The education portal provides modules, case studies and other resources related to medical cannabis for Health Care Professionals

Established with the support of experts in the fields of pain management, neurology, and dermatology, the portal is designed to address potential gaps in knowledge and training related to the potential use of cannabis in a medical context.

TORONTO, October 18, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has launched its medical cannabis education portal, ”Avicenna Academy”, a no-cost resource and medical education portal for Health Care Professionals (“HCPs”). The medical education portal is designed to support HCPs through education and practical information with respect to the potential use of medical cannabis, with a view towards expanding access as well as measuring patient outcomes.

Avicenna Academy https://avicenna-academy.teachable.com

The Avicenna Academy is designed to address the potential gaps in understanding cannabinoid-based products while making available resources and information which may be tools for the medical community. Towards that goal, Avicanna’s medical team has combined its research and development expertise with cannabinoid formulations utilizing advanced drug delivery systems. Practical experience in delivering RHO Phyto^TM medical cannabis products through established medical portals, pharmacies, major hospitals both in Canada and international markets has allowed Avicanna to develop various of educational resources such as downloadable guides, online modules, and access to discussions with key opinion leaders across a range of medical specialities.

The portal currently includes a range of resources including HCP guidelines and supporting information regarding medical authorization documentation for patients in Canada.

The preliminary set of modules cover a range of topics including:

• The history of medical cannabis use
• The endocannabinoid system
• Potential therapeutic targets
• The current state of evidence
• Dosing and titration overview
• Case studies and practical use

The Avicenna Academy looks towards expanding offerings in the portal that are reflective of on-going research in the field. Access to the Avicenna Academy will be offered at no cost for HCPs to support necessary education and training. The company is actively collaborating with the medical community to improve this current initiative and is also working toward building indication-specific modules in collaboration with Canadian and international key opinion leaders and experts in their respective fields.

“We are excited. about the launch of this Platform as a resource that facilitates information and education to potentially improve patient outcomes and foster further collaboration with the medical community” stated Aras Azadian, CEO, Avicanna Inc.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

If you are a Healthcare Professional and would like to learn more about using medical cannabis in your practice, please visit Avicenna Academy.

The Company posts updates through videos from the official Company YouTube channel.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements with respect to the Company’s future business operations, potential collaborations, the opinions or beliefs of management and future business goals. 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 March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

Dr. Mac Burnham’s team will explore Avicanna’s drug candidate and its proprietary combination of cannabinoids in pre-clinical model for seizures. 

Avicanna further expands its current research and commercial focus in Epilepsy which is supported by current medical cannabis sales and on-going research with UHN

TORONTO, Sept. 15, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has expanded its research collaboration in field of Epilepsy with a new collaboration with the University of Toronto and Dr. Mac Burnham’s research team to explore the efficacy of Avicanna’s proprietary formulations in pre-clinical models for Epilepsy.

New research collaboration with University of Toronto

The research collaboration led by Dr. Mac Burnham’s team will explore the efficacy of Avicanna’s drug candidates including AVCN319302 in animal models for Epilepsy. In addition, the research collaboration will evaluate the anti-seizure properties of rare cannabinoids in isolation and in combination. Dr. Burnham is a professor emeritus of pharmacology and toxicology at the University of Toronto’s Temerty Faculty of Medicine, and is a co-director of EpLink, the Ontario Brain Institute’s Epilepsy Research Program. He has over 150 publications and has contributed greatly to the advancement of anti-seizure therapies.

According to Dr. Burnham, “The cannabinoids, alone and in combination, are some of the most promising antiseizure drugs that I have seen in many years of research.”

Ongoing research collaboration with University Health Network

The research by Dr. Burnham’s team will expand on an existing collaboration with the University Health Network and Dr. Peter Carlen, a professor of medicine and physiology at Temerty Faculty of Medicine, and senior scientist at the Toronto Western Research Institute.

The previously reported, electrophysiological studies on seizure induced wildtype cortical slices determined that Avicanna’s proprietary drug candidate, AVCN319302, had significant anti-convulsant effects and demonstrated strong potential to treat patients diagnosed with intractable forms of Epilepsies and those at risk of seizure-induced Sudden Unexpected Death.

“We are excited to continue expanding our research on cannabinoids and their anti-seizure properties in the field of Epilepsy and to be doing so with leading Canadian institutions and key opinion leaders. In parallel, we are also excited by the rate of early acceptance of our medical cannabis formulation (RHO Phyto Micro Drop 50 CBD) by epilepsy patients, where such early acceptance also provides real world data and evidence. The combination of real-world evidence and ongoing research collaborations enable us to further develop our pharmaceutical pipeline and further progress our drug candidate in the field of epilepsy,” noted Dr. Karolina Urban, Vice President Scientific and Medical Affairs.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related. 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 March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

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

TORONTO, Aug. 15, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce the filing of its interim financial statements for the three-month period ending June 30, 2022 (“Q2 2022”). 

“We are pleased to report on our continued progress and global commercialization efforts where we primarily focused on, and achieved, growth of our four brands in the Canadian marketplace. We also pursued continuous optimization of our operations which was demonstrated by significant cost reductions over the quarter, with the goal of self-sufficiency,” stated Aras Azadian, CEO at Avicanna Inc.

Q2 2022 highlights:

6-month revenue of $2.14M, representing 101% increase from the same period in the prior year, supported by increased international and licensing revenue and through further progress across the Canadian commercialization efforts.

Progression of cost reduction initiatives, including a 35% reduction in South American headcount and expected reduction of global operating expense (“OPEX”). This was coupled with approx. $1M in proceeds from the sale of non-core subsidiary Sativa Nativa and the divestment other non-core and non-strategic business units including its medical cannabis division in Colombia.

Exclusive License and Supply Agreement with Major South American Pharmaceutical Company, to commercialize up to four (4) of Avicanna’s proprietary cannabinoid-based pharmaceutical preparations. Through the license and supply agreement, Avicanna will license the Company’s intellectual property and supply final products starting initially with its proprietary 10% cannabidiol oral preparation. In connection with the partnership Avicanna can earn up to $1.3M CAD in initial licensing fees through achieving near-term milestones.

Progression of international expansion, with entrance into the 18th international market for all Avicanna’s products. The new markets include Aureus branded exports to Lesotho with standardized genetics and Portugal with THC and CBD extracts, which supported the supported a 92% growth in international revenues over the same period last year.

Expansion RHO Phyto formulary with the Cannabigerol (CBG) products into the Canadian market, including sublingual, and transdermal formulations, which are available in Ontario and will be made available through various medical and channels across Canada during Q3 2022.

Expansion of the partnership with Bio-Gate AG to launch Pura H&W into Europe. The exclusive distribution agreement includes 5 SKUs from Pura H&W’s evidence-based derma-cosmetics portfolio which will be commercialized through Bio-Gate’s existing distribution channels.

Progression of Epilepsy research including the initiation of new pre-clinical research collaboration with Dr. Mac Burnham and the University of Toronto to analyze the potential role of specific rare cannabinoids in epilepsy models. The on-going research on epilepsy is coupled with RHO Phyto Micro drop 50 formulation achieving the company’s best performing SKU on the Medical Cannabis by Shoppers™ platform mainly due to its adoption by Canadian neurologists for their pediatric epilepsy patients.

Advancements in the pharmaceutical and medical cannabis pipeline, including the completion the submission of the company’s first international drug dossier for Trunerox into Brazil under the RDC327 legislation and in Colombia, and Ecuador as generic pharmaceutical.

$1.5M Strategic private placement with lead investor Ei. Ventures, Inc., a technology company which seeks to empower mental wellness through psychoactive compounds, nutraceuticals, and technology, and with additional participation from other investors.

Other highlights subsequent to Q2 2022

Agreement to Develop and Commercialize Adaptogen Nutraceuticals. In partnership with Ei. Ventures Avicanna will be utilizing existing scientific platform and drug delivery systems to develop and commercialize Psilly™ branded functional fungi-based products. The initial focus of the research and development efforts will be on functional, apoptogenic, fungi-based formulations in the form of consumer friendly and single dosed products.

The NBA players association announced Re+play as an official partner. The performance-based wellness and recovery line created by Harrington Wellness has partnered with the NBPA to bring topicals and technologically advanced products to consumers in the US via Amazon and Walmart in the US. Avicanna’s technology and formulations are the basis of the Re+Play products and the Company will be earning royalties for its technology, supplying the CBD in the US market in addition to commercializing Re+Play in Canada where the products are already launched on the Ontario Cannabis Store (“OCS”) and Medical Cannabis by Shoppers™ platforms.

Management commentary

During the second quarter the company continued to make commercial progress across all its business units, opened new international markets and demonstrated consistent increase in the number Canadian commercia listings across medical and adult use channels. The company did however face industry wide price compression and faced stocking challenges with one of its manufacturing partners in Canada which resulted delay of delivery of specific commercial SKU’s and ultimate need to change the manufacturing partner for during the second quarter, the results of which is in the short terms is a reduced expectation of 2022 revenue of $6M CAD. Long term the management believes that the change of manufacturer in Canada will result in improved margins and more consistent delivery of its proprietary products as commercial efforts and revenue continue to scale up. The company also continued to expand its scientific platform, progress its pharmaceutical pipeline further establish its brands at an international level.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of the proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company’s future business operations, potential collaborations, the opinions or beliefs of management and future business goals. 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 March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

Psilly™ branded functional fungi-based products will be developed by Avicanna utilizing Avicanna’s proprietary delivery systems and scientific platform

TORONTO, July 20, 2022 (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 & Royalty Agreement (“IPLRA”) with Ei.Ventures, Inc. (“Ei.”) to develop and commercialize functional fungi-based products.

“Over the past six years our team established a scientific platform that has led to the commercialization of several products across international commercial channels in the regulated cannabis industry. As a part of our continued growth, we are thrilled to be entering into this agreement where our goal will be to demonstrate our scientific capabilities across alternative natural products and developing new fungi-based functional products. We look forward to working towards developing the new products in the nutraceutical area in a standardized and evidence-based way, as we have with our initial cannabinoid-based products.” stated Aras Azadian, CEO of Avicanna.

The initial focus of the research and development efforts will be on functional, apoptogenic, fungi-based formulations in the form of consumer friendly and single dosed products. The new product development efforts are to be led by Avicanna’s R&D team, leveraging the company’s existing scientific platform and proprietary delivery systems to develop appropriately dosed and synergistic formulations.

“We are excited to enter into this agreement with Avicanna to develop and commercialize the Psilly™ brand of products, starting with functional mushroom blends, gummies and chocolates, and which relationship can potentially evolve to botanical psychedelic pharmaceutical products” states David Nikzad, CEO of Ei. Nikzad continues, “we believe in the Avicanna team and their mission to develop advanced and proprietary plant-based formulations, and we will bring our blockchain, Web3 and Metaverse assets to scale and support the success of the products developed under our agreement.”

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

About Ei.Ventures, Inc.

Ei.Ventures Inc. is an early-stage tech company empowering mental wellness through psychoactive compounds, nutraceuticals and technology. Ei is leveraging blockchain, emerging technologies and the Metaverse to deliver governmental approved therapeutic treatment options that address the current global mental healthcare pandemic. It is the goal of Ei to utilize the development of these technologies, to create a safe, efficient, and secure way to provide telehealth services in general and specifically to the psychoactive therapeutics. Additional information on Ei can be found on the Ei’s website at: https://www.ei.ventures.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news release may be identified using words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. 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 March 31, 2022 filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

A photo accompanying this announcement is available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/d9d10bb5-5453-4115-acc9-ff4385d04cbd

The exclusive distribution agreement with Bio-Gate AG includes 5 SKUs from Pura H&W’s evidence-based derma-cosmetics portfolio

Initial portfolio launch is planned for Germany, Austria, and Switzerland in Q3 2022

TORONTO, July 07, 2022 (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 completed its first commercial export of its evidence-based derma-cosmetic line Pura H&W (“Pura” or “Pura Health & Wellness”) into the European Market as a part of its supply and distribution agreement with Bio-Gate AG (“Bio-Gate”).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bab76054-b480-4a1c-9d7a-0b8d3813b05b

Avicanna’s evidence-based derma-cosmetics portfolio has now been successfully imported into Germany where Bio-Gate prepare to launch this summer. The portfolio of products will initially be available online at http://www.purahw.com and then further expanded into other online, retail and pharmacy channels across Germany, Austria, and Switzerland during 2022.

“We are pleased to be entering the European market with our first line of branded products and to be doing so in collaboration with Bio-Gate. Both teams are excited about the launch of the skincare portfolio in the coming months and are happy to see the Pura Health and Wellness brand establish a new European foothold,” commented Jens Kramer, VP of European Operations at Avicanna.

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

About Pura H&W

Pura Health & Wellness (Pura H&W) is Avicanna’s derma-cosmetic line which utilizes a combination of purified CBD and other synergistic botanical ingredients designed to naturally regulate and nourish the skin. The Pura H&W product line was developed by Avicanna and specific products have undergone clinical trials. The products are now commercial under Pura H&W or Pura Earth in Canada, Colombia, Ecuador, the U.S.

The Pura H&W formulations have been developed and optimized to deliver purified, THC-free CBD in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare. CBD has been shown to promote skin health by inducing antioxidant, anti-inflammatory, and anti-apoptotic responses that could be beneficial for a variety of dermatological conditions such as eczema or atopic dermatitis. In addition, CBD can down-regulate the activity of cells that are critical in the production of skin oils and therefore may dampen the production in acne-prone skin.

About Bio-Gate AG

Bio-Gate AG is a health technology company and a leading provider of innovative technologies and products for health, infection control and hygiene that can make living together safer and healthier, and improve the well-being of each individual. Bio-Gate specializes in providing materials and surfaces with antiviral, antimicrobial or biologically active properties. Bio-Gate AG enhances materials and products, particularly in the field of medical technology, for example in the coating of implants or wound dressings. In addition, Bio-Gate technologies are used in dermatological active cosmetics and wound care products, as well as consumer and industrial products.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news release may be identified using words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. 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 March 31, 2022 filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

The company is maintaining operations and its shares in its primary Majority-Owned Subsidiary, Santa Marta Golden Hemp, also based in Santa Marta Colombia.

TORONTO, June 24, 2022 (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 sale of its stake in Sativa Nativa S.A.S. (“Sativa Nativa”), which was the Company’s secondary majority owned Colombian subsidiary.

The aggregate price paid by the purchaser for the Company´s shares in Sativa Nativa was approximately CAD $675,000 in addition to a potential premium of CAD $130,000 subject to the accomplishment of specific short-term milestones. The transaction allows the Company to eliminate redundancies, reduce its operational costs and generate efficiencies across its South American operations by focusing its supply chain efforts at its much larger and more operationally advanced majority owned subsidiary Santa Marta Golden Hemp (“SMGH”). The operations at SMGH have been the source of the company’s Aureus-branded commercial exports to 16 countries and include the cultivation, extraction and production of cannabinoid raw materials including active pharmaceutical ingredients and seeds. SMGH is also the source of the Company’s cannabinoids for most of its cosmetic and pharmaceutical preparations.

Lucas Nosiglia, President of Avicanna LATAM, commented: “We are happy to announce this strategic transaction which allows us to increase efficiencies throughout our supply chain infrastructure and re-focus resources on our core business units including our pharmaceutical preparations. In parallel we continue to make progress in our supply chain business at SMGH through which we have the capacity to continue to supply Avicanna and its global partners with high quality inputs”.

About Aureus™

Avicanna’s supply chain business unit is based in Santa Marta, Colombia and provides a consistent source of cannabinoid raw materials for the global marketplace. These include active pharmaceutical ingredients and feminized seeds, for Avicanna’s cosmetic, medical, and pharmaceutical products, in addition to supplying the company’s partners around the world. Aureus-branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they leverage optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably with USDA organic and GACP certifications.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news release may be identified using words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. 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 March 31, 2022 filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

This export marks the 16^th international market entry for Avicanna and the first export of proprietary genetics into Africa.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

 

TORONTO, June 09, 2022 (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 completed its first commercial export of feminized cannabis seeds to the African region with an initial export to Lesotho.

This export marks Avicanna’s 15th international new market for Avicanna.
 NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

 

TORONTO, May 24, 2022 (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”), SMGH has completed its first commercial export of high concentration THC and high concentration CBD full spectrum psychoactive cannabis extracts to Portugal.

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, May 12, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce the filing of its interim financial statements for the three-month period ending March 31, 2022 (“Q1 2022”) and the transition of the role of Chief Financial Officer.

“We are pleased to report on our continued progress and global commercialization efforts where we primarily focused on, and achieved, growth of our four brands in the Canadian marketplace. We also pursued continuous optimization of our operations which was demonstrated by significant cost reductions over the quarter, with the goal of self-sufficiency,” stated Aras Azadian, CEO at Avicanna Inc.

Q1 2022 highlights:

Approximately 35,000 products sold representing a 41% increase in sales over last quarter and representing a 765% increase over Q1 2021. This was driven by a 44% increase in the number of Canadian product listings over the last quarter across medical and adult use channels.

Revenue of $1.04M, representing 283% increase in revenue over Q1 2021 and $0.01 net income per share compared to ($0.14) net loss per share in Q1 2021.

On-going cost reduction, resulting in $2M SG&A and a 28% reduction compared to $2.85M SG&A in Q1 2021.

Entered Supply Agreement with Chilean based pharmaceutical company Knop Laboratorios S.A. to supply Aureus branded products.

Changes to the board and executive team with the appointment of two experienced pharmaceutical executives, Eileen McCormack to the Board of Directors and Stephen Kim as the Chief Legal Officer.

Commenced Epidermolysis Bullosa Studies with the Hospital for Sick Children. The study led by Dr. Elena Pope is designed to analyze the efficacy of the Company’s dermatological products on a rare skin disease.

Closed a $2.5M, non-brokered private placement at $0.35 cents per unit, where each common share would entitle the holder to half warrant exercisable at $0.40 cents per share.

Advancements in the pharmaceutical and medical cannabis pipeline, including the completion of the company’s first international drug dossier for Trunerox™ in Brazil and the advancement of several medical cannabis pipeline products including water soluble formulations.

Other highlights subsequent to Q1 2022

Entered into Exclusive License and Supply Agreement with South American based pharmaceutical company, to commercialize up to four (4) of Avicanna’s proprietary cannabinoid-based pharmaceutical preparations. Avicanna may possibly earn up to $1.3M CAD in initial licensing fees through achieving various milestones.

Closed $1.5M strategic private placement with lead investor Ei. Ventures, Inc., a technology company which seeks to empower mental wellness through psychoactive compounds, nutraceuticals, and technology, and with participation from other investors.

Expanded RHO Phyto^TM formulary with Cannabigerol-based (“CBG”) products into the Canadian market, including oral, sublingual, and transdermal formulations which is anticipated to be made available through various medical and adult-use channels across Canada by Q3 2022.

Entered Importation & Distribution Agreement with Bio-Gate AG in Germany, to expand derma-cosmetics Brand Pura H&W™ into the European Union. Pura H&W’s evidence-based derma-cosmetics portfolio will be commercialized through Bio-Gate’s existing distribution channels with initial launches planned for Germany, Austria, and Switzerland in Q2 2022.

CFO Transition

The Company has accepted the resignation of its Chief Financial Officer, Dave Sohi, effective May 18, 2022. He will leave to pursue another opportunity and will for a period provide transition advisory services to the Company. The Company is pleased to announce Mr. Phillip Cardella, CPA, CA to the position of Interim Chief Financial Officer effective May 18, 2022. Previously, Mr. Cardella held the position of Senior Vice President of Finance at the Company, and prior to joining the Company practiced accounting with MNP LLP, one of the largest full service professional accountancy and business advisory firms in Canada.

“We want to thank Dave for his 5 years of service where he helped deliver our common vision into a commercial stage multinational company and helped weather the many challenges associated with building a company operating in a novel and regulated industry. We wish Dave all the best in his future endeavours,” stated Azadian. “We are also delighted that Phil is able to assume the role of Interim CFO with the perspectives of, and familiarity with, the Company that only someone that has as already been working here can have,” continued Azadian.

About Avicanna Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of the proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company’s future business operations, potential collaborations, the opinions or beliefs of management and future business goals. 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 March 31, 2022, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.

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, May 06, 2022 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a commercial stage, international biopharmaceutical company focused on the commercialization of evidence-based, cannabinoid-based products, is pleased to announce that it has closed a strategic non-brokered private placement offering of 4,210,931 ‎‎units of the Company (the “Units”) at a price of $0.35 per Unit for aggregate gross proceeds of approximately $1.475 million (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (each, a “Common Share”) and one-half of one (0.5) Common Share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one (1) Common Share at an exercise price of $0.40 per share, subject to adjustment in certain events, for a period of 36 months.

The lead investor in the Offering was Ei.Ventures, Inc., or Emotional Intelligence Ventures, (“Ei.Ventures”), a technology company which seeks to empower mental wellness through psychoactive compounds, nutraceuticals and technology, with additional participation from other investors.

David Nikzad, CEO of Ei.Ventures commented, “We are excited to make this strategic investment in Avicanna. We believe in the Avicanna team for the development and advancement of proprietary plant-based formulations, and we intend to bring our blockchain, Web3 and Metaverse assets to support the continued success of Avicanna and its products.”

The Company intends to use the proceeds from the Offering for general working capital purposes, general and administrative expenses, expenditures related to production and manufacturing, research and clinical development.

The Unit Shares, Warrants, and any securities issuable upon conversion or exercise thereof, are subject to a four-month hold period under applicable ‎securities laws in Canada. 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 Inc.

Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of evidence-based cannabinoid-based products for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development that has led to the commercialization of more than thirty products across various market segments:

Medical Cannabis & Wellness Products: Marketed under the RHO Phyto™ brand these medical and wellness products are a line of pharmaceutical-grade cannabinoid products containing varying ratios of cannabidiol (“CBD”) and tetrahydrocannabinol (“THC”). The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. The formulary is marketed with consumer, patient and medical-community education and training.

Pharmaceutical Pipeline: Leveraging Avicanna’s scientific platform, vertical integration, and real-world evidence, Avicanna has created a pipeline of patent-pending drug candidates that are indication-specific and in various stages of clinical development and commercialization. These cannabinoid-based drug candidates look to address unmet medical needs in the areas of dermatology, chronic pain, and various neurological disorders. Avicanna’s first pharmaceutical preparation (Trunerox™) is in the drug registration stage in South America.

Click to watch Avicanna’s Corporate Video 2022

SOURCE Avicanna Inc.

Stay Connected

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

The Company posts updates through videos from the official Company YouTube channel.

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 news 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. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of the proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company’s future business operations, potential collaborations with Ei.Venture, the opinions or beliefs of management and future business goals. 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 March 31, 2022 filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this news 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.