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

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

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

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

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

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

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

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

About Viola

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

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

 

About Avicanna Inc.

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

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

SOURCE Avicanna Inc.

Stay Connected

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

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of management’s experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information form dated April 15, 2020 (the “AIF”) and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

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

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

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

TORONTO, November 8, 2021 (GLOBE NEWSWIRE) – Avicanna Inc. (“Avicanna” or the “Company“) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it has scheduled a conference call on Friday, November 12, 2021 at 8:30AM Eastern Time to discuss the results of its fiscal third quarter ended September 30, 2021 (“Q3 2021 Results”). Aras Azadian, Chief Executive Officer, Dave Sohi, Chief Financial Officer, and Lucas Nosiglia, President of LATAM will host the call and a question and answer period. The Company will report its Q3 2021 Results before the open of markets on Friday, November 12, 2021. The Company further announces the finalization of the previously announced Warrant Amendment (as defined below).

Conference Call Details

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

LINK:                                                    https://tinyurl.com/AVCNQ32021

Warrant Repricing

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

About Avicanna

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

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

SOURCE Avicanna Inc.

Stay Connected 

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

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release includes statements containing certain “forward-looking information” within the meaning of applicable securities law (“forward-looking statements”). Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These forward-looking statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions, estimates and assumptions of management in light of management’s experience and perception of historical trends, current conditions and expected developments at the date the statements are made, such as current and future market conditions, the current and future regulatory environment and future approvals and permits. Forward-looking statements are subject to a variety of risks, uncertainties and other factors that management believes to be relevant and reasonable in the circumstances could cause actual events, results, level of activity, performance, prospects, opportunities or achievements to differ materially from those projected in the forward-looking statements, including general business and economic conditions, changes in laws and regulations, product demand, changes in prices of required commodities, competition, the effects of and responses to the COVID-19 pandemic and other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual information form dated September 3, 2021 (the “AIF”) and final short form prospectus dated November 27, 2020, filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions that the list of risks, uncertainties and other factors described in the AIF is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such information. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

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

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

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

TORONTO, November 4, 2021 (GLOBE NEWSWIRE)Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that its majority owned Colombian subsidiary, Santa Marta Golden Hemp S.A.S. (“SMGH”) has met global conformity standards of Good Agricultural and Collection Practices (“GACP”), an international guide set forth by the European Medicines Agency for starting materials of herbal origin for its 360,000 square foot cultivation project in Santa Marta, Colombia. The certification will allow for the expansion of the Company’s raw materials supply business to include organic and now GACP certified dried flower and biomass at a global level.

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

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

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

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

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

About Aureus

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

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

About Avicanna

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

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

SOURCE Avicanna Inc.

Stay Connected

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

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the SMGH’s ability to maintain its licenses to cultivate cannabis, SMGH’s ability to maintain its certifications, SMGH’s ability to supply any other company based on its current or newly acquired certifications, or SMGH’s ability to acquire new certifications or business partnerships. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated September 3, 2021 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com. The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Avicanna Completes Commercial Export of CBD Isolate and CBD Full Spectrum Psychoactive Derivatives from Colombia to Chile

Avicanna Completes Commercial Export of CBD Isolate and CBD Full Spectrum Psychoactive Derivatives from Colombia to Chile 

  • The Cannabis Derivatives are derived from Avicanna’s cultivation and extraction infrastructure in Santa Marta, Colombia designed to supply partner companies and the manufacture of Avicanna’s own finished products.

TORONTO, Oct. 22, 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”), it has completed a commercial exports of CBD Isolate and CBD full spectrum psychoactive cannabis resin (the “Cannabis Derivatives”) to a leading Chilean homeopathic and naturopathic pharmaceutical company.

The Cannabis Derivatives, branded as Aureus™, are cultivated, extracted, and manufactured by SMGH. In addition, for Avicanna’s global input needs, SMGH also supplies other 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. This new export to Chile is a recurring order and part of on-going relationship with an established homeopathic Chilean company.

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

About Aureus

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

About Avicanna

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

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

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

Cautionary Note Regarding Forward-Looking Information and Statement

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, or SMGH’s ability to export Cannabis Derivatives to Chile. 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.

Avicanna Closes Non-Brokered Private Placement Raising $3.9 Million and Announces Warrant Repricing

Avicanna Closes Non-Brokered Private Placement Raising $3.9 Million and Announces Warrant Repricing

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

TORONTO, Oct. 19, 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 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 4,587,022 units (the “Units“) at a price of CAD$0.85 per Unit for aggregate gross proceeds of approximately CAD$3.9 million.

Each Unit is comprised of one (1) common share in the capital of the Company (each, a “Common Share“) and one-half of one (0.5) 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$1.10 per Warrant Share for a period of three years from the closing of the Offering.

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, and research and clinical development.

In connection with the closing of the Offering, the Company paid aggregate finder’s fees of approximately $65,000 to eligible finders.

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.

In addition, the Company announces the proposed repricing of ‎1,589,098 ‎common share purchase warrants (the “Term Loan Warrants”), expiring September 20, 2024, ‎issued to the lender that advanced the secured term loan in the principal amount of $2,118,000 to the Company in August 2021. The exercise price of the Term Loan Warrants will be repriced from $1.13 to $1.10 (the “Warrant Amendment”), being the same exercise price of the Warrants issued in connection with the Offering.

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative Iryna Zheliasko by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

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 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 September 3, 2021 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 Completes First Commercial Export of Feminized Cannabis Seeds from Colombia to Peru and Argentina

Avicanna Completes First Commercial Export of Feminized Cannabis Seeds from Colombia to Peru and Argentina

  • This marks Avicanna’s first commercial exports of proprietary genetics in the form of feminized seeds into the Peruvian and the Argentine medical cannabis markets.
  • Avicanna worked closely with the Colombian and Argentine ministries of agriculture to establish the phyto-sanitary requirements to allow for continuous supply to the emerging Argentine medical cannabis industry with standardized and feminized seeds.

/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, October 1, 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”), it has completed its first commercial exports of its proprietary genetics in the form of feminized cannabis seeds to Peru and Argentina.

The characterization, evaluation and production of these seeds were all completed through Avicanna’s vertical integration at SMGH over the past 3 years and validate the company’s leadership in the breeding and stabilization of cannabis strains in South America. The seeds are a part of Avicanna’s supply chain business unit branded as Aureus™, which also includes within its portfolio feminized seeds, full spectrum extracts, distillates, isolated cannabinoids (CBD, THC, CBG, and other rare cannabinoids), and bulk formulations.

Peruvian legislation allows for the importation, distribution, and sale of cannabis, its seeds, its extracts and derived products, for medical and scientific research purposes. Current Argentinian legislation allows for the importation, distribution, and sale of cannabis, its seeds, its extracts and derived products, for medical and scientific research purposes related to the treatment of patients with refractory epilepsy under the Exception Access Regime. Argentinian legislation also allows for certain government agencies to cultivate cannabis in collaboration with provincial agencies whom Avicanna is currently supplying with its genetics.

Lucas Nosiglia, President of Avicanna LATAM commented: “After several years of R&D developing our breeding program, we have established a world-renown genetics platform and established a regulatory pathway for the export of our genetics into what is now 4 countries. We are thrilled that our pioneering efforts have enabled us to supply and support our Argentine and Peruvian partners with their long-term medicinal cannabis cultivation programs. With this program we are delivering federally registered genetics that are optimized and standardized for industrial agronomic performance in both greenhouse and outdoor cultivation models.”

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

About Aureus

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

 

About Avicanna

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative Iryna Zheliasko by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the  Company’s  and SMGH’s abilities to continue to produce seeds, SMGH’s ability to maintain its licenses to produce seeds, or SMGH’s ability to export seeds to Peru, Argentina, or anywhere else. 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.

Avicanna Files US Patent Application for a Novel Cannabinoid Formulation in Reducing Incidence of Seizures and Sudden Unexpected Death in Epilepsy

Avicanna Files US Patent Application for a Novel Cannabinoid Formulation in Reducing Incidence of Seizures and Sudden Unexpected Death in Epilepsy

  • Research findings originated from cannabinoid-based collaboration with leading epilepsy researcher, Dr. Peter Carlen, at UHN that is also supported by a Mitacs Accelerate program grant.
  • Avicanna’s proprietary formulation showed promising pre-clinical results in reducing seizures and will be developed through the company’s pharmaceutical development pipeline as an epilepsy drug candidate.

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

TORONTO, Sept. 24, 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 pharmaceuticals is pleased to announce that it has filed a provisional patent application with the United States Patent and Trademark Office, entitled “Methods for Reducing or Eliminating Incidence of Seizures and Sudden Unexpected Death in Epilepsy”, on the use of a novel cannabinoid formulation (the “Formulation Candidate”).

The research findings originated from the ongoing multi-level cannabinoid-based collaboration with leading epilepsy researcher Dr. Peter Carlen at the world-renowned Krembil Research Institute at the University Health Network (“UHN”). Preliminary electrophysiological studies on seizure induced wildtype mouse cortical slices determined that treatment with the Formulation Candidate produced significant anti-convulsant effects as compared to treatment with cannabidiol (“CBD”) or tetrahydrocannabinol (“THC”) alone. These results, obtained in a well-established in vitro model, suggest that, in addition to anti-convulsant properties, the Formulation Candidate demonstrates strong potential to treat patients diagnosed with intractable forms of epilepsies and at risk of seizure-induced Sudden Unexpected Death in Epilepsy (“SUDEP”). Further studies on the mechanism of action of the cannabinoids in the Formulation Candidate confirmed that the cannabinoids acted as selective 5-HT1A receptor agonists similar to established 5-HT1A receptor agonists in seizure-like events.

Aras Azadian, Chief Executive Officer of Avicanna, stated: “Understanding the anti-convulsant properties of our proprietary formulation in seizure disorders is important particularly since this combination drug has potential to reduce the likelihood of seizure-induced sudden death in epilepsy. The exceptional research conducted by Dr. Carlen’s team with support from our R&D team, and the resulting patent submission will be a major driver for guiding our long-term drug and clinical development plans, particularly since its in the area with an existing FDA approved cannabinoid-based drug.”

Avicanna intends to conduct in vivo studies in the coming months in order to formalize this provisional application. If granted, this patent application will provide Avicanna with protection on the use of the Formulation Candidate within a specified ratio of cannabinoids, alone or in combination with other anti-epileptic agents.

About Avicanna

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia, its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative Iryna Zheliasko by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s ability to generate data to support a final patent application, the Company’s ability to continue its collaboration with UHN, the Company’s ability to conduct further research on the Formulation Candidate, the grant of any patent for the Formulation Candidate. 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.

Avicanna Completes Registration and Commercial Export of its Evidence-Based CBD Dermacosmetics Brand, Pura Earth, in Ecuador

Avicanna Completes Registration and Commercial Export of its Evidence-Based CBD Dermacosmetics Brand, Pura Earth, in Ecuador

  • Four SKUs of Pura Earth branded dermacosmetics have been successfully registered with ARCSA, imported into Ecuador, and will be distributed and commercialized through previously announced partnership with Spenta S.A.
  • This marks the 12th country and market opening of Avicanna’s product offerings.

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

TORONTO, Sept. 16, 2021 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avicanna” or the “Company) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products is pleased to announce that it has completed product registration and its first commercial export of its Pura Earth branded dermacosmetics products in Ecuador.

The initial export includes four SKUs of the Pura Earth branded products that have been manufactured in Colombia under GMP conditions and will be commercialized and distributed through a partnership with Spenta S.A. through retail and e-commerce channels. The CBD dermacosmetics have also been registered and approved for sales as consumer cosmetics products by the Ecuadorian health authorities, Agencia Nacional de Regulación, Control y Vigilancia Sanitaria (“ARCSA”).

Pura Earth and the Potential of CBD Skincare

The Pura Earth product formulations have been developed and optimized to deliver purified, THC-free cannabidiol (“CBD”) in synergistic combinations with other natural ingredients known to provide specific functional benefits in skincare 1 – 2. 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 as eczema or atopic dermatitis 1-3. 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 skin4.

Three (3) out of the four (4) Pura Earth products are dermatologist tested to ensure there are no occurrences of skin irritation or sensitization, they are demonstrated to have physical and chemical stability and each have a shelf life of at least two (2) years. The formulations have been optimized over the last three (3) years through Avicanna’s R&D infrastructure, to increase CBD uptake into the skin and address various consumer needs. In addition to the completed clinical trials all Pura Earth products are not tested on animals and are vegan.

“After years of R&D and clinical development of what we believe is the most advanced line of CBD skin care products, we are thrilled to expand our distribution capabilities into Ecuador. Although this is an early stage for the Latin American market, we believe this shows the potential of Pura Earth as a leading skin care brand in the region,” stated Lucas Nosiglia, President of Avicanna LATAM.

About the Initial 3 Pura H&W Products and the Clinical Studies

The 3 cosmetic clinical studies were completed on Avicanna’s formulations targeting cosmetic factors associated with aging, acne-prone skin, and eczema-prone skin. The successfully completed studies involved 156 patients that were tested for safety and specific dermacosmetic endpoints, including hydration and excess oil production. All three studies achieved positive results in the endpoints with no adverse effects, making Pura Earth one of the only cannabinoid consumer lines with human safety and efficacy data. For more information please see Clinicaltrials.gov Registry.

  • Clear Skin Gel: Water-based gel contains beta-caryophyllene and tea tree extract that are known to have antibacterial and anti-inflammatory properties 5-7. In addition, rosemary oil extract has demonstrated actions against the symptomatic treatment of acne 8,9. In Avicanna’s clinical study, the Rosemary and Tea Tree Gel was investigated for its short- and long-term effects on skin hydration and sebum (oil) production on acne-prone or oily skin. The results showed significant increase in skin hydration and a significant decrease in oiliness in 93% of participants who had oily skin.
  • Intersive Moisturizing Cream: Oil-based formula uniquely marries CBD, colloidal oatmeal and hemp seed oil aimed at relieving skin redness 2,10. Colloidal oatmeal has been shown to improve skin dryness, roughness, and itch intensity 10. Avicanna’s clinical study of Colloidal Oatmeal Cream evaluated its effect on skin hydration and erythema and found that 86% of participants had decreased skin redness after 3 hours and increased skin hydration.
  • Anti-Aging Cream: Rich, lightly scented white cream with a unique amalgamation of purified CBD, Japanese cedar bud, tocopheral and hemp seed oil. This formula targets aging skin and is aimed at enhancing skin texture and skin renewal 11 .

References:
1. Tóth, K. F., et al. (2019). Cannabinoid Signaling in the Skin: Therapeutic Potential of the “C(ut)annabinoid” System. Molecules (Basel, Switzerland), 24(5), 918. htt ps://doi.org/10.3390/molecules24050918

2. Baswan, S. M., et al. (2020). Therapeutic Potential of Cannabidiol (CBD) for Skin Health and Disorders. Clinical, cosmetic and investigational dermatology, 13, 927–942. htt ps://doi.org/10.2147/CCID.S286411

3. Atalay S, et al. (2020). Anti oxidative and Anti -Inflammatory Properties of Cannabidiol. Anti oxidants. 9(1):21.

4. Oláh, A., Tóth, B., et al. (2014). Cannabidiol exerts sebostatic and anti-inflammatory effects on human sebocytes. The Journal of clinical investigation, 124(9), 3713–3724.

5. Committee on Herbal Medicinal Products (HMPC). (2013). Assessment report on Melaleuca alternifolia (Tea tree oil) and other species of Melaleuca, aetheroleum. European Medicines Agency. Article 16d(1), Article 16f and Article 16h of Directive 2001/83/.

6. Carson, C. F., Hammer, K. A., & Riley, T. V. (2006). Melaleuca alternifolia (Tea Tree) oil: a review of antimicrobial and other medicinal properties. Clinical microbiology reviews, 19(1), 50–62.

7. Bassett IB et al. (1990). A comparative study of tea tree oil versus benzoyl peroxide in the treatment of acne. Medical Journal of Australia, 153:455-458.

8. Andrade, J. M., Faustino, C., et al, (2018). Rosmarinus officinalis L.: an update review of its phytochemistry and biological activity. Future science OA, 4(4), FSO283.

9. Tsai, T. H., Chuang, L. T., et al, (2013). Rosmarinus officinalis extract suppresses Propionibacterium acnes-induced inflammatory responses. Journal of medicinal food, 16(4), 324–333.

10. Reynertson, K. A., Garay, M., Nebus, J., Chon, S., Kaur, S., Mahmood, K., Kizoulis, M., & Southall, M. D. (2015). Anti-inflammatory activities of colloidal oatmeal (Avena sativa) contribute to the effectiveness of oats in treatment of itch associated with dry, irritated skin. Journal of drugs in dermatology : JDD, 14(1), 43–48.

11. Horiba, H., et al. (2016). Biological Activities of Extracts from Different Parts of Cryptomeria japonica. Natural product communications, 11(9), 1337–1342.

About Avicanna

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™/Pura Earth™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Pura Earth, visit  www.puraearth.com/es

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative, Iryna Zheliasko, by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

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 ability of CBD 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, the ability of CBD to 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, the Company’s ability to ensure that the Pura Earth products will not cause skin irritation or sensitizationthe Company’s ability to continue to supply the market in Ecuador with any Pura Earth products, the Company’s ability to continue to manufacture Pura Earth products, and Pura Earth being a leading skincare brand. 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. 

Avicanna Announces Filing of Interim Financial Statements for Period Ended June 30, 2021 and Provides Corporate Update

Avicanna Announces Filing of Interim Financial Statements for Period Ended June 30, 2021 and Provides Corporate 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, Sept. 10, 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 filing of the Company’s unaudited interim financial statements for the three- and six-month period ended June 30, 2021, accompanying management’s discussion and analysis and related certifications ‎‎(collectively, the “Documents”) and provides a corporate update. Electronic copies of the Documents are available on SEDAR (www.sedar.com) under the Company’s issuer profile.

With the filing of the Documents, the Company anticipates that its continuous disclosure record is up to date in accordance with applicable securities law and intends to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021.

“We would like to express our gratitude to our shareholders for their patience during this unprecedented period and we thank our new auditors Kingston Ross Pasnak LLP for their professionalism in completing our 2020 audit in an expedited, yet thorough, manner. I am proud to say that, despite facing the prior audit delays and the resulting cease trade order, Avicanna has continued to meet its operational milestones, including both research and commercial initiatives, which have positioned the Company in its best standing to date. While Avicanna has been challenged with its cash position these last few quarters, we fortunately have our shareholders’ support and confidence in the team and business model. I expect the positive commercial traction we are experiencing to place us on good footing for the future,” said Aras Azadian, CEO.

Corporate Update

In the first two quarters of fiscal 2021, the Company has made significant progress in all facets of its business, notably with respect to commercial, R&D and clinical, strategic partnership initiatives:

Commercial

  • Medical cannabis in partnership with Medical Cannabis by ShoppersTM: Since the launch of Avicanna’s products in the second half of 2020, the Company has expanded the number of products available to 10 SKUs to patients who use cannabis for medical purposes to include THC-Free RHO Phyto branded non-inhalation products as well as Pura Earth topical products. Demand for Avicanna’s products has increased quarter over quarter with over 15 healthcare clinics and over 600 prescribing health care practitioners having recommended Avicanna products on the Medical Cannabis by Shoppers platform.
  • Retail (adult use) channels in Canada: As at June 30, 2021, a total of 10 listings of RHO Phyto and Pura Earth-branded product lines across provincial retail sales channels in Canada in Ontario, Manitoba, Saskatchewan, and New Brunswick. Subsequent to Q2 2021, Avicanna products are being offered for sale in Alberta, another major Canadian cannabis market.
  • Aureus™ branded exports expanded into 11th international market: Export of cannabinoid active pharmaceutical ingredients or feminized seeds into a growing number of new markets including Chile, Peru, Brazil and Austria subsequent to Q2 2021. Avicanna expects further growth of its Aureus™ supply chain, considering the further expansion of the regulatory framework in Colombia to allow for export of cannabis flower.

R&D, clinical, and pharmaceutical pipeline updates

  • Trunerox™: Completion of pharmaceutical pilot production of epilepsy drug candidate, branded as Trunerox, under GMP and ICH guidelines, a major step required for commercialization in South America.
  • UHN collaboration: Progression of the partnership related to establishing optimal cannabinoid ratios and delivery for epilepsy treatment.
  • University of Guelph collaboration: Completion of the initial phase of pre-clinical studies on the RHO Phyto formulations.
  • TRU collaboration: Research commencement with Thompson Rivers University (“TRU”) for the evaluation of cannabinoids for antibacterial effects and evaluation of cannabinoid-based products in tissue model of inflammation.
  • Osteoarthritis drug candidate: Completion of the initial phase of pre-clinical osteoarthritis evaluations after successful in vitro studies completed on RHO Phyto’s Extra Strength Deep Tissue topical drug candidate.

Strategic partnerships

  • re+PLAY and Viola: Strategic partnerships with two companies founded by former NBA star Al Harrington. These include specific formulations developed by Avicanna for the re+PLAY athletic recovery brand, which are expected to be commercialized in the US and Canada in Q4 2021, as well as licensing and commercialization of Viola™ branded products to be used with Avicanna formulations in Canada also expected to be commercialized in Q4 2021.
  • Sunnybrook Hospital: Strategic partnership with Sunnybrook Health Sciences Centre (“Sunnybrook Hospital”) whereby Sunnybrook Hospital will dispense the Company’s RHO Phyto products to patients with appropriate medical authorization onsite at the Odette Cancer Centre pharmacy.
  • Exclusive arrangement with Heritage: Exclusive agreement with Heritage Cannabis Holdings Corp. (“Heritage”) to commercialize evidence-based topical products through Heritage’s medical cannabis channels, including its deep tissue and skin care formulations. Heritage will lead medical sales and commercialization across non-competing medical channels in Canada under the Opticann brand and commits to meeting minimum sales to maintain its exclusivity of the Avicanna formulations.
  • Brazilian pharmaceutical partnership: Execution of a multi-year supply agreement by Avicanna’s Colombian subsidiary, Santa Marta Golden Hemp. S.A.S., with a Brazilian pharmaceutical company to supply industrial volumes of high THC and high CBD full spectrum psychoactive cannabis resin. The raw materials are expected to be used by the Brazilian pharmaceutical company in the production of medicinal cannabis products for commercialization pursuant to Brazil’s medicinal cannabis regulations in what is estimated to be largest cannabis market in South America.
  • Bio-Gate AG: Completion of the initial development phase for prospective products pursuant to Avicanna’s joint development agreement with Bio-Gate AG (“Bio-Gate”), a German bio-medical company. Bio-Gate will develop and deliver CBD-based dermatology and cosmetic products. Combination of Avicanna’s intellectual property and Bio-Gate’s MicroSilver BG™ technology is aimed to target indications including eczema, acne and atopic dermatitis.

Investor Webinar

On Tuesday, September 14 at 2 pm EDT, Avicanna’s CEO, Aras Azadian, will host an investor webinar, providing the latest Company updates followed by a live Q&A session. Register here: Avicanna Inc (TSX: AVCN) (OTCQX: AVCNF) (FF: ONN) Investor Webinar Registration (onlinexperiences.com)

About Avicanna

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

  • RHO Phyto™: these medical and wellness products are an advanced line of pharmaceutical-grade cannabis products containing varying ratios of CBD and THC. The product portfolio contains a full formulary of products including oral, sublingual, topical, and transdermal deliveries that have controlled dosing, enhanced absorption and stability studies supported by pre-clinical data. These products are developed using pharmaceutical drug development processes and are supported with pre-clinical data. The advanced formulary is marketed with consumer, patient and medical community education and training.
  • Pura H&W™: these registered, clinically tested, cosmetic products include a portfolio of functional CBD consumer derma-cosmetic and topical products.
  • Aureus™: as a part of Avicanna’s vertical integration based out of Santa Marta, Colombia its supply chain business units are primarily dedicated to providing consistent source of cannabinoid raw materials for Avicanna and its global partner’s food, cosmetic, medical and pharmaceutical needs. Aureus branded products are cultivated, extracted, and manufactured by Avicanna’s subsidiaries in Colombia where they benefit from optimal environmental conditions to produce cannabinoid active pharmaceutical ingredients economically, organically, and sustainably and include a range of CBD, THC and rare cannabinoids such as CBG extracts and standardized seeds. Company is well positioned to be a global supplier of cannabinoid raw materials demand and has already successfully exported its products to over 10 countries in 4 continents.
  • Pharmaceutical pipeline: leveraging from the company’s scientific platform, vertical integration, and real-world evidence, Avicanna has established a pipeline of indication specific cannabinoid-based drug candidates that are in various stages of clinical development and commercialization. Avicanna’s drug candidates are in pre-clinical stage and are dedicated to providing solutions for unmet medical needs in the areas of dermatology, chronic pain and various neurological disorders.

SOURCE Avicanna Inc.

Stay Connected

For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact IR representative Iryna Zheliasko by email at iryna@chfir.com or by phone at 416-868-1079 x 229.

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

Cautionary Note Regarding Forward-Looking Information and Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s intention to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021, and its ability to maintain, continue, or carry out its research and commercial relationships or obligations. 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.

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Avicanna Announces Filing of Annual Financial Statements For Year Ended December 31, 2020

Avicanna Announces Filing of Annual Financial Statements For Year Ended December 31, 2020

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

TORONTO, Sept. 03, 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, announces the filing of the Company’s 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”). Electronic copies of the Documents are available on SEDAR (www.sedar.com) under the Company’s issuer profile.

The Company is in the process of preparing its unaudited interim financial statements, management’s discussion and analysis, and related certifications (collectively, the “Interim Filings”) for each of the three month periods ended March 31, 2021 and June, 30, 2021, respectively, and anticipates filing the Interim Filings on or prior to September 9, 2021.

Upon the filing of the Interim Filings, the Issuer anticipates that its continuous disclosure record will be up to date in accordance with applicable securities law and intends to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021.

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/UCFXPBGdKSxOUOf_VZoSFSUA.

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 anticipated timing for the filing of the Interim Filings and the Company’s intention to seek the revocation of the cease trade order issued by the Ontario Securities Commission in respect of the Company on June 11, 2021. 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.[/vc_column_text][tm_spacer size=”xs:5;sm:5;md:5;lg:25″][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]