Avicanna´s subsidiary obtains Good Agricultural and Collection Practices (“GACP”) Certification in Colombia
- The certification will allow the Company’s Aureus-branded raw material business with sales in 11 countries to include low cost and sustainable cannabis biomass for sale and export to the global marketplace
- The GACP certification for herbal starting materials of the European Medicines Agency is a pre-requisite for GMP extraction and a requirement for export of cannabis biomass into Europe.
TORONTO, November 4, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”) has met global conformity standards of Good Agricultural and Collection Practices (“GACP”), an international guide set forth by the European Medicines Agency for starting materials of herbal origin for its 360,000 square foot cultivation project in Santa Marta, Colombia. The certification will allow for the expansion of the Company’s raw materials supply business to include organic and now GACP certified dried flower and biomass at a global level.
The Aureus Santa Marta brand, which includes a range of cannabinoids and standardized genetics offerings, has been successfully exported into 11 countries and, with this recent milestone, will include cannabis flower and biomass offerings to the Company’s partners and global marketplace. The GACP certification also acts as a pre-requisite for European GMP extraction certification, which the Company intends to also attain in 2022.
The strategic timing of the certification is further supported by the recent progressive legislation in Colombia towards the cannabis industry where, pursuant to Decree 811 of 2021, the export of cannabis flower and biomass is expected be permitted.
The Company’s cultivation infrastructure in Santa Marta, Colombia has potential output of 30,000 kg of biomass per year where the company has been commercially cultivating CBD, CBG and THC dominant cultivars for the past few years. This certification completes the company’s objective of establishing a low cost, sustainable and standardized supply chain business with global standards including GACP and USDA National Organic Program organic certifications.
Lucas Nosiglia, President of Avicanna LATAM commented: “This achievement adds to our 3 of years of optimization, the ideal climate conditions and robust genetics of our cultivation practices which combined further fortify the clear competitive advantages of our global raw material business unit. Coupled with the new regulatory framework in Colombia which would authorize the export of flower; we will now deliver GACP and organic certified flower from our greenhouse and outdoor modalities to the global market.”
To the knowledge of the Company, it carries out its operations in compliance with all applicable laws in the jurisdictions in which it operates.
Avicanna’s raw material business units are based in Santa Marta, Colombia and are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna’s current commercial products and pharmaceutical pipeline for the global marketplace.
Additionally, under the Aureus™ brand, organic and GACP-certified flower and biomass, standardized cannabis extracts and feminized seeds are made available to cultivation, cosmetic and pharmaceutical partners around the world. Aureus-branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically and sustainably and include a range of extracts of CBD, THC and rare cannabinoids such as CBG. Avicanna’s supply chain business also benefits from federally regulated legislation in Colombia where the company is well positioned to be a global supplier of the less competitive psychoactive extracts including CBD and THC crude oil to meet the growing global demand.
Avicanna is a commercial stage Canadian biopharmaceutical company and an established leader in cannabinoid research, development, and evidence-based products for the global consumer, medical, and pharmaceutical market segments. Avicanna conducts its research in Canada including its R&D headquarters in the Johnson & Johnson Innovation Centre, JLABS @ Toronto, Canada, located in the MaRS Discovery District, and in collaboration with leading Canadian academic and medical institutions. Avicanna has established an industry leading scientific platform including advanced R&D and clinical development which has led to the commercialization of over twenty products across four main market segments:
- RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
- Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
- Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.
SOURCE Avicanna Inc.
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Ivana Maric by email at email@example.com.
The Company posts updates through videos from the official company YouTube channel https://www.youtube.com/channel/UCFXPBGdKSxOUOf_VZoSFSUA.
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the SMGH’s ability to maintain its licenses to cultivate cannabis, SMGH’s ability to maintain its certifications, SMGH’s ability to supply any other company based on its current or newly acquired certifications, or SMGH’s ability to acquire new certifications or business partnerships. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.