Avicanna’s RHO Phyto™ Medical Product Line is Now Available Nation-Wide in Canada Through Medical Cannabis by Shoppers Inc.

Avicanna’s RHO Phyto™ Medical Product Line is Now Available Nation-Wide in Canada Through Medical Cannabis by Shoppers Inc.


RHO Phyto “Micro Drop” oil formulations are the first of the RHO Phyto formulary of advanced medical cannabis products available for patients and health care practitioners on the Medical Cannabis by Shoppers™ platform.

This product line includes advanced formulations under the “Cannabis 2.0” regulations that have undergone years of research and development and been manufactured under GMP standards at MediPharm Labs Inc.

The RHO Phyto products are also now available to clinicians and patients at the University Health Network through the Medical Cannabis Real World Evidence study in partnership with Medical Cannabis by Shoppers.

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TORONTO, August 12, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that its advanced RHO Phyto™ Micro Drop oils are now officially available nationwide in Canada on the Medical Cannabis by Shoppers™ (“Shoppers”) platform as well as through the Medical Cannabis Real-World Evidence study (“MC-RWE study”) at the University Health Network (“UHN”) as announced by the Company on July 15, 2020.

Following years of research and development in collaboration with world class academic and clinical organizations, Avicanna is proud to be launching RHO Phyto, a full formulary of advanced medical cannabis products, for patients and the medical community in Canada.  Following the Micro Drop oils, Avicanna expects to launch two advanced sublingual spray formulations in the upcoming weeks. The RHO Phyto product line includes oil drops, sublingual sprays, capsules and topicals with varying ratios of CBD and THC. The RHO Phyto products are designed to address a range of medical conditions that may require various rates of relief. For example, the “Rapid Act” sublingual sprays provide a faster onset of effects than the “Simple Dose” capsules and “Micro Drop” oils. To ensure batch-to-batch consistency and high-quality products, these formulations are manufactured under Good Manufacturing Practices (“GMP”) in partnership with MediPharm Labs Inc. and GMP-level analytical testing is performed by Sigma Analytical Services Inc. All RHO Phyto products will be tracked using blockchain technology developed by TruTrace Technologies Inc. to manage, track and trace each step of the supply chain.

Aras Azadian, CEO of Avicanna commented, “We believe that our RHO Phyto formulary is designed to address numerous gaps in the current medical cannabis framework with respect to patient needs and provide an opportunity to attract new prescribers and patients to medical cannabis solutions. The introduction of a strictly medical line of products, backed by extensive research, pre-clinical data, GMP manufacturing and offered by Shoppers, has the opportunity to set a new standard of care and establish RHO Phyto as the leading medical product line in the medical cannabis market.”

With the patient in mind, RHO Phyto Micro Drop oils are formulated with enhanced absorption, prolonged stability, and consistency. The blood orange flavoured Micro Drop oil 1.6 CBD – 0.06 THC and Micro Drop oil 0.6 CBD – 0.16 THC are available in a 25:1 and 4:1 CBD to THC ratio, respectively. The product name includes the amount in milligrams (mg) of CBD and THC that is delivered per dose. Detailed guidelines about dosing and titration for Health Care Practitioners (“HCPs”) and patients is available on the RHO Phyto website at www.rhophyto.com, as well as on the Avicanna Academy website at https://www.avicanna.com/the-avicanna-academy/, along with additional product information, product guidelines for patients, and frequently asked questions.

As a part of Avicanna’s commercialization strategy, the Company will be providing education and training for HCPs, patients, and medical institutions about medical cannabis and the RHO Phyto product line. Educational materials can be found on the Avicanna Academy website at https://www.avicanna.com/the-avicanna-academy/, including a recording of Avicanna’s 3rd annual symposium that was hosted virtually in partnership with Shoppers on July 21st and was live-streamed by over 1,000 participants.

The Company has also re-branded and re-launched its subsidiary, My Cannabis Clinic (formerly known as MyCannabis), which specializes in assisting patients to gain access to medical cannabis and cannabinoid-based products for medical use. My Cannabis Clinic is devoted to providing HCPs and patients with the support and education needed for medical cannabis use. My Cannabis Clinic believes in providing quality care and education to their patients on the considerations and benefits that medical cannabis has to offer. Information about My Cannabis Clinic can be found at https://mycannabisclinic.org/.

About Avicanna Inc.

Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.

Avicanna is an established leader in cannabinoid research and development, which it primarily conducts at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada and in collaboration with leading Canadian academic and medical institutions. In addition to its developing pharmaceutical pipeline, Avicanna’s team of experts have developed and commercialized several industry leading product lines, including:

  • Pura H&W: an advanced and clinically tested line of CBD consumer dermacosmetic products; and,
  • RHO Phyto: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

With ongoing clinical trials on its dermacosmetic (Pura H&W), medical cannabis (RHO Phyto) and a pipeline of pharmaceutical products, Avicanna’s dedication to researching the important role that cannabinoids play in an increasingly wider scope of products has been at the core of the Company’s vision since its inception. Furthermore, Avicanna’s commitment to education is demonstrated through its annual medical symposium, the Avicanna Academy educational platform, and the My Cannabis Clinic patient program through its subsidiary company.

Avicanna  manages its own supply chain including cultivation and extraction through its two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia. Through these sustainable, economical, and industrial scale subsidiaries, Avicanna cultivates, processes, and commercializes a range of cannabis and hemp cultivars dominant in CBD, CBG, THC, and other cannabinoids for use as active pharmaceutical ingredients. Avicanna’s Avesta Genetica program specializes in the development and optimization of rare cultivars for commercial production along with feminized seeds for global export. In June 2020, Avicanna made history with a shipment of hemp seeds to the United States of America by completing the first ever export of hemp seeds from Colombia.

About My Cannabis Clinic

My Cannabis Clinic, a wholly-owned subsidiary of Avicanna, is an online health care platform that specializes in providing residents of Canada with access to cannabis and cannabinoid products for medical use. My Cannabis Clinic is devoted to providing its patients with support and education needed while using medical cannabis. My Cannabis Clinic believes in providing quality care and education to our patients about the medicinal benefits that cannabis has to offer.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of the Company to launch the RHO Phyto sublingual spray at Shoppers, the ability of the RHO Phyto products to address a range of medical conditions that may require various rates of relief, the ability of the RHO Phyto formulary to address numerous gaps in the current medical cannabis framework as well as patient needs, the ability of the Company to conduct clinical trials using various RHO Phyto products in collaboration with various leading Canadian medical institutions and the likelihood of such clinical trials evaluating the safety, tolerability and efficacy of the RHO Phyto products for treating a range conditions such as chronic pain, inflammatory bowel disorder, and their associated co-morbidities. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna and Red White & Bloom enter Exclusive Partnership for the Distribution and Commercialization of Pura H&W Hemp-Derived CBD-Based Topical Products in the United States

Avicanna and Red White & Bloom enter Exclusive Partnership for the Distribution and Commercialization of Pura H&W Hemp-Derived CBD-Based Topical Products in the United States

The partnership allows for both companies to stake a claim in the expanding $532 billion beauty industry with the most advanced and only clinically backed CBD skin care line

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

Toronto, Ontario – August 11, 2020 – Avicanna Inc. (“Avicanna”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, and Red White & Bloom Brands Inc. (CSE: RWB) (OTC: RWBYF) (“RWB” or “Red White & Bloom”) are pleased to announce that they have entered into a distribution agreement for the exclusive distribution of Avicanna’s advanced and clinically backed CBD-based cosmetic and topical products Pura H&W™ by RWB in the US and certain other markets.

The $532 billion beauty industry continues growing rapidly and new trends such as the introduction of CBD cosmetics is anticipated to establish a strong market presence in markets that permit retail sales such as the United States. The Pura H&W branded products utilize hemp-derived CBD, the non-psychoactive and non-controlled cannabinoid, which allows for cosmetic designation and retail sales.

The launch of this innovative and premium hemp-derived CBD product line will leverage from the growing use of online platforms for shopping including Pura H&W’s own e-commerce platform, third party e-commerce channels, and “big box” retailers in addition to the existing commercial infrastructure of RWB in the United States.

Brad Rogers, chairman and chief executive officer of RWB, stated: “This Agreement with Avicanna reflects our desire to seek out and provide the highest quality products available in the market. These formulations stand head and shoulders above anything else in the category and from our research it’s the most compelling, evidence-based product that retailers will feel confident listing and consumers can feel confident and comfortable using for their skin care needs.”

Under the agreement, which has an initial five-year term, RWB will exclusively distribute the Pura H&W™ brand and certain other white label brands at RWB’s direction. Having been developed by researchers and collaborators from world class medical and academic institutions, the Pura H&W™ line of products has been developed through a scientific and evidence-based approach. This approach in product development has allowed Avicanna to synergistically combine natural ingredients with hemp-derived CBD in advanced and proprietary formulations that have completed 3 cosmetic human clinical studies. Product development is always commenced with the consumer in mind and specific needs are addressed through analysis in observational as well as interventional clinical studies. Avicanna’s hemp-derived CBD infused cosmetics and topicals equip RWB with the opportunity to set the standards with advanced research and development for hemp-derived CBD cosmetics and GMP manufacturing.

The 3 cosmetic clinical studies were completed on Avicanna’s formulations targeted at cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients that were tested for both safety and certain derma-cosmetic endpoints, including hydration and excess oil production. The results of all three studies achieved positive results in the endpoints with no adverse effects, making products part of one of the only cannabinoid consumer product lines with human safety and efficacy data.

Aras Azadian, CEO of Avicanna, commented: “After years of R&D and clinical development of what we believe is the most advanced line of CBD skin care products, we are thrilled to have partnered up with the team at RWB, who provide an ideal partner for Avicanna and the Pura H&W line of products. We believe their access and expertise in the US market through commercial and retail channels will allow the Pura H&W branded products to reach their potential as the leading skin care brand.”


Terms of the agreement

RWB will pay Avicanna an upfront licensing fee in the amount of two hundred fifty thousand Canadian dollars (CAD$250,000) in cash, along with minimum purchase requirements for the rights to be the exclusive distributor of Avicanna’s Pura H&W branded cosmetic products in the US. Under the agreement, RWB also has the right to purchase Avicanna’s cosmetic products for distribution into the US and certain other territories under brands of RWB’s choosing. The initial product offerings under the agreement will include body and face lotions, cosmetic creams, gels and serums, as well as soaps and bath bombs.

To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.


About Red White & Bloom Brands Inc.

The Company is positioning itself to be one of the top three multi-state cannabis operators active in the U.S. legal cannabis and hemp sector. RWB is predominately focusing its investments on the major US markets, including Michigan, Illinois, Massachusetts, California, and Florida with respect to cannabis, and the US and internationally for hemp-based CBD products.

For more information about Red White & Bloom Brands Inc., please contact:

Tyler Troup, Managing Director

Circadian Group IR

IR@RedWhiteBloom.com

 

Visit us on the web: www.RedWhiteBloom.com

 

Follow us on social media:

Twitter: @rwbbrands

Facebook: @redwhitebloombrands

Instagram: @redwhitebloombrands


About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.


Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of Avicanna or RWB to perform under the agreement, the manufacturing of the products, the shipping and delivery of the products to customers in the United States and worldwide, and the appropriate education and marketing efforts. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, the delay or failure to receive regulatory approvals, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. 

Avicanna Inc. to Host Second Quarter 2020 Investor Conference Call

Avicanna Inc. to Host Second Quarter 2020 Investor Conference Call

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, August 7, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it has scheduled a conference call on Monday, August 17, 2020 at 9:00AM Eastern Time to discuss the results for its fiscal second quarter ended June 30, 2020. Aras Azadian, Chief Executive Officer and Davender Sohi, Chief Financial Officer, will host the call and a question and answer period. The Company will report its financial results for the second quarter after the close of markets on Friday, August 14, 2020.

Conference Call Details

DATE:                                                   August 17, 2020
TIME:                                                    9:00 AM Eastern Time

CONFIRMATION #:                              64751998

TORONTO:                                           416-764-8659
NORTH AMERICAN TOLL FREE:        1-888-664-6392
GERMANY TOLL FREE:                       08007240293
COLOMBIA TOLL FREE:                      018005184036

REPLAY TORONTO:                             416-764-8677
REPLAY NORTH AMERICA:                 1-888-390-0541
REPLAY ENTRY CODE:                       751998#

REPLAY EXPIRATION DATE:               August 24, 2020

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of management’s experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information form dated April 15, 2020 (the “AIF”) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

Avicanna announces the award of two Canadian government NSERC grants: 1) Cannabinoid-based pharmaceutical formulations for the treatment of COVID-19 in collaboration with the University of Toronto; and, 2) Evaluation of cannabinoids for reversing cannabis-based toxicosis in collaboration with the University of Guelph

Avicanna announces the award of two Canadian government NSERC grants: 1) Cannabinoid-based pharmaceutical formulations for the treatment of COVID-19 in collaboration with the University of Toronto; and, 2) Evaluation of cannabinoids for reversing cannabis-based toxicosis in collaboration with the University of Guelph


In addition to a recent MITACS award, Dr. Christine Allen, a Professor at the University of Toronto, was awarded an NSERC Alliance grant for development of cannabinoid-based pharmaceutical formulations for the treatment of COVID-19 induced lung inflammation

Avicanna further expands its existing neurobiological research collaboration with Dr. Jibran Khokhar, a Professor at the University of Guelph, with a 2-year NSERC Alliance grant to investigate the neural basis of cannabis-induced toxicosis

The two NSERC grants leverage the proven track record of Avicanna, the University of Toronto and University of Guelph in the research and clinical development of cannabinoid-based medicines

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

Toronto, Ontario – July 24, 2020 – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that the Company’s research collaborators have received two independent peer-reviewed grants from the Natural Sciences and Engineering Research Council of Canada (“NSERC”). The NSERC Alliance grants will be used to expand the investigators’ collaborative research with Avicanna.

For the past three years, Dr. Christine Allen’s research group (CARG) in the Leslie Dan Faculty of Pharmacy at the University of Toronto has supported the development and optimization of Avicanna’s cannabinoid-based products including commercial cosmetics (Pura H&W) and medical cannabis (Rho Phyto) product lines and the pharmaceutical pipeline that is currently under clinical investigation.  Dr. Allen will now leverage a recent MITACS award in addition to this NSERC Alliance grant in collaboration with Avicanna to develop a cannabinoid-based formulation for treatment of COVID-19 related lung inflammation.

A second NSERC Alliance grant was awarded to Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, who has an extensive track-record in behavioural pharmacology and neuroscience. Avicanna’s research program with Dr. Khokhar focuses on evaluating a variety of cannabinoids in several preclinical models of human psychiatric conditions including mental health disorders such as anxiety, depression, and PTSD. The NSERC grant was awarded to evaluate the neurobiological underpinnings of cannabis toxicosis in a preclinical model, and test the potential efficacy of Avicanna’s naturally-derived cannabinoids and formulations in the treatment of cannabis-induced toxicosis. With the recent changes in the Canadian regulations for Cannabis 2.0 allowing for cannabinoid edibles and vapes, there is concern around an increased risk for adverse events arising from accidental high-dose cannabis ingestion. Thus, this two-year project will determine the behavioural and neural correlations of cannabis-induced toxicosis and the effects of cannabinoids for counteracting cannabis-induced toxicosis.

Dr Jibran Khokhar, commented, “This research is extremely timely with the new Cannabis 2.0 regulations and the increased risk for cannabis-induced toxicosis. I am thankful to NSERC and Avicanna for support of this important research that will have an impact in our understanding of the neurobiological underpinnings of, and provide novel treatment avenues to treat, adverse events related to high-dose cannabis exposures. ”

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the two-year project with the University of Guelph determining the behavioural and neural correlations of cannabis-induced toxicosis and the effect of cannabinoids for counteracting cannabis-induced toxicosis. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Announces Participation in a Medical Cannabis Real-World Evidence (MC-RWE) Clinical Study Led by the University Health Network in Partnership with Medical Cannabis by Shoppers™ Inc. using its Rho Phyto™ Advanced Medical Cannabis Formulary of Products

Avicanna Announces Participation in a Medical Cannabis Real-World Evidence (MC-RWE) Clinical Study Led by the University Health Network in Partnership with Medical Cannabis by Shoppers™ Inc. using its Rho Phyto™ Advanced Medical Cannabis Formulary of Products


Rho Phyto products include a full formulary of products including oil drops, sublingual sprays, capsules, and topicals that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data and will be available exclusively on the Medical Cannabis by Shoppers™ online portal by the end of July 2020.

This first-of-its-kind Canadian study is led by Dr. Hance Clarke, Director of Pain Services at Toronto General Hospital, and will examine the efficacy of a select group of medical cannabis products including Avicanna’s Rho Phyto line of products on patient reported outcomes of pain, sleep and anxiety.

This specific study is aligned and in parallel with Avicanna’s comprehensive clinical program of other real world evidence studies involving the Rho Phyto products and clinical trials on its pharmaceutical pipeline with world class and Toronto based medical institutions.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS

Toronto, Ontario – July 15, 2020 – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that its Rho Phyto™ product line of advanced medical cannabis products will be the subject of a Medical Cannabis Real-World Evidence study (“MC-RWE Study”) led by Dr. Hance Clarke of the University Health Network (“UHN”) in Toronto, Canada. The Rho Phyto products were developed in accordance with the recent Health Canada Cannabis 2.0 regulations for that allow for more advanced, higher quality, medical cannabis product offerings. These products have been tested for prolonged stability, enhanced absorption, controlled delivery and other properties in collaboration with Christine Allen’s research group at the Leslie Dan Faculty of Pharmacy, University of Toronto.

The Rho Phyto medical cannabis product line is a full formulary that includes sublingual sprays, oil drops, capsules, and topicals in various ratios of cannabinoids, namely THC and CBD. Having different delivery systems makes it possible for the medical community to select the appropriate Rho Phyto product to suit a range of medical conditions such as pain relief that requires a fast onset of action or prolonged duration of effect over the course of treatment. The products are manufactured under good manufacturing practice (“GMP”) in partnership with Medipharm Labs Inc. to ensure batch-to-batch consistency and high-quality products. This also allows for data derived from this study to provide early insights into Avicanna’s ongoing and future directions of pharmaceutical development. Avicanna remains committed to patient safety and product consistency which is why all products subject to the MC-RWE Study are tested by Sigma Analytical and tracked by TruTrace Blockchain Technologies.

Dr. Justin Grant, Avicanna’s Executive Vice President of Scientific Affairs commented, “After 3 years of collaborating with world class Toronto-based researchers and clinicians including those at the University of Toronto and UHN, we are excited to offer the most consistent formulary of advanced medical cannabis products to prescribers and principal investigators, including Dr. Clarke, to further demonstrate the potential therapeutic efficacy of cannabinoids.”

Avicanna’s Rho products will be exclusively available to patients through the Medical Cannabis by Shoppers™ Inc. portal in addition to UHN clinicians through the MC-RWE Study by the end of July 2020. Additionally, Avicanna and Medical Cannabis by Shoppers™ Inc. are co-hosting a medical symposium in line with the launch of the Rho Phyto product line entitled, “MEDICAL CANNABIS 2.0: Advancements in Cannabinoid Research, Product Offerings and Patient Access”. The symposium will be held on a virtual platform on July 21, 2020 and will include Dr Clarke’s presentation “Real World Evidence and The Future of Medical Cannabis / Cannabinoid medicine for Pain Management” that will provide further insights on the MC-RWE Study. For registration and more information please visit (https://www.avicanna.com/symposium/).

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of [●]. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Announces Co-development of a Cannabinoid-based Formulation for Treatment of COVID-19 related Lung Inflammation with Support from the Mitacs Accelerate Program

Avicanna Announces Co-development of a Cannabinoid-based Formulation for Treatment of COVID-19 related Lung Inflammation with Support from the Mitacs Accelerate Program

Avicanna further expands its existing research collaboration with Dr. Christine Allen’s Research Group at the University of Toronto to include the development of a cannabinoid-based pharmaceutical for the treatment of COVID-19 induced lung inflammation

This project proposal has been peer-reviewed and has successfully obtained funding from the Mitacs research internship program

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

Toronto, Ontario – June 23, 2020 – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, announced today that the Company has expanded its research collaboration with Dr. Christine Allen’s Research Group (“CARG”) in the Leslie Dan Faculty of Pharmacy at the University of Toronto, to include the expedited development of a cannabinoid-based treatment for lung inflammation associated with COVID-19.

Dr. Christine Allen is a global leader in the research and development of pharmaceutical formulations with a proven track record of 100+ publications, patents, and awards. For the past three years, Avicanna and CARG have developed novel cannabinoid-based products, including Avicanna’s CBD-based derma-cosmetic product line Pura Earth™, the Company’s line of medical cannabis products Rho Phyto™, and Avicanna’s pharmaceutical product pipeline.

The combined expertise of Avicanna and CARG will fast-track the development of an advanced pharmaceutical formulation of cannabinoids and both its clinical development and route to market. The project aims to develop a formulation of cannabinoids that aid in the treatment of lung inflammation, in patients suffering from severe COVID-19.

Dr. Justin Grant, Avicanna’s Executive Vice President of Scientific Affairs, commented, “We are excited to expand our research collaboration with Dr Allen’s group at the University of Toronto with support from the Mitacs research internship program. This funding will allow us the necessary resources to complete preclinical studies of our most promising cannabinoid formulations. We feel this is a project that may provide a significant impact.”

Dr. Allen, Professor at the University of Toronto, commented, “I am very pleased to leverage our knowledge and expertise in cannabinoid research and drug formulation to mitigate the suffering of patients with severe COVID-19. This is another terrific example of our productive collaboration with Avicanna.”

About Mitacs

Mitacs is a not-for-profit organization that fosters growth and innovation in Canada by solving business challenges with research solutions from academic institutions. Mitacs is funded by the Government of Canada, the Government of Alberta, the Government of British Columbia, Research Manitoba, the Government of New Brunswick, the Government of Newfoundland and Labrador, the Government of Nova Scotia, the Government of Ontario, Innovation PEI, the Government of Quebec, and the Government of Saskatchewan.

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of Avicanna and CARG to fast-track the development of an advanced pharmaceutical formulation of cannabinoids as well as its clinical development and route to market, the ability of Avicanna and CARG to develop a formulation of cannabinoids to aid in the treatment of lung inflammation in patients suffering from severe COVID-19. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna to Host Virtual Symposium Titled “Medical Cannabis 2.0” on July 21st, 2020 in Partnership with Medical Cannabis By Shoppers™ in Anticipation of the Launch of its Rho Phyto™ Product Line

Avicanna to Host Virtual Symposium Titled “Medical Cannabis 2.0” on July 21st, 2020 in Partnership with Medical Cannabis By Shoppers™ in Anticipation of the Launch of its Rho Phyto™ Product Line

The symposium will present the evolution of medical cannabis including the Avicanna-led advancements in R&D for novel cannabinoid delivery forms and formulations in addition to enhanced access for patients by Medical Cannabis by Shoppers.

This year’s annual symposium coincides with the expected launch of Avicanna’s RHO Phyto advanced medical cannabis products and In the wake of COVID-19, a virtual format will be used that allows for a broader reach to global patients and the medical community.

Leading experts in R&D and clinical development will discuss the potential therapeutic benefits of medical cannabis to address the importance of working with healthcare practitioners for safe and effective dosing.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, June 22nd, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that on July 21st, 2020 it will be hosting a virtual symposium titled “Medical Cannabis 2.0” in partnership with Medical Cannabis by Shoppers. Patients and health care practitioners globally can join the virtual symposium to learn more about the potential advantages of medical cannabis and the advancement of product offerings including Avicanna’s RHO phyto product offerings and advanced cannabinoid research collaboration at the University of Toronto. In addition, experts will discuss the pharmacology, safety, and dosing guidelines of medical cannabis for therapeutic conditions.  This includes presentations on the, efficacy of cannabinoids for chronic pain, anxiety, depression, and other comorbidities as well as an overview of the patient pathway to Medical Cannabis by Shoppers.

“In this unprecedent time, where patients and practitioners have many questions and are seeking alternative and natural solutions, we are pleased to welcome you all to our virtual symposium on medical cannabis. My talk on Common Medical Comorbidities will discuss how medical cannabis can be used for the management of clinical conditions that have common associated comorbidities of anxiety, depression and appetite and sleep disorders. Alongside my colleagues and collaborators, we hope you will find value in all our presentations and that they will provide important information, as patients and health care practitioners seeking to learn more about medical cannabis.” – Dr. Amza Ali, Chief Medical Officer of Avicanna

Discussions will be led by clinicians and scientists from the Avicanna team as well as from prestigious Canadian academic and clinical research organizations including the University of Toronto and University Health Network’s Toronto General Hospital.

The agenda for the virtual symposium is as follows:

  • An Introduction to Cannabinoids and Their Pharmacology – Dr. Ruth Ross (Professor and Chair, Department of Pharmacology & Toxicology, Faculty of Medicine, University of Toronto, Senior Scientist, Campbell Family Mental Health Research Institute, CAMH)
  • Advanced Cannabinoid Research and drug development at the University of Toronto – Dr. Pauric Bannigan (Post-Doctoral Fellow from Dr Christine Allen’s laboratory at the Leslie Dan Faculty of Pharmacy, University of Toronto)
  • Medical Cannabis 2.0 and Avicanna’s RHO Phyto product offerings– Dr. Justin Grant (Executive Vice President of Scientific Affairs, Avicanna)
  • The Potential of Cannabinoids for Chronic Pain – Dr. Hance Clarke (Staff Anesthesiologist
    Director Pain Services, Director Good Hope Ehlers Danlos Clinic, Medical Director of The Pain Research Unit, Department of Anesthesia and Pain Management, Toronto General Hospital, University Health Network, Associate Professor, Department of Anesthesia, University of Toronto)
  • Anxiety, Depression and Other Comorbidities in Patients to be Treated with Cannabinoids: Implications for Optimal Care – Dr. Amza Ali (Chief Medical Officer, Avicanna)
  • An Introduction to Medical Cannabis by Shoppers Drug Mart – Neil D’Souza (Senior Manager, Operations, Medical Cannabis by Shoppers Drug Mart)
  • The Future of Medical Cannabis Panel Discussion– (Aras Azadian, CEO of Avicanna Inc. / Pat McCutcheon, CEO MediPharm Labs / Kaveh Kahen, CEO of Sigma Analytics)

To register for the virtual symposium please follow: www.avicanna.com/symposium

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of the Company to successfully host a virtual symposium. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Avicanna Inc.

Avicanna Completes First Ever Export of Feminized Hemp Seeds For Cultivation Use to the United States and Closes the Initial Sale

Avicanna Completes First Ever Export of Feminized Hemp Seeds For Cultivation Use to the United States and Closes the Initial Sale

Seven million CBG dominant feminized seeds have been successfully exported to the US from Colombia and an additional seventy-five million seeds remain in inventory for sale to international markets.

The successful export marks the commencement of revenue generation from Avicanna’s seed business unit and another validation of it’s diversified income streams.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

TORONTO, June 18, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that, through its cultivation subsidiary Santa Marta Golden Hemp S.A.S. (“SMGH“), it has pioneered the first ever export feminized of hemp seeds to the US and completed the first sale of seeds for net revenue of CAD$380,000.

The export is the first ever export of cannabis seeds from Colombia and was accomplished thanks to the support and coordination of the Colombian Institute of Agriculture (the “ICA“), and the Ministries of Agriculture and Justice for Colombia.

The seeds sold were produced from Avicanna’s CBG dominant cultivar registered by SMGH in Colombia. A total of seven million (7,000,000) seeds have been successfully imported into the US so far for sale. Initial sales have resulted in revenue of CAD$380,000, with more revenue expected to be generated from several pending transactions.

SMGH has current inventory of an additional seventy-five million (75,000,000) premium, stabilized and feminized seeds available for export and sale. Avicanna intends to leverage the expertise of its breeding and seed production division, branded as Avesta Genetica, to produce seeds for a global marketplace in which there is increasing demand at both a business-to-business and business-to-consumer level for hemp and cannabis seeds for growing. The Avesta Genetica program continues to evolve its already advanced catalogue with genetics expressing rare cannabinoids and advancing its commercial genetics expressing commercial cannabinoids such as CBD and THC.

Aras Azadian, CEO of Avicanna said: “We are proud to see another one of our business units mature into revenue generation as a part of our diversified income streams within the global marketplace. Since inception we have focused on the development and advancement of our intellectual property, which ranges from seeds to finished products, and are happy to see the industry continue to evolve to find utility for our IP.

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to continue to complete exporting hemp seeds to the US, and the Company’s ability to continue selling the hemp seeds in the US. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Avicanna Inc.

Source

Avicanna Successfully Registers the First Group of its Pura Earth™ CBD-Based Derma-Cosmetic Product Line in the European Union in Preparation for its Commercialization

Avicanna Successfully Registers the First Group of its Pura Earth™ CBD-Based Derma-Cosmetic Product Line in the European Union in Preparation for its Commercialization

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

The initial registration is the final step in authorization of the brand’s launch of the full suite of 9 products which will be permitted to be sold in the European Union and United Kingdom.

The registration marks Avicanna’s Pura Earth CBD products as the first registered CBD-based derma-cosmetic brand in the European Union backed with human clinical studies. 

TORONTO, June 9, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that the Company has satisfied all regulatory requirements to successfully register the first three products of its premium CBD-based derma-cosmetic product line, Pura Earth™, on the European Commission’s Cosmetic Product Notification Portal (the “CPNP“). The first group of products registered with the CPNP are Pura Earth’s Anti-Aging Cream, Intensive Moisturizing Cream and Clear Skin Gel products.

In addition to the clinical studies conducted on two of the registered products, the Company has provided the CPNP with long-term stability studies on its initial SKUs along with primary skin irritation evaluations for the entire portfolio in order to certify the safety and stability of the Pura Earth formulations. Two additional SKUs will be registered in Q3 followed by the rest of the portfolio in Q4.

Aras Azadian, CEO of Avicanna said: “We take pride in our scientific and evidence-based approach within all of our product categories including our consumer products and have taken the appropriate steps to ensure our products would meet the European Union quality and safety standards prior to commercialization. We are thrilled to be getting closer to launch, what we believe to be, the most advanced and the only clinically backed CBD derma-cosmetic line into the European marketplace with potential for incredible success.”

About Avicanna Inc.

Avicanna is an Ontario, Canada based corporation focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products through its two main business segments, cultivation and research and development.

Avicanna’s two majority-owned subsidiaries, Sativa Nativa S.A.S. and Santa Marta Golden Hemp S.A.S., both located in Santa Marta, Colombia are the base for Avicanna’s cultivation activities. These two companies are licensed to cultivate and process cannabis for the production of cannabis extracts and purified cannabinoids including cannabidiol (CBD) and tetrahydrocannabinol (THC).

Avicanna’s research and development business is primarily conducted out of Canada at its headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto. Avicanna’s scientific team develops products, and Avicanna has also engaged the services of researchers at the Leslie Dan Faculty of Pharmacy at the University of Toronto for the purpose of optimizing and improving upon its products.

Avicanna’s research and development and cultivation activities are focused on the development of its key products, including plant-derived cannabinoid pharmaceuticals, phyto-therapeutics, derma-cosmetics, and Extracts (defined as plant-derived cannabinoid extracts and purified cannabinoids, including distillates and isolates), with a goal of eventually having these products manufactured and distributed through various markets.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at info@avicanna.com.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of Avicanna to register additional products with the CPNP, the Company’s ability to maintain any product registrations with the CPNP in good standing, and the Company’s ability to commercialize the Anti-Aging Cream, Intensive Moisturizing Cream and Clear Skin Gel products in the United Kingdom.. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, the delay or failure to receive regulatory approvals, and the risk factors set out in the Company’s annual information form dated April 15, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE Avicanna Inc.

Avicanna Reports First Quarter 2020 Financial Results and Provides Corporate Update

Avicanna Reports First Quarter 2020 Financial Results and Provides Corporate Update

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TORONTO, May 25, 2020 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces results for the first quarter ended March 31, 2020.

Aras Azadian, Chief Executive Officer of Avicanna, commented “Our management team demonstrated incredible execution ability by first ensuring the safety of our team and in parallel reducing costs, all while continuing to advance our commercial activities. We are also pleased to demonstrate the maturity of the company’s global vertical integrated commercial infrastructure which is exhibited through significantly reduced capex and increased efficiencies in our global operations.”

First Quarter Operational Highlights

  • Early in 2020, the Company reacted immediately to the COVID-19 crisis and initiated several cost cutting and optimization initiatives to ensure that it directed its resources to its strategic and commercial, revenue-focused activities. These measures resulted in operating expenditures decreasing by approximately 45% from Q4 2019 to Q1 2020. In addition, the Company reduced its headcount by approximately 70 persons in the quarter, which represented approximately 30% of the overall global headcount. Furthermore, management reduced their pay by approximately 30% in an effort to conserve cash and resources. This, coupled with the completion of capex-heavy projects, significantly reduced the company’s cash burn rate. In addition, our minority partners in our cultivation subsidiaries, Santa Marta Golden Hemp S.A.S. (“SMGH”) and Sativa Nativa S.A.S. (“Sativa Nativa”), contribute their portion of capital on an ongoing basis. As such the Company does not carry full cash burden of operations or capital expenditures.

  • In parallel with the cost cutting initiatives, the Company’s commercial preparations and initiatives continue to progress and saw growth in its revenue by approximately 112% over the fourth quarter of 2019. The Company is expecting revenues to continue to increase through fiscal 2020 putting it in the position to generate positive cash flow by the end of 2020.

  • Entered into an exclusive supply agreement with Medical Cannabis by Shoppers Drug Mart Inc. (“Shoppers”), Canada’s largest and most trusted pharmacy chain. Under the terms of the agreement the Company’s proprietary brands, Rho Phyto and Pura Earth will be distributed by Shoppers in Canada. Rho Phyto products to be distributed under this agreement have been approved for commercial sale by Health Canada.

  • Entered into an exclusive import and distribution agreement with Cannvalate Pty. Ltd (“Cannvalate”), an Australian based cannabis company. Under the terms of the agreement Cannvalate will distribute the Rho Phyto line of products in Australia. The Company is expecting initial orders in the final quarter of 2020.

  • Completed all 3 clinical trials for Pura Earth products that were commenced during the third quarter of 2019. The products involved were Avicanna’s formulations targeted at cosmetic factors associated with aging, acne prone skin, and eczema prone skin. The successfully completed trials involved 156 patients that were tested for both safety and certain derma-cosmetics endpoints. The results of all three studies were positive with no adverse effects, making Pura Earth one of the only cannabinoid consumer product lines with human safety and efficacy data.

  • Received amendment by Health Canada to the Cannabis Research Licence to include an additional lab within JLABS @ Toronto, Avicanna’s R&D headquarters in the MaRS Discovery District.

  • The Company ranked highest amongst global cannabis companies in the SAM Corporate Sustainability Assessment (“CSA”), a sustainability index that has become the basis for numerous S&P Global ESG indices and showcases the sustainability performance of some of the world’s largest companies.

Financial Highlights

  • The Company recognized revenue of $260,903 from the commencement of sales through various divisions. There were no write-downs or impairments for 2019.

  • In January, the Company closed a financing round, at a premium to the then market price of the Company’s stock, which added approximately CAD$2.06 million of cash to the Company’s balance sheet.

  • Subsequent to quarter end, at the height of the COVID-19 pandemic, the Company closed a strategic non-brokered private placement for $2.56 million, issuing 3,200,000 units at a price of $0.80 per unit. The financing primarily included strategic partners, including Tasly International Capital Limited, a division of Tasly Holding Group Co., Ltd., a large healthcare and pharmaceutical group in China.

Recent Developments

  • In April 2020, through its Avesta Genetica genetics and seed division, SMGH completed the first known industrial scale seed harvest in Colombia which included approximately 80 million premium and feminized cannabigerol (“CBG”) dominant seeds. The seeds have been tested for germination and attained feminization rates of 99%, which are deemed premium within the global seed market. The seeds will be utilized for local production, sales and exports.

  • In May 2020, the Company was approved for the first ever export of hemp seeds (genetics) from Colombia from its majority owned subsidiary Santa Marta Golden Hemp S.A.S. (“SMGH”) in Santa Marta, Colombia. This export was authorized with support from the Colombian ministries of justice and agriculture.

  • In May 2020, the Company entered into a strategic manufacturing and intellectual property licensing agreement with MediPharm Labs Inc. (“MediPharm”) involving licensed production, domestic and international distribution and intellectual property licensing. Under the terms of the agreement, MediPharm use the specialized contract manufacturing capabilities resident at its state-of-the-art Canadian production facility to produce Avicanna’s advanced Rho Phyto medical cannabis products and Pura Earth topicals under license for commercial sales through Medical Cannabis by Shoppers. The partnership provides Avicanna with a commercial pathway to Canadian and international sales, as well as pharmaceutical manufacturing of its products destined for clinical development with its Canadian clinical partners. Additionally, Avicanna will grant MediPharm a license to use proprietary Avicanna formulations to develop additional MediPharm Labs and white label branded products for the domestic and international market. MediPharm has proven expertise in product development and will leverage its in-house sensory testing, processing and packaging capabilities to manufacture finished products using these formulations. MediPharm Labs’ pharmaceutical and GMP-certified capabilities and international supply chain expertise will be deployed to produce and deliver the proprietary finished products to partners worldwide.

Source