Avicanna Announces Initial Listings and Sales for Evidence-Based RHO Phyto™ Products in Canada’s Adult Use Channels Including Ontario, Manitoba, Saskatchewan, and New Brunswick

Avicanna Announces Initial Listings and Sales for Evidence-Based RHO Phyto™ Products in Canada’s Adult Use Channels Including Ontario, Manitoba, Saskatchewan, and New Brunswick

  • Expanding from the successful nation-wide launch in medical-only channels through Medical Cannabis by Shoppers Drug Mart™ the company set out to rapidly commercialize its RHO Phyto products through retail channels and has succeeded in doing so within a three-month period.
  • In collaboration with Velvet’s sale infrastructure, the RHO Phyto products which include its advanced formulary of sublingual sprays, oil drops and topicals, are launching into retail sales channels valued at $2.6 billion in 20201 in Canada.
  • The initial listings across four provinces and start of retail channel sales validate market demand for the growing segment in Avicanna’s advanced medical and wellness products within the retail channels.

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

Toronto, Ontario – April 20, 2021– 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 the listing of certain RHO Phyto products with the Ontario, Manitoba, Saskatchewan and New Brunswick provincial retailers (the “Initial Listing”).

Establishing a Leadership Position Within the Medical Community and Patients

Since its launch in Medical Cannabis by Shoppers Drug Mart™ in Q3 2020, the RHO Phyto product line has experienced incredible success with overwhelming positive support from the medical community including 500+ prescribers and 30 medical cannabis clinics. RHO Phyto sales have increased over 40% month over month in all product categories and have successfully segmented and targeted medical and wellness consumers. Nearly 90% of the consumers of the RHO Phyto oral products including sublingual sprays and oral drops are over the age of 31 and 52% are female.

Avicanna will remain exclusive to Medical Cannabis by Shoppers Drug Mart for medical-only channels and has increased its current commercial offering from 2 to 7 SKU’s in response to high demand from patients.

Successful Expansion into Retail Channels Provides a Low Barrier to Consumers Accessing the Industry’s Leading Formulary of Medical and Wellness Products.

It has become evident that many consumers who seek cannabis for medical and wellness purposes are not necessarily going through medical channels, with nearly 44% purchasing from adult use channels2. According to the 2020 Canadian Cannabis Survey, 76% of medical cannabis users do not have a medical document from a healthcare practitioner3. The systemic barriers to connecting with health care professionals, ease of access to storefronts and e-commerce channels, and expansion of the wellness category product offerings have all contributed to the increase in consumer demand for cannabinoid based medical and wellness products across adult use channels.

Within a short 3-month time frame, the Company has successfully established its production infrastructure, expanded the RHO Phyto product portfolio, and obtained the Initial Listings from four Canadian provinces. RHO Phyto products have already been delivered to the provincial retailers, including Ontario which represents the largest Canadian market opportunity.

“The initial demand and provincial listings in such a saturated market is a fantastic validation of the differentiation and market acceptance of the RHO Phyto product line beyond the medical cannabis channels. The rapid execution by our team will allow us to capture market share in the evolving medical and wellness categories within the adult use channels and is expected to be a significant revenue driver for the company in 2021.” commented Aras Azadian, CEO of Avicanna.

The sales and distribution of RHO Phyto is completed in collaboration with Velvet Management Inc. which is a national sales and marketing agency with 100% focus on adult use cannabis. Velvet was created by the largest importer of alcohol in Canada, Groupe Dandurand, responsible for $1.2 billion in retail sales. Velvet Management Inc., with 40+ employees, has become one of largest sales and marketing agencies in Canada with offices in Montreal, Toronto, Calgary, and Vancouver.

RHO Phyto Product Attributes and Retail Sales Strategy

The advanced and standardized products are offered in various doses of CBD, THC and THC-Free formulations to provide consumers with a range of inhalation-free cannabinoid-based solutions. The advanced formulations are developed and optimized by Avicanna to provide enhanced absorption versus basic medium-chain triglyceride (MCT) oil formulations 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 strategy to leverage retail sales channels is consistent with the Company’s vision 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.

1 Statistics Canada. Table 20-10-0008-01 Retail trade sales by province and territory (x 1,000)

2 Health Canada. (2021). Canadian Cannabis Survey 2020 Survey.

3 Idem.

 

About Avicanna

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

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

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

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

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 incredible success of the RHO Phyto product line, sales of the RHO Phyto products increasing month over month in all product categories, the Company’s ability to successfully segment and target medical and wellness consumers, the high demand for the RHO Phyto products, the increase in consumer demand for cannabinoid based medical and wellness products across adult use channels, the Company’s ability to maintain positive support of the RHO Phyto products from the medical community including 500+ prescribers and 30 medical cannabis clinics, the Company’s ability to continue to deliver RHO Phyto products to provincial retailers, the differentiation and market acceptance of the RHO Phyto product line, the Company’s ability to capture market share in the evolving medical and wellness categories within the adult use channels, the likelihood that RHO Phyto will be a significant revenue driver for the company in 2021, the ability of the Company to establish RHO Phyto as a recommended brand within the cannabis industry. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment, and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, 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 Announces Receipt of Management Cease Trade Order and Provides Bi-Weekly Status Update

Avicanna Announces Receipt of Management Cease Trade Order and Provides Bi-Weekly Status Update

/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, April 12, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) announces that, further to its March 29, 2021 news release, its application for a management cease trade order (the “MCTO”) under National Policy 12-203 – Management Cease ‎Trade Orders (“NP 12-203”) has been approved by the Ontario Securities Commission (the “OSC”). The MCTO does ‎not affect the ability of investors who are not insiders to trade in the securities of the Company.‎

The Company announced on March 29, 2021 (the “Default Announcement”) that it was filing an application seeking a MCTO from the OSC because ‎it was likely to miss its filing deadline of March 31, 2021 to file its audited annual financial statements for the year ‎ended December 31, 2020, and accompanying management’s discussion and analysis, annual information form and related certifications ‎‎(collectively, the “Documents”), as required under applicable securities laws. The inability to file the Documents is ‎due, in part, to the Company’s auditors requiring additional time to complete their audit and assess the accounting ‎and disclosure contained in the Documents related to certain revenue transactions. The Company continues to work ‎closely with its auditor and expects to file the Documents by April 30, 2021.‎

The MCTO restricts trading in securities of the Company by management and certain other insiders of the Company ‎until such time as the Documents have been filed by the Company and the MCTO is no longer in effect. The MCTO ‎does not affect the ability of shareholders who are not insiders of the Company to trade their securities. ‎

Until the ‎Company has filed the Documents, members of the Company’s management and other insiders are subject ‎to an insider trading black-out as per its internal Insider Trading and Reporting Policy. The Company confirms that, ‎other than as disclosed in prior press releases and material change reports, there have been no material business ‎developments since the filing on November 11, 2020 of the Company’s latest ‎interim financial reports for the nine ‎month period ended September 30, 2020‎. ‎

The Company is not currently subject to any insolvency proceedings. If the Company becomes subject to any insolvency proceedings and provides any information to ‎any of its creditors during the period in which it is in default of filing the Documents, the Company confirms that it will ‎also file material change reports on SEDAR containing such information as is required.‎

The Company confirms that since the date of the Default Announcement: (i) there has been no material change to the information set out in the Default Announcement that has not been generally disclosed; (ii) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Documents is continuing, each of which will be issued in the form of a press ‎release; (iii) there has not been any other specified default by the Company under NP 12-203; (iv) the Company is not subject to any insolvency proceedings; ‎and (v) there is no material information concerning the affairs of the Company that has not been generally ‎disclosed.

About Avicanna Inc.

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

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

Pura EarthTM or Pura H&WTM: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
RHO PhytoTM: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by ShoppersTM, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

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 timing for the filing of the Documents. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 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 Announces Late Filing of Financial Statements and Application for Management Cease Trade Order

Avicanna Announces Initial Listings and Sales for Evidence-Based RHO Phyto™ Products in Canada’s Adult Use Channels Including Ontario, Manitoba, Saskatchewan, and New Brunswick

  • /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, March 29, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (the “Company” or “Avicanna”) (TSX: AVCN) announces that it will miss the deadline (the “Filing Deadline”) of March 31, 2021 to file the following (collectively, the “Documents”):

    • the Company’s audited annual financial statements for the years ended December 31, 2020 and 2019, ‎as required by section 4.2 of National Instrument 51-102 – Continuous Disclosure ‎‎Obligations (“NI 51-102”);‎ and
    • the Company’s Management Discussion & Analysis for the corresponding years ended December 31, 2020 and 2019, ‎as required by section 5.1(2) of NI 51-102; and
    • the CEO and CFO certificates relating to the interim financial report, as required by National Instrument 52-109 – Certification of Disclosure in Issuers’ Annual and Interim Filings.

    The default is due, in part, to the Company’s auditors requiring additional time to complete their audit and assess the accounting and disclosure contained in the Documents related to certain revenue transactions.

    Accordingly, the Company has informed staff of the Ontario Securities Commission about its anticipated delay in filing the Documents and has applied to the Ontario Securities Commission pursuant to Part 4 of National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”) for a Management Cease Trade Order (“MCTO”) pending the filing of the Documents, which MCTO will prohibit the Company’s management from trading in the securities of the Company until such time as the Documents are filed. No decision has yet been made by the Ontario Securities Commission on this application. The Ontario Securities Commission may grant the application and issue the Management Cease Trade Order or it may impose an issuer cease trade order if the Documents are not filed on or before March 31, 2021.

    The Company will comply with the alternative information guidelines set out in Section 9 of NP 12-203 and will file bi-weekly default status reports in the form of press releases. The Company anticipates and expects to file the Documents by April 30, 2021.

    If a MCTO is issued, during the period of default and until filing of the Documents, the Company intends to satisfy the provisions of the “alternative information guidelines” as set out in NP 12-203, including the requirement to file bi-weekly status reports in the form of news releases containing prescribed updating information. There can be no assurance that a MCTO will be issued.

    Until the ‎Company has filed the Documents, members of the Company’s management and other insiders are subject to an insider trading black-out as per its internal Insider Trading and Reporting Policy. The Company confirms that, other than as disclosed in prior press releases and material change reports, there have been no material business developments since the filing on November 11, 2020 of the Company’s latest ‎interim financial reports for the nine month period ended September 30, 2020‎.

    The Company is not currently subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Documents, the Company confirms that it will also file material change reports on SEDAR containing such information as is required.

    About Avicanna Inc.

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

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

    • Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
    • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

    SOURCE Avicanna Inc.

    Stay Connected

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

    The Company posts updates through videos from the official Company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

    Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

    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 issuance of a Management Cease Trade Order in respect of Avicanna. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 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´s Majority Owned Colombian Subsidiary Attains 2021 THC Production Quota and Completes First Commercial Export of Aureus™ Branded THC Active Pharmaceutical Ingredients to Chile

Avicanna´s Majority Owned Colombian Subsidiary Attains 2021 THC Production Quota and Completes First Commercial Export of Aureus™ Branded THC Active Pharmaceutical Ingredients to Chile

  • Avicanna has been granted its 2021 quota from the Colombian government to cultivate and process up to 10,267 kg of dry flower for exports in the form of crude and standardized extracts and final phyto-therapeutic pharmaceutical products and to produce seeds from registered psychoactive varieties for commercial purposes.
  • This is the first known import of THC Cannabis Extracts into Chile and will be utilized for pharmaceutical drug registration and commercialization.
  • This marks the first export of psychoactive Cannabis Extract as a part of the Aureus™ branded product offerings which have been successfully exported into 7 other countries.

TORONTO, March 29, 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 through its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”), the Company has been granted a quota by the Colombian government to cultivate and process up to 10,267 kg of dry flower to manufacture psychoactive (THC) crude and standardized extracts and final phyto-therapeutic pharmaceutical products for export purposes and to produce seeds from registered psychoactive varieties for commercial purposes. The Company also announces that through SMGH it has completed its first commercial export to Chile. SMGH has successfully completed the export of 20.75 kilograms of high THC and high CBD full spectrum psychoactive cannabis resin (the “Cannabis Extracts”) to a leading Chilean homeopathic and naturopathic pharmaceutical company.

Substantial 2021 quota for THC

SMGH has been granted a cultivation manufacturing quota by the Colombian government permitting the company to process up to 10,267 kg of dry flower from its registered and optimized genetics to produce psychoactive derivatives. This substantial sum will be collectively utilized for the exports of crude and standardized extracts and finished phyto-therapeutic pharmaceutical forms. The quotas also allow SMGH to cultivate up to 1,720 cannabis plants to produce seeds from four of SMGH’s registered genetics. These seeds can be utilized to supply other licensed companies either inside Colombia or in foreign markets that permit the import, commercialization, and cultivation of cannabis. This positions the Company to be a supplier of THC-containing active pharmaceutical ingredients and finished products for medical purposes to several markets around the world that are welcoming such imports.

Commercial export into Chile

The Cannabis Extracts will be utilized for the manufacturing of cannabinoid-based pharmaceutical products which are currently in the final stages of clinical development and registration before being commercialized in South America.

The Cannabis Extracts branded as Aureus™ are cultivated, extracted, and manufactured by SMGH. SMGH also supplies pharmaceutical and cosmetics companies with cannabinoids including CBD, THC and rare cannabinoids such as CBG in addition to supplying global cultivation companies with standardized and feminized seeds.

Lucas Nosiglia, President of Avicanna LATAM commented: “We continue to set the standards, pioneer and establish our footprint in South America across our different business units. This milestone acts as Avicanna’s first commercial export of standardized psychoactive extracts into South America and evidence that the industry is evolving towards the need for quality standards and full traceability of input materials for cannabinoid-based pharmaceutical products. We are pleased to see legislation and opportunities related to cannabinoids-based cosmetics, medical and pharmaceutical products evolve at a rapid rate and believe we are in a great position to fortify our leadership position in the region.”

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

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

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

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the ability of SMGH to produce seeds from registered psychoactive varieties for commercial purposes, the ability of SMGH to cultivate and process up to 10,267kg of psychoactive flower, the ability of SMGH to produce psychoactive derivatives, the ability of SMGH to cultivate up to 1,720 cannabis plants to produce seeds. The ability of the Company to supply other licensed companies in Colombia or globally with cannabis seeds, the Company being positioned to be a supplier of THC-containing active pharmaceutical ingredients and finished products for medical purposes around the world, the ability of the Company to export crude extracts and finished phyto-therapeutic pharmaceutical products, the ability of SMGH to complete additional exports of Cannabis Extracts to Chile, the ability of SMGH to continue to cultivate, extract, and manufacture the Cannabis Extracts, the ability of Avicanna to use the Cannabis Extracts for the production and manufacture of finished products, and the ability of SMGH to supply pharmaceutical and cosmetic companies with cannabinoids (including rare cannabinoids) in addition to supplying global cultivation companies with standardized and feminized seeds. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020, 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 to Participate in Benzinga Biotech Small Cap Conference and the Virtual Life Sciences Investor Forum both taking place on Thursday March 25th

Avicanna to Participate in Benzinga Biotech Small Cap Conference and the Virtual Life Sciences Investor Forum both taking place on Thursday March 25th

TORONTO, Mar. 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 Avicanna’s Chief Executive Officer, Aras Azadian has been invited to present at the Benzinga Biotech Small Cap Conference (the “Benzinga Conference”) and the Virtual Life Sciences Investor Forum (the “Life Sciences Investor Forum”).

Mr. Azadian will be presenting at the Benzinga Conference on March 25, 2021 at 10:40AM EST and will be participating in the panel discussion entitled “The Natural Solutions: Cannabis & Cannabinoids”. The Benzinga Conference is focussed on highlighting companies in the biotech space who are helping to bring the world back to normalcy in the wake of the COVID-19 pandemic. To register and learn more about the Benzinga Conference visit https://www.benzinga.com/events/small-cap/biotech/.

Mr. Azadian will be presenting at the Life Sciences Investor Forum on March 25, 2021 at 2:00PM EST. The Life Sciences Investor Forum is the largest online investor conference series dedicated to the life sciences industry and features presentations from top executives and experts with live Q&A. To register and learn more about the Life Sciences Investor Forum visit https://www.lifesciencesinvestorforum.com/events/event-details/agenda.

About Avicanna

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

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

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

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

Avicanna Enters Strategic Partnership with Al Harrington’s, Viola, for commercialization of Viola branded products in Canada

Avicanna Enters Strategic Partnership with Al Harrington’s, Viola, for commercialization of Viola branded products in Canada

• Purpose-driven cannabis brand rooted in social equity and justice to enter Canada
• Avicanna to lead commercialization through medical and consumer retail sales channels
• Viola intends to promote various social projects to advance education related to cannabis as well as Viola’s pioneering initiatives to promote diversity, equity, and inclusion in the cannabis industry in Canada

TORONTO, Mar. 23, 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 the Company has entered into an intellectual property licensing and royalty agreement with VB Brands California LLC (“Viola”) (the “Viola Agreement”) to use the Viola brand in connection with specific formulations developed by Avicanna that are intended to be commercialized in Canada through medical and consumer retail sales channels.

Founded by NBA veteran Al Harrington, Viola is leading the charge on minority participation and social equity in the US cannabis industry through its social equity and education initiative “Viola Cares”. Through this partnership, Avicanna will manage the commercialization of Viola branded products in Canada (the “Viola Products”) through the Company’s manufacturing, distribution, and sales infrastructure, to provide ultra premium products into the Canadian cannabis market. The Viola Products will include specific formulations developed by Avicanna. Pursuant to the Viola Agreement, Avicanna will pay Viola a royalty for the use of the brand in Canada.

“We’re so excited to announce the expansion of Viola’s mission and reach into Canada with the help of the Avicanna team,” says Al Harrington, CEO of Viola. “Their commitment to research and development of cannabis in the medical and pharmaceutical industries makes them the perfect biotech partner to bring Viola’s brand to our Northern neighbors, and we’re looking forward to the bright future ahead.”

In commenting on the Viola Agreement, Aras Azadian, CEO of Avicanna said, “through this partnership, we aim to expand and build on Al’s vision for the cannabis industry and provide premium cannabis products in a socially and ethically responsible way. We are proud to partner with a like-minded organization that is focused on inclusion and social equity while providing a culturally-diverse society of Canadians with a brand that they can relate to.”

To the knowledge of the Company, it is in compliance with all applicable laws in the jurisdictions in which it operates.

About VB Brands California LLC

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, Oklahoma, Oregon, and Washington.

From representation to reform, Viola’s mission is to create opportunities for communities of color in the cannabis industry. Through philanthropic initiatives, connecting with lawmakers to help draft policy, and partnering with key members of the community to spread the word through ambassadorship, Viola works from the ground up to ensure Black and brown citizens are afforded the opportunity to be part of a flourishing industry that historically has left them disenfranchised.

About Viola Cares

Through education, equitable offerings, expungement, and incubation programs, the mission of Viola Cares 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 Cares into Canada with educational initiatives to increase the awareness of safe cannabis use.

About Avicanna Inc.

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

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

  • Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

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 commercialize Viola Products in Canada through its medical and consumer retail sales channels, the ability of the Company to commercialize the Viola Products through the Company’s manufacturing, distribution, and sales infrastructure, and the Company’s ability to provide premium cannabis products in a socially and ethically responsible way. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 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 Closes Non-Brokered Private Placement Raising $5.6 Million.

Avicanna Closes Non-Brokered Private Placement Raising $5.6 Million.

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

Toronto, Ontario – Mar 4, 2021 – Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of organic and sustainable plant-derived cannabinoid-based products, is pleased to announce that it has closed a non-brokered private placement (the “Offering”). Under the Offering, the Company has issued an aggregate of 4,480,000 units (the “Units”) at a price of CAD$1.25 per Unit for aggregate gross proceeds of approximately CAD$5.6 million.

Aras Azadian, CEO of Avicanna commented “We are pleased to have strengthened our balance sheet and to have done so in a private setting with existing shareholders and new strategic and long-term investors. We are at an excellent position now to execute our business plan and expand commercial and marketing efforts in our priority markets in North America and South America.”

Each Unit is comprised of one (1) common share in the capital of the Company (each, a “Common Share”) and one (1) common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable into one common share in the capital of the Company (each, a “Warrant Share”) at a price of CAD$1.75 per Warrant Share until March 4, 2024.

The Company intends to use the proceeds from the Offering for general working capital purposes.

All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring four months and one day from the date hereof. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

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

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

• Pura H&W: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,

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

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

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

SOURCE Avicanna Inc.

Stay Connected

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

Cautionary Note Regarding Forward-Looking Information and Statements

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

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 and 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 Enters Multi-level Strategic Partnership with Al Harrington’s, Harrington Wellness Inc., to Commercialize re+PLAY™ Branded Products in Canada and the United States

Avicanna Enters Multi-level Strategic Partnership with Al Harrington’s, Harrington Wellness Inc., to Commercialize re+PLAY™ Branded Products in Canada and the United States

  • Development and licensing of a bespoke and evidence-based athletic line of CBD topical products for the re+PLAY brand in the U.S.
  • Avicanna to lead commercialization in Canada through consumer retail and medical sales channels.

TORONTO, Feb. 9, 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 the Company has entered into an intellectual property licensing and royalty agreement with Harrington Wellness Inc. (“Harrington Wellness”) for the commercialization of a CBD topical product line targeting athletes and active consumers in Canada and the U.S. (the “re+PLAY Agreement”).

Avicanna and Harrington Wellness have worked together extensively on researching, developing and optimizing a bespoke line of CBD-based topicals designed specifically for the athletic and sports community (the “re+PLAY Products”). These CBD-based topicals utilize Avicanna’s proprietary deep tissue technology for cannabinoid delivery and have been curated with the support of Harrington Wellness’ deep understanding of the needs of professional athletes. The products are planned to be launched in Q2 2021 in the United States by Harrington Wellness across retail and e-commerce channels and in Canada through medical and adult-use/consumer retail cannabis sales channels by Avicanna. The product formulations are also enrolled in several preclinical studies with leading Canadian medical institutions to assess their efficacy in chronic pain and osteoarthritis.

Under the re+PLAY Agreement, which has an initial three-year term, Avicanna has licensed the use of certain proprietary product formulations to Harrington Wellness to be used in connection with the manufacture and distribution of the re+PLAY Products in the United States. Additionally, Harrington Wellness has also licensed the use of the re+PLAY brand to Avicanna to be used in connection with the manufacture and distribution of the re+PLAY Products in Canada. The re+PLAY Products will be branded and sold under the re+PLAY brand in both the United States and Canada. Royalties are payable to Avicanna and Harrington Wellness as consideration for each of the licenses.

“As a former professional athlete myself and avid CBD user, I understand the importance of being in peak physical condition and finding products that help you to recover faster,” says Al Harrington, CEO of Harrington Wellness. “Avicanna has been an incredible partner in developing the re+PLAY formulas and expanding the product line’s availability into Canada.”

In commenting on the re+PLAY Agreement, Aras Azadian, CEO of Avicanna said, “I am thrilled to finally introduce our relationship with Al Harrington and Harrington Wellness. This partnership was formed on the alignment of the vision to introduce premium and scientifically backed products for athletic and active consumers to the market. Additionally, the distinct expertise of the two companies and collaborative spirit has yielded an advanced and evidence-based line of products that are tailored to promote a healthy active lifestyle for the athlete in all of us.”

To the knowledge of the Company, it is in compliance with all applicable laws in the jurisdictions in which it operates.

 

About Harrington Wellness

Founded in 2018 by Viola CEO and NBA Vet, Al Harrington, Harrington Wellness produces a wide range of products via in house manufacturing, joint venture projects and white label arrangements with other vetted organizations that stand for the highest quality and reliable medical benefits. These items are sold online via in house and existing marketplace sites, in brick and mortar retail and by health professions directly in their clinics.

Harrington Wellness’ hero brand, re+PLAY™ is a performance based CBD wellness brand created with the combined knowledge and experience of athletes, doctors, and certified athletic trainers. Our team is dedicated to creating best in class products that deliver the powerful healing properties of the plant to our customers. All products are made using a triple-tested process with hemp grown in the USA, and are free of heavy metals, pesticides, and harmful microbes.

 

About Avicanna Inc.

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

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

  • Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

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 laws of Canada and the U.S., the Company’s ability to license its intellectual property to Harrington Wellness, Harrington Wellness ability to license its marks to the Company, the market demand for the re+PLAY Products, the Company’s and Harrington Wellness’ ability to engage suitable contract manufacturers, and the ability to contract with suitable retailers to purchase and sell the re+PLAY Products. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 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 Launches RHO Phyto™ Topical Gels in Canada and Initiates Clinical Studies

Avicanna Launches RHO Phyto™ Topical Gels in Canada and Initiates Clinical Studies

  • RHO Phyto Deep Tissue Gels will be initially available on the Medical Cannabis by Shoppers Drug Mart™ online platform and expanded into specific consumer retail channels in February 2021.
  • Initiation of osteoarthritis preclinical trials in Canada in addition to the enrollment of the products into the UHN MC-RWE study to evaluate the effectiveness on pain, sleep, anxiety, and depression.

TORONTO, Jan. 28, 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 the launch of the RHO Phyto™ Deep Tissue Gels (the “RHO Phyto Deep Tissue Gels”) through Medical Cannabis by Shoppers Drug Mart as well as through additional adult use channels. The Company is also pleased to announce the initiation of pre-clinical osteoarthritis evaluations after successful in vitro studies and the enrollment of the Deep Tissue Gels in the Medical Cannabis Real World Evidence (“MC-RWE”) study. The MC-RWE study is led by the University Health Network (“UHN”) with the goal to evaluate the effectiveness of medical cannabis on pain, sleep and other related comorbidities.

About the RHO Phyto Deep Tissue Gels

The RHO Phyto Deep Tissue Gels synergistically combine natural clove oil and menthol with cannabinoids and natural polyphenols in advanced emulsions which are optimized for faster absorption and deeper delivery. The RHO Phyto Deep Tissue Gel formulations are also designed for long term cannabinoid shelf-life stability and accurate dosing with cooling sensation, and pleasant mint aroma. The deep tissue technology has been developed and optimized by Avicanna’s research and development team. Over the last 3 years, the RHO Phyto Deep Tissue Gel formulations have been validated by a series of preclinical studies where both stability and enhanced absorption into the deeper layers of the skin were shown.

The Cannabis and Pharmaceutical Market Opportunity

The launch of the RHO Phyto Deep Tissue Gels comes at a time when patients and consumers are seeking cannabinoid-based topical products and, despite the regulatory changes in October 2018 (“Cannabis 2.0”), there has been a limited number of topical products available in the projected $3B Canadian cannabis market.  In a 2018 Cannabis Report by Deloitte, 53% of users suggested they would try topical products in view of the new regulations. Additionally, 79% of these new users would like to use a topical product for potential pain relief.

Additionally, further clinical development of the RHO Phyto Deep Tissue Gel formulations is progressing with the goal of eventual registration as over-the-counter (“OTC”) drugs in legally permissible markets for relief of local pain associated with inflammation. The RHO Phyto Deep Tissue Gel product line is designed to compete with the current “gold standard” products such as Voltaren™.

Avicanna’s CEO, Aras Azadian commented: “With the launch of our topicals in Canada, we continue to validate our scientific capabilities of developing, optimizing and commercializing industry leading products and are extremely optimistic about their potential in the Canadian market. Additionally, we continue to demonstrate our commitment to our evidence-based approach with our recent results and initiation of further trials. As a cannabinoid-based biopharmaceutical company we are in a truly unique place to be able to commercialize these products through cannabis channels while we continue to make progress in their clinical development towards pharmaceutical drugs in parallel.”

Clinical Development              

Expanding on existing evidence1,2, the RHO Phyto Deep Tissue Gels are formulated to deliver a synergistic combination of cannabinoid and other active ingredients including Beta Caryophyllene in a topical formulation to address joint and muscle pain related to inflammation. To demonstrate potential efficacy, the products have been enrolled in Canadian preclinical studies to their efficacy in addressing localized pain and inflammation caused by osteoarthritis. The studies also seek to compare the efficacy of the RHO Phyto Deep Tissue Gels, with varying cannabinoid ratios, to Voltaren.

In addition, the RHO Phyto Deep Tissue Gel will be available in the MC-RWE studies led by UHN. This observational trial will evaluate the effectiveness of medical cannabis products on chronic pain, sleep, anxiety and depression through the completion of validated questionnaires over a 24 week period.

[1] Hammell DC, Zhang LP, Ma F, Abshire SM, McIlwrath SL, Stinchcomb AL, Westlund KN. Transdermal cannabidiol reduces inflammation and pain-related behaviours in a rat model of arthritis. Eur J Pain 2016;20: 936–48.

[2] Lowin T, Schneider M, Pongratz G. Joints for joints: cannabinoids in the treatment of rheumatoid arthritis. Curr Opin Rheumatol 2019;31:271–8.

About Avicanna Inc.

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

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

  • Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

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 availability of the Deep Tissue Gels in the adult use markets in February 2021, the synergistic combination of the ingredients of the Deep Tissue Gels, the ability of the combination of the ingredients of the Deep Tissue Gels contributing the faster absorption and deeper delivery of cannabinoids, to the effectiveness and stability of the Deep Tissue Gels, the ability of the Company to register the Deep Tissue Gels as OTC products. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 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 Initiates Pre-Clinical and Behavioural Studies on its RHO Phyto™ Formulary with University of Guelph and Provides Research and Management Team Updates

Avicanna Initiates Pre-Clinical and Behavioural Studies on its RHO Phyto™ Formulary with University of Guelph and Provides Research and Management Team Updates

TORONTO, Jan. 21, 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 has updated and amended its collaboration with Dr. Jibran Khokhar, Assistant Professor at the University of Guelph, and initiated prioritized pre-clinical studies on the RHO Phyto formulations that are commercialized in Canada and Colombia. Additionally, the Company provides an update on research projects with the University of Toronto and Thompson Rivers University as well as a change to its management team.

Initiation of pre-clinical studies on RHO Phyto in collaboration with University of Guelph

Further to Avicanna’s previous announcement regarding Dr. Khokhar’s research team at the University of Guelph being awarded a Natural Sciences and Engineering Research Council of Canada (“NSERC”) Alliance grant focused on the neurobiological underpinnings of cannabis toxicosis with the aim to evaluate Avicanna’s formulations in the treatment of cannabis-induced toxicosis, the project is now being expanded. The expansion of the project includes pharmacokinetic and behavioural testing of Avicanna’s RHO Phyto™ formulations as well as studying their efficacy in alleviating neuropathic pain and addiction. The data generated from the research will help guide Avicanna’s clinical development, including the pharmaceutical and real-world evidence studies related to the RHO Phyto formulations, and will provide additional information to health care practitioners who are recommending and prescribing the products in several markets.

COVID-19 drug candidate project update   

The research collaboration with the University of Toronto on the development of a drug candidate to treat lung inflammation caused by COVID-19, with funding support from an NSERC Alliance grant and a MITACS Alliance grant, is complete. The peer-reviewed grants were focused on the development of a cannabinoid formulation to be used for further research on COVID-19. The physical and chemical characterization of the optimized cannabinoid formulation is complete, which included its stability and drug release properties in relevant conditions.

COVID-19 and anti-inflammatory related research collaboration with TRU with non-dilutive funding

In partnership with Avicanna, Dr. Kingsley Donkor and collaborators from Thompson Rivers University (“TRU”), will be evaluating naturally derived cannabinoids and candidate formulations for their efficacy to modulate the receiving receptor of COVID-19 (angiotensin-converting ACE2 gene expression). This project will focus on elucidating the mechanism of action of novel prophylactic nasal and oral cannabinoid products for humans that target ACE2 viral gateways. Candidate formulations, once identified, will be evaluated for anti-inflammatory effects in human-derived lung tissue models. The research with TRU is supported by an NSERC grant and a MITACS Internship.

Management change

Avicanna further announces the resignation of Dr. Amza Ali from his role of Chief Medical Officer so that he may focus more on his medical, academic, and other research pursuits and to dedicate more time to his family. Dr. Ali’s resignation will be effective January 28, 2021. Dr. Ali will continue to advise on the Company’s neurology-related projects including the recently announced epilepsy collaboration with UHN.  Avicanna’s extensive medical and R&D team continues advancing the Company’s clinical projects and will maintain its scientific leadership position within the cannabinoid industry.

Aras Azadian, CEO of Avicanna, commented: “I want to thank Dr. Ali for his contributions during his tenure with Avicanna. He has been instrumental in establishing our medical guidelines and enhancing our clinical plans and we look forward to continuing to build on the medical and scientific platforms and best practices we have established. We also look forward to his continuous guidance on our neurological projects, including the very important epilepsy research we have recently embarked on.”

About Avicanna Inc.

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

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

  • Pura Earth™ or Pura H&W™: an advanced and clinically tested line of CBD consumer derma-cosmetic products; and,
  • RHO Phyto™: an advanced line of medical cannabis products containing varying ratios of CBD and THC currently available nation-wide across Canada in partnership with Medical Cannabis by Shoppers™, a subsidiary of Shoppers Drug Mart. RHO Phyto is the first strictly medical formulary of advanced “Cannabis 2.0” products, containing oils, sprays, capsules, creams, and gels, all 2 developed with scientific rigour, manufactured under GMP standards and supported by pre-clinical data.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

The company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UC5yBclNIsNf7VrE34iwt8OA.

Please join the conversation on our Avicanna supporter’s telegram group at https://t.me/Avicannainc.

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 complete the various studies, the Company’s and the research institutions’ abilities to maintain any and all required licenses or authorizations to perform the studies, and the Company’s ability to market and/or publish any data resulting from the studies. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.

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