Avicanna Commences Trading on the OTCQX Market in the United States

Avicanna Commences Trading on the OTCQX Market in the United States

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TORONTO, Oct. 15, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF), a biopharmaceutical company focused on the development, manufacturing and commercialization of cannabinoid-based products, is pleased to announce that its common shares will commence trading today on the OTCQX® Best Market in the United States under the symbol “AVCNF”.

The OTCQX Best Market provides added service, value and convenience to U.S. investors, brokers and institutions seeking to trade Avicanna shares. OTCQX is OTC Markets Group’s premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.

“Trading on the OTCQX Market represents a significant step in Avicanna’s capital markets strategy and journey to become an international leader in the biopharmaceutical industry. The achievement will allow us increased access to the U.S. capital markets and industry participants with extensive experience in evaluating pharmaceutical companies. Trading on OTCQX is also expected to provide a streamlined process for U.S. investors to transact in our securities and enhanced liquidity for all shareholders,” stated Setu Purohit, President of Avicanna Inc.

About Avicanna

Avicanna is an Ontario 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

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the expected benefits from the commencement of trading on the OTCQX Market. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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Avicanna (TSX: AVCN) Announces First Commercial Sale of the Pura Earth Derma-Cosmetics line of CBD Products

Avicanna (TSX: AVCN) Announces First Commercial Sale of the Pura Earth Derma-Cosmetics line of CBD Products

Pura Earth™ derma-cosmetics expected to be available in approximately 59 retail locations throughout Colombia later this month

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TORONTO, Oct. 2, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce the first completed commercial sale of its Pura Earth™ derma-cosmetics line of CBD products.

The sale was completed through Avicanna’s wholly owned subsidiary, Avicanna LATAM S.A.S., to Percos S.A. (“Percos”), Avicanna’s exclusive distributor of Pura Earth™ derma-cosmetics products in Colombia. The initial order from Percos included Avicanna’s Anti-Aging Treatment, Anti-Aging Serum, Clear Skin Treatment and Intensive Skin Conditioning Treatment, which are expected to be available for purchase in approximately 59 retail locations throughout Colombia later this month. Avicanna expects to launch the Pura Earth™ brand in additional international jurisdictions in early 2020.

The Pura Earth™ products were produced with Avicanna’s proprietary formulations using cannabidiol (“CBD”) isolate extracted by the Company’s majority owned subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), from cannabis grown and cultivated by SMGH in Santa Marta, Colombia.

“This initial commercial sale of our Pura Earth™ line of CBD products is a significant step towards validating Avicanna’s vertically integrated business model and demonstrating our ability to take a product from concept, through the development stage and into the commercialization stage.” stated Aras Azadian, Chief Executive Officer. “We conceptualized the Pura Earth™ brand, and then our scientists developed and optimized the final line of products, which contain CBD sourced directly from our subsidiaries, and we are now marketing these products to retailers and distributors. Most importantly, these are science based products that we have tested in human trials lead by Avicanna.”

“We believe that this initial sale of Pura Earth™ products marks a significant step towards commercialization and maturity of our company as we reach our goal of building a global organization focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products.” concluded Mr. Azadian.

About Pura Earth™

Pura Earth™ is Avicanna’s derma-cosmetic line which utilizes a combination of purified cannabidiol (CBD) and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura Earth™ products are formulated with CBD cultivated under organic and sustainable conditions by Avicanna’s subsidiary in Santa Marta, Colombia in the foothills of the Sierra Nevada Mountains. The Pura Earth™ product line was designed by Avicanna and optimized in partnership with the University of Toronto using Avicanna’s proprietary formulations. The Pura Earth™ product line is manufactured by Altea Farmaceutica S.A. (“Altea”) under Good Manufacturing Practices standards. In addition, Centro de Atención e Investigación Médica CAIMED S.A.S. is currently completing clinical studies on selected Pura Earth™ products in order to demonstrate their effectiveness with specific cosmetic endpoints, such as reduction of fine lines associated with aging, efficacy as a moisturizer for eczema prone skin, and reduction of sebum and redness attributed to acne.

About Avicanna

Avicanna is an Ontario 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

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the number of retail locations at which the Pura Earth products are expected to be available and the timing for the launch of the Pura Earth products both in Colombia and internationally. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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Avicanna (TSX: AVCN) to Open its Next Phase Extraction Facility in Colombia’s Free Trade Zone

Avicanna (TSX: AVCN) to Open its Next Phase Extraction Facility in Colombia’s Free Trade Zone

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TORONTO, Sept. 30, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce plans to build a new industrial scale 11,000 sq. ft (>1,000 square meter) cannabinoid extraction and final product manufacturing facility in a Colombian free trade zone near Santa Marta. This new facility is expected to provide for significant tax advantages and represents the third phase of the Company’s extraction strategy, building on its existing subsidiaries’ extraction and manufacturing operations in Colombia with current aggregate annual capacity of dried flower – post extraction and isolation – of approximately 100,000 kilograms.

The operation of the new facility will be conducted under a proposed new subsidiary (“Subco“), which will be 60% owned by the Company and 40% owned by Inmobiliaria Bondue S.A.S. (“Bondue“). The Company expects operations at the facility to commence in the second half of 2020.

The Company and Bondue have entered into a commercial lease agreement for space to house the facility, for an initial term of five years, located in one of Colombia’s free trade zones, which provides for significant tax advantages for activities that are conducted on the property.

Contributing to expanding Avicanna’s vertical integration strategy, the new facility will use cannabis sourced from Avicanna’s other majority owned Colombian based subsidiaries, Sativa Nativa S.A.S (“Sativa Nativa“) and Santa Marta Golden Hemp S.A.S. (“SMGH“), which are situated in Santa Marta. The extracts (active pharmaceutical ingredients) and final products produced at the facility are expected to be distributed internationally with additional tax savings.

Aras Azadian, Avicanna’s Chief Executive Officer, stated, “We near the final phase of our initial cultivation and extraction footprint and are analyzing and preparing for our future scale up with focus on efficiencies across all aspects of operations including CAPEX, OPEX, regulations and tax. This new facility’s proposed contribution to our API business, which benefits from its location in a free trade zone, makes it a fine example of Avicanna’s focus on efficiencies across all of its business units and our aim to ensure each unit, including the ones that are focused on cannabinoids as API’s, are both efficient profit centers and are competitive in a commodifying global landscape.”

Sativa Nativa and SMGH have licenses to cultivate, manufacture, extract and sell medicinal cannabis in Colombia. Sativa Nativa’s cultivation facilities include 50,000 square feet of low tech green house (shade house) and 20,000 square feet of customized high tech greenhouse space. SMGH has applied for Good Agricultural and Collection Practices (“GACP“) and organic certifications and operates cultivation facilities that include 200,000 square feet of low tech green house (shade house) space and 20,000 square feet of customized high tech greenhouse space. SMGH is currently expanding its green house operation by approximately 70,000 square feet, and Sativa Nativa is expanding its green house operation by approximately 50,000 square feet. The Company expects these expansion activities to be completed by the end of 2019.

In addition, through a joint venture with Sigma Analytical Services Inc., Avicanna is currently building a first cannabinoids-only, analytical laboratory and independent testing service in South America to meet Health Canada, European Pharmacopeia, US Pharmacopeia, and compliant to EU Good Manufacturing Practices (“GMP“) standards. This laboratory will provide a variety of large licensed producers to small scale partner farmers with a comprehensive suite of cannabis specific testing, which will include pesticides, heavy metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid and terpene profiling. With technical transfer currently underway, the completion and launch of the laboratory services is expected to occur early in the first quarter of 2020.

In connection with the lease agreement mentioned above, Bondue, a “related party” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), is a party to the Lease Agreement and the execution thereof is considered a “related party transaction” for the purposes of MI 61-101. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 and the minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on sections 5.5(a) and 5.7(a), respectively, of MI 61-101 as the fair market value of the transaction, insofar as it involves related parties, is not more than 25% of the Company’s market capitalization.

About Avicanna
Avicanna is an Ontario 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 press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Avicanna’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Avicanna’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, the expected size of the new facility, the location of the new facility, the proposed ownership of Subco, the expected date for the commencement of operations at the new facility, the tax advantages to be recognized by Avicanna, the source for cannabis to be processed at the new facility, the intent to distribute internationally, the expected completion dates for the ongoing expansion of the Sativa Nativa and SMGH facilities, the tests to be offered at the Company’s proposed laboratory and the expected completion and launch date for the Company’s proposed laboratory.

By identifying such information and statements in this manner, Avicanna is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avicanna to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Avicanna has made certain assumptions.

Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: decreases in the prevailing prices for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s proposed operations; dependence upon third party service providers, skilled labor and other key inputs; risks inherent in the agricultural and retail business; intellectual property risks; risks related to litigation; dependence upon senior management; and the other risks disclosed in the Company’s long form final prospectus dated July 8, 2019. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although Avicanna believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Key assumptions used herein are that the Company will be able to complete construction of the proposed facility in accordance with the current estimates of management and within current forecasts, Bondue will not be prohibited from incorporating a joint venture with the Company, there will not be significant changes to Colombian tax laws, there will not be any prohibition on importing cannabis from Sativa Nativa or SMGH into the free trade zone, the expansion of Sativa Nativa and SMGH’s facilities will not encounter any unexpected costs or delays, SMGH will continue to operate in the ordinary course and Sigma Analytical Services Inc. and the Company will not experience unforeseen cost overruns or delays in the completion of the proposed laboratory. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Avicanna does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Avicanna or persons acting on its behalf is expressly qualified in its entirety by this notice.

SOURCE Avicanna Inc.

avicanna.com

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Avicanna (TSX: AVCN) Aras Azadian, CEO & Co-Founder to speak at the 12th Annual International Natural & Organic Cosmetics Conference About Organic CBD Skin Care and Pura Earth™ in Berlin, Germany

Avicanna (TSX: AVCN) Aras Azadian, CEO & Co-Founder to speak at the 12th Annual International Natural & Organic Cosmetics Conference About Organic CBD Skin Care and Pura Earth™ in Berlin, Germany

/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, Sept. 23, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“)(TSX: AVCN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that its CEO and Co-Founder Aras Azadian will be a highlighted speaker on the global organic cosmetics industry and the use of CBD in cosmetic products and specifically Avicanna’s organic CBD cosmetic line Pura Earth at a leading industry conference in Berlin, Germany. The 12th International Natural & Organic Cosmetics Conference is an industry leading event at which executives from global cosmetics companies will focus on essential topics and current industry trends in presentations, panels and discussion groups.

Panel Discussion Details:

Organic Cosmetics – Newcomers & Best Practices
Tuesday, September 24th 3:15 – 3:45pm
Ellington Hotel, Berlin Germany 

As a result of Avicanna’s upcoming global launch of its Pura Earth™ derma-cosmetics products, Mr. Azadian brings extensive knowledge related to this years’ “What’s Next” Key Topic: Cannabidiol as a Cosmetic Ingredient. Aras co-founded Avicanna with the vision of establishing a bio-pharmaceutical company focused on medical and pharmaceutical applications of cannabinoids.

“As a front runner in the development, and commercialization of plant-derived organic and sustainable cannabinoid-based products Avicanna has been instrumental in the evolution of the CBD cosmetics market through unprecedented quality standards and an evidence based approach, and I look forward to sharing our expertise with my global colleagues. This platform is an excellent forum to meet like-minded executives and discuss how we operate in this hypergrowth industry and the current gaps related to CBD consumer products” stated Aras Azadian, Chief Executive Officer.

The cosmetics industry is actively evaluating CBD products however, due to its infancy, regulatory limitations, lack of data to substantiate claims and the current low-quality products in the market certain regions have progressed with significant hesitancy. Avicanna’s extensive knowledge generated through years of R&D work with cannabidiol and through the development and optimization of its Pura Earth™ line of derma-cosmetics will educate participants to understand how CBD is working on a molecular level in cosmetics, what to look out for when evaluating CBD products and how this ingredient will influence the cosmetics industry in the future.

About Pura Earth™

Pura Earth™ is Avicanna’s derma-cosmetic line which utilizes a combination of purified cannabidiol (CBD) and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura Earth™ products are formulated with CBD cultivated under organic and sustainable conditions by Avicanna’s subsidiaryin Santa Marta, Colombia in the foothills of the Sierra Nevada Mountains. The Pura Earth™ product line was designed by Avicanna and optimized in partnership with the University of Toronto using Avicanna’s proprietary formulations. The Pura Earth™ product line will be manufactured by Altea Farmaceutica S.A. (“Altea“) under Good Manufacturing Practices standards. In addition, Centro de Atención e Investigación Médica CAIMED S.A.S. is currently completing clinical studies on selected  Pura Earth™ products in order to demonstrate their effectiveness with specific cosmetic endpoints, such as reduction of fine lines associated with aging, efficacy as a moisturizer for eczema prone skin, and reduction of sebum and redness attributed to acne. Pura Earth is expected to be launched originally in Colombia in Q4 2019 followed by the European Union in early 2020.

About Avicanna
Avicanna is an Ontario 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
Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the completion of the speaking engagement and the expected timing of the launch of the Pura Earth products. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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Avicanna (TSX: AVCN) Enters an Exclusive Research Agreement with the University of Guelph for Proprietary Cannabinoid-based Products and Formulations to Treat Psychiatric Disorders

Avicanna (TSX: AVCN) Enters an Exclusive Research Agreement with the University of Guelph for Proprietary Cannabinoid-based Products and Formulations to Treat Psychiatric Disorders

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TORONTO, Sept. 13, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it will further the research and development and pre-clinical analysis of its proprietary prescription and over-the-counter (“OTC“) cannabinoid products and formulations through an exclusive research agreement with the University of Guelph in Canada for a project to be performed by Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, Ontario Veterinary College, Department of Biomedical Sciences, as principal investigator.

“We believe the studies that we have designed with Dr. Khokhar, which will be performed by his team at the University of Guelph, will provide a unique opportunity to evaluate disorders of brain health and are an essential step in a committed research program for evaluating the role of cannabinoids as therapies for several human neurological disorders,” said Dr. Amza Ali, the Company’s Chief Medical Officer.

The collaboration with the University of Guelph will focus on evaluating a variety of dosage forms on preclinical models of several human psychiatric conditions, including depression, anxiety, schizophrenia, PTSD and substance abuse. A unique aspect of this collaboration is to determine brain cannabinoid levels and cerebral activity function using electrophysiology and behavioral methods with various Avicanna formulations and common to rare cannabinoids.

Additional studies include research in the treatment of nicotine and alcohol addiction with the use of various cannabinoid formulations provided by Avicanna. Analysis of vaporizer formulations amongst others will be tested on preclinical models of neuropsychiatric disorders to potentially reduce/replace doses of THC with CBD.

“Avicanna is focused on elevating the scientific research related to cannabinoid products through its collaborations with world-class research institutions in order to provide patients and physicians with products that offer a well understood mechanism of action, efficacy, and safety profile. We are excited to advance our research and development program for psychiatric disorders and substance dependency, building on our data and expertise within the cannabinoid market,” stated Aras Azadian, Chief Executive Officer.

The services to be performed under the research agreement will be provided on an exclusive basis and Dr. Khokhar’s laboratory has agreed to not conduct testing on any formulations or products similar to the Company’s products during the term of the agreement. All research data and research reports created under the research agreement will remain the sole property of Avicanna, however, Avicanna has granted a license to the University of Guelph to use such reports and data for research and academic purposes. The studies under this agreement are expected to take two (2) years and the cost of the studies are expected to be approximately $300,000.

About Avicanna

Avicanna is an Ontario 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

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the intended outcomes of the studies to be conducted under the research agreement, the disorders to be studied and the expected term and cost of the studies. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

SOURCE Avicanna Inc.

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Avicanna Strengthens Position as a Canadian Leader in Cannabinoid R&D Through University of Toronto Collaboration & University of Guelph Agreements

Avicanna Further Strengthens its Position as a Canadian Leader in Cannabinoid Based Research and Development with Expansion of University of Toronto Collaboration and Execution of University of Guelph Research Agreement

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TORONTO, Aug. 30, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that it has expanded the scope and duration of its research and collaboration agreement with Dr. Christine Allen’s research group at the University of Toronto. Additionally, Dr. Allen has stepped down as Avicanna’s Chief Scientific Officer, having accepted a prominent role with the University of Toronto, however, Dr. Allen will increase her involvement in Avicanna’s pharmaceutical development and optimization through the expanded collaboration between Avicanna and Dr. Allen’s research group. Avicanna further announces that it has entered into a research agreement with the University of Guelph. The total amount that the Company expects to spend on its research and development activities in connection with these agreements is approximately as follows: (i) $257,000 in 2019; (ii) $410,000 in 2020; (iii) $395,000 in 2021 and (iv) $198,000 in 2022.

University of Toronto

Avicanna has amended its sponsored research and collaboration agreement with the University of Toronto to extend its partnership with Dr. Christine Allen’s research group to November 2022. The expanded scope of the sponsored research and collaboration agreement outlines several projects including the characterization and pre-clinical analysis of Avicanna’s pipeline of phyto-therapeutic & pharmaceutical products and the development of other pharmaceutical dosage forms including sustained release formulations. Additional projects under the research and collaboration agreement include analysis of the safety, efficacy and potential synergies of cannabinoids and other therapeutic agents.

Additionally, Avicanna will collaborate with the University of Toronto to design and develop advanced nanoparticle and microparticle-based pharmaceutical formulations comprised of cannabinoid/terpene-based therapies with a specific focus on applications in cancer, osteoarthritis and inflammatory bowel disease.

In addition, Dr. Allen has accepted a role as Associate Vice-President & Vice-Provost, Strategic Initiatives at the University of Toronto. In connection with her appointment, Dr. Allen has stepped down as the Company’s Chief Scientific Officer but will continue to lead Avicanna’s pharmaceutical development efforts through the extended research & collaboration agreement.

Dr. Justin Grant, Avicanna’s Executive Vice-President of Scientific Affairs added “The scientific rigor and advanced drug delivery research in Dr. Christine Allen’s laboratory aligns with Avicanna’s goal to develop safe, high quality and effective cannabis-based pharmaceutical products tailored for specific symptoms and indications.”

“I would like to take this opportunity to thank Dr. Christine Allen for her leadership in the establishment of our research and development practices, which now extend globally across four active laboratories, and the completion of several product categories including derma-cosmetics, phyto-therapeutic and specific pharmaceuticals. As we proceed to the next stage, which is commercialization, we are grateful to have Dr. Allen’s continued support in development of the more advanced pharmaceutical products where she is a world-renowned expert.”  said Aras Azadian, Chief Executive Officer of Avicanna.

Dr. Allen commented, “My laboratory is delighted to continue to work with Avicanna and remains committed to the evidence-based development of advanced dosage forms of cannabinoids with targeted safety and efficacy profiles.”

University of Guelph

Avicanna has entered into a research agreement (the “Research Agreement“) with the University of Guelph for a project to be performed by Dr. Max Jones, Associate Professor, Department of Plant Agriculture, as principal investigator. Dr. Jones has been involved in the development of Avicanna’s long term genetics and breeding program over the past six (6) months. The program is focused on the stabilization of unique commercial strains, long term selective breeding programs to develop genetics with increased efficiency and also increased expression and characterization of rare cannabinoids. The project to be performed under the Research Agreement is expected to provide genetic analysis of Avicanna’s cultivars to provide a genetic “fingerprint” for each cultivar and determine their relative relationships (i.e. genetic distance) to one another. Additionally, Dr. Jones’ group is hopeful to produce polyploid plants for Avicanna’s breeding program and establish and optimize tissue culture and micropropagation methods that can be utilized in Avicanna’s cultivation sites in Colombia. All research data and research reports created under the Research Agreement will remain the sole property of Avicanna, however, Avicanna has granted a license to the University of Guelph to use such reports and data for research and academic purposes. The study is expected to be completed in two (2) phases and will continue for a period of one (1) year from the date the University of Guelph obtains a permit from Health Canada to import certain plant material from the Company’s subsidiaries in Colombia. The cost of the study is expected to be approximately $59,360.

Aras Azadian, the Company’s Chief Executive Officer, stated “As a leading company focused on research and development and intellectual property development in the cannabinoid industry, we believe it is imperative to have this evidence-based philosophy in all of our business units including our cultivation projects, and its genetics and seed programs. With this collaboration we aim to ensure that Avicanna is prepared for the future of this emerging industry by staying ahead of the curve through our advanced genetic development and breeding programs.”

About Avicanna

Avicanna is an Ontario 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

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the intended outcomes of the studies to be conducted under the research and collaboration agreement with the University of Toronto and the expected outcomes of the studies to be conducted under the Research Agreement. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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Avicanna (TSX: AVCN) Completes its First Exportation of Cannabinoids from Colombia to Canada for Scientific Purposes

TORONTO, Aug. 23, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that its subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH“), has completed its first export of purified cannabidiol (“CBD“) from Colombia to Canada for research and development purposes.

Aras Azadian, Chief Executive Officer of Avicanna commented “We are thrilled to complete our first export and proud to be doing so into Canada. This is another validation of Avicanna’s ability to execute on all of its verticals and demonstrates the success and advantage of Avicanna’s cultivation infrastructure, extraction and purification capacity, and regulatory expertise.”

Health Canada issued three authorizations to SMGH on June 28, 2019 to allow for the import of CBD isolates and cannabis resin into Canada from Colombia for scientific purposes. The CBD isolates cleared Colombian border procedures and were exported from Colombia on August 22, 2019.

About Avicanna

Avicanna is an Ontario 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.

SOURCE Avicanna Inc.

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Avicanna Secures Canadian Cannabinoid Research Licence at its Headquarters in Toronto’s Discovery District

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TORONTO, Aug. 19, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that it has received a research licence (the “Research Licence“) from Health Canada. The Research Licence will allow Avicanna’s research and development team to work with cannabinoid-based formulations and advanced pharmaceutical drug development at Avicanna’s research and development headquarters located at the MaRS Discovery District in Toronto.

Aras Azadian, Chief Executive Officer of Avicanna commented “Attaining this licence will allow Avicanna’s team of scientists to directly enhance and expedite research and development and intellectual property development projects while we concurrently execute via our ongoing collaborations, including with the University of Toronto, and at our subsidiaries’ laboratories in Colombia. In this way, Avicanna has further fortified its leadership position in the cannabinoid-based pharmaceutical industry and will further leverage working with top Canadian researchers, clinicians and world class institutions, many of which are located meters away from the newly licensed lab.”

About Avicanna

Avicanna is an Ontario 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

Certain information in this press release contains forward-looking statements. Such statements include but are not limited to the Company’s intended use of the Research Licence. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict, including the risk factors set out under the heading “Risk Factors” in the Company’s long form final prospectus dated July 8, 2019. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by securities laws applicable to the Company.

SOURCE Avicanna Inc.

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Avicanna Reports Second Quarter 2019 Financial Results

TORONTO, Aug. 14, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces results for the second quarter ended June 30, 2019.

Aras Azadian, Chief Executive Officer of Avicanna, commented “We are pleased to report our second quarter financials, which provide insight into our strong infrastructure and the maturity of our various business units as we near commercialization. Within the last quarter we have validated our cultivation projects with commercial crops, extraction and preparation of active pharmaceutical ingredients, completion of a pilot production run for our finished products and the start of our first clinical trial. Additionally, we are proud to have listed on the Toronto Stock Exchange, senior board, as a research and development issuer, which we aim to leverage for our future growth.”

Operational Highlights

Approval of Genetics   

  • During the second quarter ended June 30, 2019, Santa Marta Golden Hemp S.A.S., a subsidiary of the Company, obtained genetic registration from the Colombian Agricultural Institute (ICA) for three tetrahydrocannabinol (“THC“) dominant genetic strains, one cannabidol (“CBD“) dominant genetic strain, and is currently cultivating its registered CBD dominant genetic for extraction and commercial sale of CBD products while it seeks to obtain quotas for its THC dominant genetics.

  • The Company, through its subsidiaries, has submitted an application with the Colombian regulatory authorities to register an additional 25 genetics, of which six would be CBD dominant and 19 would be THC dominant.

Research and Development

  • The Company, through its subsidiaries, has commenced phase I clinical trials on three of its derma-cosmetic products in Colombia with the Centro de Atención e Investigatión Médica CAIMED S.A.S. (CAIMED), which are expected to be complete in the fourth quarter of 2019, prior to the Colombian commercial launch of the Company’s derma-cosmetic line.

Pipeline Progress

  • The Company has received interest for sample orders for its CBD isolates. The Company is awaiting final regulatory approvals to export its CBD isolates before it can pursue any firm orders.

  • The Company anticipates it will have up to 120 kilograms of CBD isolate available for distribution at the end of 2019.

Expansion in Cultivation and Extraction

  • Currently the Company’s subsidiaries have a total of 290,000 square feet of cultivation space, which is expected to yield approximately 15,000 kilograms of dried flower annually.

  • The Company’s subsidiaries are currently expanding their cultivation footprint to approximately 410,000 square feet, which is expected to yield approximately 22,800 kilograms of dried flower annually. The Company anticipates this expansion to be completed by the end of 2019.

  • The Company’s subsidiaries have current extraction facilities capable of processing approximately 300 kilograms of dried flower per day into plant-derived cannabinoid extracts and purified cannabinoids including distillates and isolates.

Manufacturing

  • The Company is expecting to manufacture approximately 82,000 units of its derma-cosmetic products by the end of the third quarter of 2019, which are expected to be slated for distribution in the Colombian market.

Financial Highlights

  • The Company added significant liquidity to its balance sheet from the second closing of its special warrant financing and from a transaction involving Sativa Nativa S.A.S., positioning it well for its planned commercial efforts. The Company had approximately $12.9 million of cash and cash equivalents on hand at June 30, 2019, compared with $69,295 at December 31, 2018.

  • The Company’s costs increased for the six months ending June 30, 2019 as a result of scaling up operations and the significant costs associated with the listing of its common shares on the Toronto Stock Exchange.

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Avicanna announces joint venture with Sigma Analytical Services Inc., to establish the first GMP/GLP level cannabis quality assurance laboratory in South America

Avicanna announces joint venture with Sigma Analytical Services Inc., to establish the first GMP/GLP level cannabis quality assurance laboratory in South America

/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, Aug. 8, 2019 /CNW/ – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it has entered into an agreement with Sigma Analytical Services Inc. (“Sigma Analytical“) to establish a joint venture for the testing of cannabis and cannabis-based products in Colombia.

The joint venture will leverage Sigma Analytical’s expertise, methodology, and intellectual property in cannabis and derived product testing to establish a laboratory to test cannabis genetics and products. Independent analytical services will be managed and operated by an operating company with complete adherence to techniques and procedures developed and implemented by Sigma Analytical. The laboratory is expected to be located within the SMGH facilities and testing services will be provided to Santa Marta Golden Hemp S.A.S. (“SMGH“) and Sativa Nativa S.A.S. (“Sativa Nativa“), two subsidiaries of Avicanna, and are expected to also be offered to a variety of large licensed producers to small scale partner farmers. The parties anticipate that the laboratory will be the first cannabinoids-only, analytical laboratory and independent testing service in South America to meet Health Canada, European Pharmacopeia, US Pharmacopeia, and compliant to EU GMP standards. With technical transfer currently underway, the completion and launch of the laboratory services is expected to occur early in the fourth quarter of 2019.

The laboratory will provide a comprehensive suite of cannabis specific testing, which will include pesticides, heavy metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid and terpene profiling.

Current and proposed legislation requires independent laboratory testing for cannabis extract for future medical sales and export. However, as full-suite testing in line with global standards is currently unavailable in Colombia, it requires many companies to go through the lengthy process to export samples for validated testing results.

Highlights of the Joint Venture:

  • Joint venture to be established through the creation of an Ontario based corporation, Sigma Analytical Magdalena Canada Inc. (“HoldCo“), to be initially owned approximately 61% by Avicanna and approximately 39% by a subsidiary of Sigma Analytical;
  • HoldCo to own a 100% equity stake in a Colombian based operating company (“OpCo“);
  • Sigma Analytical to license intellectual property (being testing procedures and technical know-how) to OpCo for the testing of cannabis and cannabis-based products;
  • SMGH and Sativa Nativa, collectively, to commit to purchase a minimum number of tests from OpCo on a quarterly basis;
  • Services to be provided will include testing for: pesticides, heavy metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid and terpene profiling;
  • Expected to be the first cannabinoids-only, analytical laboratory and independent testing service in South America to meet Health Canada, European Pharmacopeia, US Pharmacopeia, and compliant to EU GMP standards;
  • The laboratory will provide Avicanna with streamlined access to testing of its active pharmaceutical ingredients, which will provide it with expedited access to analysis and the analytical documentation required for the international export of its products;
  • With technical transfer well underway, expected completion and launch of the laboratory services are slated for early in the fourth quarter of 2019.

Dr. Kaveh Kahen, Chief Executive Officer of Sigma Analytical, commented, “Sigma Analytical is excited to partner with Avicanna in establishing the first GMP testing facility in South America for cannabis and derived products to serve the growing cannabis industry in this region. With cannabinoids and terpenes being increasingly used as active pharmaceutical ingredients (APIs) in various types of products, it is imperative to establish the most accurate and precise methodologies for efficacy and safety of products. Sigma Analytical looks forward to bringing our years of experience in Canada and the US, proven methodologies, and know-how in cannabis testing to South America.”

“This level of world class quality testing is a necessity for Avicanna’s pharmaceutical development and clinical development programs, but will also be established as a minimum requirement for all of our product categories as we aim to establish a global standard for cannabinoid-based solutions.” added Aras Azadian, Chief Executive Officer of Avicanna.

About Sigma Analytical

Sigma Analytical Services, headquartered in Toronto, Canada, is a unique full-service testing and research GMP-compliant laboratory offering comprehensive testing and analytical services, research and development, and consulting in cannabis and derived products along with consulting and high-level training for set-up and operation of cannabis quality assurance/quality control (QA/QC) and research and development labs. Sigma Analytical maintains a global presence with projects and laboratories spanning Northern and Central America, as well as several strategic partnerships with major analytical ‎instrument providers, testing labs, producers, service providers, ‎and universities across Canada, Central America, United States, Europe and Australia.

Sigma Analytical has emerged as a thought leader in advancing the understanding of cannabis chemistry and is ‎establishing a global scientific network of pioneers to facilitate research and knowledge sharing in this ‎new and promising field of science.

Stay Connected

For further information about Sigma Analytical, visit www.sigmaanalytical.com, call 1-647-496-9919, or email info@sigmaanalytical.com.

About Avicanna

Avicanna is an Ontario 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 press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Avicanna’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Avicanna’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein may include, but is not limited to, the timing and expected completion of the laboratory, the techniques and procedures to be utilized in the laboratory, the expected location of the laboratory, the offering of services to third parties, the classification of the laboratory as the first cannabinoids-only, analytical laboratory and independent testing service in South America to meet certain quality standards and the services to be offered in the laboratory.

By identifying such information and statements in this manner, Avicanna is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avicanna to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, Avicanna has made certain assumptions.

Among others, the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: decreases in the prevailing prices for cannabis and cannabis products in the markets in which the Company operates; adverse changes in applicable laws; adverse changes in the application or enforcement of current laws, including those related to taxation; increasing costs of compliance with extensive government regulation; changes in general economic, business and political conditions, including changes in the financial markets and in particular in the ability of the Company to raise debt and equity capital in the amounts and at the costs that it expects; risks related to licensing, including the ability to obtain the requisite licenses or renew existing licenses for the Company’s proposed operations; dependence upon third party service providers, skilled labor and other key inputs; risks inherent in the agricultural and retail business; intellectual property risks; risks related to litigation; dependence upon senior management; and the other risks disclosed in the Company’s long form final prospectus dated July 8, 2019. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although Avicanna believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Key assumptions used herein are that there will not be any unexpected costs or delays in the completion of the laboratory, the laboratory technicians will adhere to the techniques and procedures provided for analytical testing, the parties will not find a more suitable location for the laboratory, the parties will elect to provide, and will not be prohibited from offering, services to third party producers, no laboratories will be established, or have been established, that comply with the above noted quality standards prior to the completion of the laboratory to be established by OpCo and the equipment and expertise available to the laboratory will be sufficient for testing for pesticides, heavy metals, residual solvents, aflatoxins, microbial, genotyping, and cannabinoid and terpene profiling. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Avicanna does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to Avicanna or persons acting on its behalf is expressly qualified in its entirety by this notice.

SOURCE Avicanna Inc.

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