloomgroove's proprietary sales engine. For Monday, November 25 through to Monday, December 2, the total reported unaudited sales from the Bloomgroove site was approximately $85,753.36 (CAD). Readers should note that these sales figures have not been audited and are subject to adjustment.

"The last week was an important milestone for Bloomgroove and our e-commerce platform, both from the strong sales results but also for what we learned about the sector and the data we collected that we will use to improve the platform," said David Moon, Interim CEO of Phivida.  "We will immediately begin to refine our sales and marketing techniques to optimize the December holiday season results. This will also apply to our CBD-focused site, Wikala.com, which was just launched."

Bloomgroove.com is one of a suite of web destinations operated by Phivida, which includes Greencamp.com, the premier site for information on cannabis products and culture, Wikala.com, an e‑commerce site focused on CBD, along with the product sites feeloki.com and hempvidaplus.com.

ABOUT Phivida Holdings Inc.

Phivida Holdings Inc. is headquartered in Vancouver, BC, with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements and information in this news release relate to future events or future performance and include statements about expectations regarding Phivida's business. To the extent any forward-looking statements and information referred to in this news release constitutes "financial outlook" within the meaning of applicable Canadian securities laws, such financial information has been approved by management of the Company as of the date of this news release, is given for informational purposes only, and the reader is cautioned that this financial information may not be appropriate for any other purpose. Accordingly, the reader should not place undue reliance on any such financial outlook.  As well, any financial outlooks, as with forward-looking statements generally, are based on assumptions believed by management to be reasonable, including the assumption that any adjustments to the unaudited financial information presented herein will not be significant, as well as assumptions regarding the cannabis industry generally.  Since forward-looking statements and 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: preliminary financial results are subject to the completion of the Company's financial closing procedures and have not been audited or reviewed by the Company's auditors; delays, increased competition, changes in consumer demand and preferences, and legal and/or regulatory changes.  Accordingly, readers are cautioned not to place undue reliance on forward-looking statements and information. The forward-looking statements and 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 statements or 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 statements and 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.

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