Avicanna Enters into an Intellectual Property Licensing and Distribution Agreement with Established Pharmaceutical Company in Argentina

Avicanna Enters into an Intellectual Property Licensing and Distribution Agreement with Established Pharmaceutical Company in Argentina

The partnership will focus on the licensing, supply, and expected commercialization of Avicanna’s cannabinoid-based drug candidate TruneroxTM, in Argentina in the second half 2022

TORONTO, November 30, 2021 (GLOBE NEWSWIRE) — 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 entered into a partnership with an established Argentine pharmaceutical company to register and commercialize Avicanna’s proprietary cannabinoid-based pharmaceutical preparations through the licensing of its intellectual property and supply of its active pharmaceutical ingredients (“API”).

Through the partnership Avicanna will provide a non-exclusive license of the Company’s intellectual property related to its proprietary 10% cannabidiol (“CBD”) pharmaceutical drug preparation. Additionally, the partner will source its pharmaceutical-grade CBD exclusively from Avicanna to manufacture the product for the registration and marketing authorization with the Argentine regulatory agency ANMAT.

The marketing authorization of the pharmaceutical preparation is expected to be approved during the second half of 2022 and is expected to be supported with claims related to treatment of epilepsy. The estimated patient population and market potential for epilepsy in Argentina is between 400,000 to 500,000 patients of which about 20,000 patients have refractory epilepsy. “We look forward to entering the Argentine market through a pharmaceutical pathway and to be doing so by delivering our proprietary formulations as solution to patients with unmet medical needs. We are rapidly expanding into the region with innovative and accessible cannabinoid-based pharmaceutical products and are doing so through partnership with reputable industry leaders,” stated Lucas Nosiglia, President of Avicanna LATAM.

Sources:

https://www.lace.org.ar/aprendiendo_sobre_la_epilepsia.html  https://www.infobae.com/salud/2020/08/12/en-argentina-se-realiza-la-unica-cirugia-de-estimulacion-cerebral-profunda-para-epilepsia-refractaria-de-toda-latinoamerica/ 

About Avicanna

Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development, and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna’s medical and wellness product portfolio also forms the foundation of the Company’s pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real world evidence studies.
  • CBD Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brands, these registered, clinically tested, derma-cosmetic products include a portfolio of functional CBD topical products.
  • Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.
  • Cannabis Raw Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™ brand, the Company’s raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, isolated cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical, and industrial-scale subsidiaries based in Colombia. The majority of the Aureus products are produced at Santa Marta Golden Hemp S.A.S. (“SMGH”), the Company’s majority-owned subsidiary, which is also Good Agricultural and Collection Practices (“GACP”) certified and has United States Department of Agriculture (“USDA”) National Organic Program certification for its hemp cultivar.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com,  contact Ivana Maric by email at info@avicanna.com or follow us on social media @avicannainc.

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA  .

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 Company’s ability to register and commercialize its cannabinoid-based pharmaceutical preparations, expectations regarding the timing of the anticipated marketing authorization of the pharmaceutical preparation, the Company’s ability to register and get the necessary regulatory approvals in certain jurisdictions for its proprietary 10% CBD pharmaceutical drug that will be targeted for the treatment of epilepsy, whether claims related to treatment of epilepsy will be supported, and the Company’s plans for expansion into Argentina. 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, the availability of licenses, approvals and permits, and the utility and application of certain drugs and products. 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 September 3, 2021 and final short form prospectus dated November 27, 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 Expands its Medical Cannabis Brand RHO Phyto into the Caribbean Region with Initial Export to Barbados

  • Starting with 3 SKUs, the advanced medical cannabis formulary will be available for the medical community and patients through prescription
  • Distribution partnership with Bryden Stokes Limited includes initial focus on Barbados with plans to expand further into the Caribbean region
  • Third active country for RHO Phyto formulations and 13th international market opening for Avicanna’s products
TORONTO, November 25, 2021 (GLOBE NEWSWIRE) — 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 successfully expanded its Rho Phyto branded medical cannabis products into the Caribbean region with successful initial export to its distribution partner, Bryden Stokes Limited (“Bryden Stokes”) in Barbados.

Avicanna has entered into a distribution partnership with Bryden Stokes, an established health and pharmaceutical product distributor in the Caribbean region to distribute its medical formulary RHO Phyto line of products beginning with three (3) product SKUs. This marks the third country in which RHO Phyto’s medical formulary will be available and the 13th international market that Avicanna’s portfolio of products have successfully been exported to.
The Company plans to deliver the RHO Phyto products to the medical community and patients in the Caribbean through Bryden Stokes’ extensive network and sales infrastructure in the region starting with Barbados. In addition to the advanced and evidence-based products, Avicanna will extend its comprehensive educational platform including patient support, marketing, and training.

The initial delivery which included oral and sublingual products has successfully been exported from Canada through Avicanna’s strategic partnership with Medipharm Labs (TSX: LABS), a leading pharmaceutical cannabis manufacturer. In Barbados, specifically, the products will be commercialized under the Medicinal Cannabis Industry Act 2019-44 which outlines regulation of the handling of medicinal cannabis on the island. Avicanna plans to expand its product offerings to the region to include additional SKUs from its Canadian portfolio as well as pharmaceutical preparations from its formulary in Colombia.
“We’re excited to expand our Rho Phyto formulary of products into Barbados with our partner Bryden Stokes, who shares our vision and focus on supplying the medical community and patients with scientifically advanced and evidence-based cannabis products. We look forward to establishing RHO Phyto as the gold standard throughout the region and aim to build long-term opportunities for the brand.” said Aras Azadian, CEO.
Bryden Stokes is delighted to commence a partnership with Avicanna to provide pharmaceutical-grade medicinal cannabis to patients in Barbados and the Eastern Caribbean; specifically, the Rho Phyto brand of products. Avicanna’s evidence-based approach to their formulations, and their collaborations with leading academic and clinical institutions make them an ideal partner.

About Bryden Stokes
Bryden Stokes has three distinct business divisions: Food and Consumer, Brewery, Wine, Spirits and Tobacco, and Health and Wellness. Their wide network of international suppliers and thriving portfolio make them one of the leading distribution companies in Barbados. To support these divisions, they have over 330 employees and a portfolio of 450 quality brands.

About RHO Phyto
The advanced and standardized formulations are offered in various doses of cannabidiol (“CBD”), tetrahydrocannabinol (“THC”) and THC-Free options in a range of drug delivery formats including oral, sublingual, transdermal and local and designed to provide consumers with a range of inhalation-free cannabinoid-based solutions. The proprietary formulations are developed and optimized by Avicanna to provide enhanced absorption while providing a consistent experience with a pleasant taste and smell. The RHO Phyto products are delivered with accurate dosing which also allows for easy titration and dosing by consumers.

Avicanna’s RHO Phyto vision is to provide education and safe delivery of its products through evidence-based training and education to consumers, retailers and the medical community. Avicanna aims to establish RHO Phyto as a recommended brand within the cannabis industry and has initiated several pre-clinical and real-world evidence clinical trials on the products with leading Canadian medical institutions.

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 Avicanna
Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development, and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna’s medical and wellness product portfolio also forms the foundation of the Company’s pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real world evidence studies.
  • CBD Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brands, these registered, clinically tested, dermacosmetic products include a portfolio of functional CBD topical products.
  • Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates provide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox) is in the drug registration stage in South America.
  • Cannabis Raw Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™ brand, the Company’s raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, isolated cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical, and industrial-scale subsidiaries based in Colombia. The majority of the Aureus products are produced at Santa Marta Golden Hemp S.A.S. (“SMGH”), the Company’s majority-owned subsidiary, which is also Good Agricultural and Collection Practices (“GACP”) certified and has United States Department of Agriculture (“USDA”) National Organic Program certification for its hemp cultivar.

 

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com,  contact Ivana Maric by email at info@avicanna.com or follow us on social media @avicannainc.

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

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 SMGH’s ability to maintain its licenses to cultivate cannabis, SMGH’s ability to maintain its certifications, SMGH’s ability to supply any other company based on its current or newly acquired certifications, or SMGH’s ability to acquire new certifications or business partnerships. 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 September 3, 2021 and final short form prospectus dated November 27, 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.

Viola Brands Launches Nationwide in Canada through the Medical Cannabis by ShoppersTM online platform

Viola Brands Launches Nationwide in Canada through the Medical Cannabis by ShoppersTM online platform

TORONTO (November 9th, 2021) –  Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN)

(OTCQX: AVCNF) (FSE: 0NN), a Canadian biopharmaceutical company focused on the development of plant-derived, cannabinoid-based products, announced today the distribution of Viola cannabis products across Canada on the Medical Cannabis by Shoppers online platform, a subsidiary of Shoppers Drug Mart Inc.TM, Canada’s leading health, beauty, and convenience retailer. The well-established equity focused brand will also be made available across adult use channels including Ontario and New Brunswick imminently.

Founded in 2011 by NBA veteran Al Harrington, Viola is one of the leading producers and licensed wholesalers of premium quality cannabis products in the United States with its footprint across 4 States. Viola’s mission is to increase minority representation and provide greater employment opportunities to Black and other under-represented communities in the cannabis industry. Viola cannabis products available at the Medical Cannabis by Shoppers platform include THC and CBD offerings starting with live terpene disposable vaporizers and extending into other categories including 510 cartridges and concentrates.

We’re excited to launch in Canada with our partner Avicanna, who shares our vision to increase representation and promote equity within the cannabis industry,” said Al Harrington, Co-Founder and CEO, Viola Brands. “And look forward to having Viola’s premium products available at Medical Cannabis by Shoppers.”

“Today, Canada’s incredible diversity is not well represented by existing brands and through this multi-layered partnership with Viola we seek to fill that gap, bring some much-needed minority representation’ and extend Al’s vision to Canadian consumers” said Aras Azadian, CEO, Avicanna Inc. “Additionally, having Viola’s premium products launched in Canada through our distribution agreement with Medical Cannabis by Shoppers Drug Mart Inc.TM will be a huge win for Canadians as the products will be available nationwide immediately.”

Canadians will now have access to Viola’s award-winning cannabis products for the first time through a national chain. Through the company’s multi-level partnership with Viola, Avicanna is responsible for managing the overall commercialization of all Viola-branded products in Canada through its manufacturing, distribution, and sales infrastructure. Additional Viola cannabis products will be available in several provinces across adult-use channels offering multiple options for consumption via a portfolio expansion expected by the end of 2021 with initial listings approved in New Brunswick and Ontario.

About Viola

Founded in 2011 by NBA veteran Al Harrington, Viola is one of the nation’s leading producers and licensed wholesalers of premium quality cannabis products. The brand is named after and inspired by Al’s grandmother who suffers from glaucoma and diabetes, finding solace in cannabis remedies. Viola has integrated the latest cutting-edge technology with its own proprietary procedures designed for every stage of the cultivation, extraction and production process. The company is known for its wide variety of product offerings, from high-quality flower to premier butane extracts and operates in California, Colorado, Michigan, Oregon, and Oklahoma.

Through education, equitable offerings, expungement, and incubation programs, Viola’s mission is to increase minority representation, facilitate community building and provide greater employment opportunities to Black and other minority communities in cannabis. Viola intends to expand the reach of Viola into Canada with educational initiatives to increase the awareness of safe cannabis use.

 

About Avicanna Inc.

Avicanna is a commercial stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development, and evidence-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its raw material business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia including SMGH which is GACP and USDA organic certified and where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 11 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

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 Inc. to Host Third Quarter 2021 Investor Conference Call on November 12 and Announces Warrant Repricing

Avicanna Inc. to Host Third Quarter 2021 Investor Conference Call on November 12 and Announces Warrant Repricing

/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, November 8, 2021 (GLOBE NEWSWIRE) – 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 Friday, November 12, 2021 at 8:30AM Eastern Time to discuss the results of its fiscal third quarter ended September 30, 2021 (“Q3 2021 Results”). Aras Azadian, Chief Executive Officer, Dave Sohi, Chief Financial Officer, and Lucas Nosiglia, President of LATAM will host the call and a question and answer period. The Company will report its Q3 2021 Results before the open of markets on Friday, November 12, 2021. The Company further announces the finalization of the previously announced Warrant Amendment (as defined below).

Conference Call Details

DATE:                                                  November 12, 2021
TIME:                                                    8:30 AM Eastern Time

LINK:                                                    https://tinyurl.com/AVCNQ32021

Warrant Repricing

On October 19, 2021, the Company announced the proposed repricing of the exercise price, subject to the approval of the Toronto Stock Exchange, of 1,589,098 ‎common share purchase warrants expiring September 20, 2024 (the “Warrants”) from $1.13 to $1.10 per share (the “Warrant Amendment”), which Warrants were ‎issued to, and are held by, the lender that advanced the secured term loan in the principal amount of $2,118,000 to the Company in August 2021. The Warrant Amendment was finalized and became effective as at the date hereof.

About Avicanna

Avicanna is a Canadian commercial-stage biopharmaceutical company established in cannabinoid research, development, and evidence-based products for the global consumer, as well as medical and pharmaceutical market segments. In leading global cannabinoid advancements, Avicanna conducts most of its research in Canada at its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, located in the MaRS Discovery District. The company actively collaborates with leading Canadian academic and medical institutions. Avicanna has established an industry-leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand, or Magisterial Preparations, these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training. Avicanna’s medical and wellness product portfolio also forms the foundation of the Company’s pharmaceutical pipeline with the contribution of the formulations that form the basis of the products as well as the data generated from sales and participation of the products in real world evidence studies.
  • CBD Derma-Cosmetic Products: Marketed under the Pura H&W™ or Pura Earth™ brands, these registered, clinically tested, dermacosmetic products include a portfolio of functional CBD topical products.
  • Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates which are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidatesprovide solutions for unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox) is in drug registration stage in South America.
  • Cannabis Raw Materials, Seeds, and Bulk Formulations: Marketed under the Aureus™ brand, the Company’s raw material business has successfully completed sales to 11 countries. Aureus offers cannabis dried flower, standardized seeds, full spectrum extracts, and cannabinoid distillates, and isolated cannabinoids (CBD, THC, cannabigerol (“CBG”) and other rare cannabinoids), and bulk formulations derived from hemp and cannabis cultivars through its sustainable, economical, and industrial-scale subsidiaries based in Colombia. Majority of the Aureus products are produced at SMGH, the company’s majority- owned subsidiary which is also Good Agricultural and Collection Practices (“GACP”) and USDA organic certified.

SOURCE Avicanna Inc.

Stay Connected 

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

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

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 September 3, 2021 (the “AIF”) and final short form prospectus dated November 27, 2020, 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´s subsidiary obtains Good Agricultural and Collection Practices (“GACP”) Certification in Colombia

Avicanna´s subsidiary obtains Good Agricultural and Collection Practices (“GACP”) Certification in Colombia

  • The certification will allow the Company’s Aureus-branded raw material business with sales in 11 countries to include low cost and sustainable cannabis biomass for sale and export to the global marketplace 
  • The GACP certification for herbal starting materials of the European Medicines Agency is a pre-requisite for GMP extraction and a requirement for export of cannabis biomass into Europe. 

TORONTO, November 4, 2021 (GLOBE NEWSWIRE) — 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 majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”) has met global conformity standards of Good Agricultural and Collection Practices (“GACP”), an international guide set forth by the European Medicines Agency for starting materials of herbal origin for its 360,000 square foot cultivation project in Santa Marta, Colombia. The certification will allow for the expansion of the Company’s raw materials supply business to include organic and now GACP certified dried flower and biomass at a global level.

The Aureus Santa Marta brand, which includes a range of cannabinoids and standardized genetics offerings, has been successfully exported into 11 countries and, with this recent milestone, will include cannabis flower and biomass offerings to the Company’s partners and global marketplace. The GACP certification also acts as a pre-requisite for European GMP extraction certification, which the Company intends to also attain in 2022.

The strategic timing of the certification is further supported by the recent progressive legislation in Colombia towards the cannabis industry where, pursuant to Decree 811 of 2021, the export of cannabis flower and biomass is expected be permitted.

The Company’s cultivation infrastructure in Santa Marta, Colombia has potential output of 30,000 kg of biomass per year where the company has been commercially cultivating CBD, CBG and THC dominant cultivars for the past few years. This certification completes the company’s objective of establishing a low cost, sustainable and standardized supply chain business with global standards including GACP and USDA National Organic Program organic certifications.

Lucas Nosiglia, President of Avicanna LATAM commented: “This achievement adds to our 3 of years of optimization, the ideal climate conditions and robust genetics of our cultivation practices which combined further fortify the clear competitive advantages of our global raw material business unit. Coupled with the new regulatory framework in Colombia which would authorize the export of flower; we will now deliver GACP and organic certified flower from our greenhouse and outdoor modalities to the global market.”

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 Aureus™

Avicanna’s raw material business units are based in Santa Marta, Colombia and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.

Additionally, under the Aureus™ brand, organic and GACP-certified flower and biomass, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus-branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federally regulated legislation in Colombia where the company is well positioned to be a global supplier of the less competitive psychoactive extracts including CBD and THC crude oil to meet the growing global demand.

About Avicanna

Avicanna is a commercial stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development, and evidence-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.

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 SMGH’s ability to maintain its licenses to cultivate cannabis, SMGH’s ability to maintain its certifications, SMGH’s ability to supply any other company based on its current or newly acquired certifications, or SMGH’s ability to acquire new certifications or business partnerships. 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 September 3, 2021 and final short form prospectus dated November 27, 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.